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New Matterport Pro Struggling with Business2017

Forum Founder DanSmigrod private msg quote post Address this user
I chatted today (16 June 2016) with a new Matterport Pro that is struggling to get business with real estate agents.

Is that you?

I asked him what benefits he shared with agent. He described how a Matterport Space is better than a photo, described the dollhouse and floor plan views and about how you could walk around. He listed many features ...

What Problem Do You Solve?

I suggested that he open with three questions:

1. Are you winning 100 percent of your listing presentations?
2. Are you getting as many listings as you would like?
3. Are your listings as big as you would like?

If the answer is yes to these three questions, stand-up. Say thank you. And, leave (because the agent was not being honest.)

Now that you have problems you can help solve with Matterport. Help the agent differentiate their listing presentation to have a competitive advantage to:

✓ win more listings
✓ get more buyer leads (work with a tech-savvy agent)
✓ get more sellers leads (everyone looking at the MP has a house to sell too)

Sales people want to make more money. Help them.

What else? If you are an agent, what are your thoughts?


Post 1 IP   flag post
StevenHattan private msg quote post Address this user
If Mr. Anonymous would like to talk to me I'll be happy to have a one on one with him.

In the last two days I just booked $1,700 (real cold hard cash) in scans that are scheduled in the next seven days.
Post 2 IP   flag post
rko1 private msg quote post Address this user
We have 6 scheduled in 3 days, 2 today, 2 tomorrow and 2 Saturday....
Post 3 IP   flag post
StevenHattan private msg quote post Address this user
That's great rko1. I have seven scheduled (well, one set of pics) for Friday and Saturday. PM me...I'll show mine if you show yours... :-)
Post 4 IP   flag post
TrustedPhotoDC private msg quote post Address this user

Your average price is $243 based on your booked fees and posted #. I hope they are small scans.
Post 5 IP   flag post
StevenHattan private msg quote post Address this user
Perhaps, Chris, I could donate the profits of one of my scans to help improve your website?
Post 6 IP   flag post
Glenda private msg quote post Address this user
Smackdown coming ... making popcorn ...
Post 7 IP   flag post
StevenHattan private msg quote post Address this user
Haha...right?? I think what Trusty fails to understand is I am competing with people in my city who are offering a 4000 sf scan for under $100.

I can't compete with those prices and would go out of business so I don't.

BTW...have you SEEN Trusty's 'website'? If it were me I'd at least know...a LINK or something....
Post 8 IP   flag post
smcclell private msg quote post Address this user

Did you find you got work right away or was it after a while when new listings came up and you had got your name out there?

Also had you already had a photography business in the industry and added on the MP showcases as an extra service?

I think from how others have said, is that you need to provide a full package one stop shop of scan/photo/video...well at least photo and scan.
Post 9 IP   flag post
StevenHattan private msg quote post Address this user
I started from scratch and I do not target agents who have a new listing.

I didn't start photography service until this spring...and didn't even know how to change the lens and didn't even know what the Shutter Button was. Now my pictures are extremely comparable to the 'professionals'.

While everyone is watching TV, I went to the college, listened to the markets, built systems, listened to what Realtors wanted and immersed myself in the psychology of Realtors.

My wife left me because I failed to know she existed as I was focused on my business. I have three paying scans today, paying what I believe is the most the market will bare.

If you found out what I've done behind the scenes my guess is you wouldn't (or 99 out of 100) do it. It's not my first business I've created from scratch but it sure was a little more difficult.

I have a long way to go and this is just the first step. I've LISTENED to my clients, have asked a BILLION questions and providing solutions.

As of today, I will make over $100k in the next year and never work over 40 hours doing scans. In six months I will be making over $200k, no doubt.

If anyone thinks they can compete on price, good luck to you and that business model. You might squeak by but you won't make it 'big'. With the monthly costs, cost per model, the time it takes to finish the models after scanning, blah blah, price based models WILL NOT MAKE IT.

I just reserved the URL and registered The Real Estate Production Company. I can't tell you what it's mission is but I can certainly tell you it will turn heads and make people pay attention.

The Real Estate Production Company....remember that name. This is the first time it's been mentioned and it's going to be awesome.
Post 10 IP   flag post
TrustedPhotoDC private msg quote post Address this user
Sometimes pride just gets in the way of a discussion on commodity pricing, and sometimes you just have to deal with people that don't know what they don't know.
Post 11 IP   flag post
smcclell private msg quote post Address this user
That's good know that you had no experience in photography, as it gives me hope! haha

I'm sorry to hear of your marriage, I hope that your success in the business can give you more time.

I'll keep an eye out for the new biz, hope it works out!
Post 12 IP   flag post
rko1 private msg quote post Address this user
We offer Real Estate photography, Drone Service, Ground Video, Walking tours, MP, Cinematic Service, Web Service, and everything in between.

We do very well. I make my own pricing, what I think I can live with, but I began with photography. Been in this part of Photography for 8 years. Go to your local Real Estate Association, visit the people in your local MLS.

Go to meetings, arrange meetings within your local agencies. It will snowball, but because without some frontend work no one knows you on the backend.

We also are now doing subdivision videos for builders and MP model homes. There is no limit with a little imagination. Good luck. If we can help let us know.
Post 13 IP   flag post
leeverdon private msg quote post Address this user
Thanks all, this is great feedback on what is a pertinent topic for newbies. I have found it to be very tough, people are receptive to the idea but never fully commit.

I did a presentation to over 50 real estate agents recently who are fully aware of the technology. I did an excellent pitch (so I was told) that focused more around what Dan highlighted. At the end of the pitch I had only 5 agents approach me for my business card. Not one of them asked me about the price. I have subsequently found out that the agents were too scared to ask because they have this preconceived idea that its expensive.

Yesterday I spoke to a local agent who is selling properties so fast she can't keep up. She told me she can't warrant spending money on a 3D Space when she pays a pro photographer $100 and that's it. By the way, this lady sells homes over the $1M mark.

I would be interested to hear how everyone markets their business and services.
Post 14 IP   flag post
ScanMan private msg quote post Address this user
$2000 scan booked today - 3 more booked up over the nxt 2 weeks and many more beyond. My advice if you want it is - Avoid brokers - Avoid agents - work direct with owners, managment company's and developers. Find a niche. Stay away from mentioning Matterport as brand it won't help you. You need to market yourself not them. They have their own agenda of selling cameras and hosting packages their business model is about volume and it doesnt help when your trying to sell your service as unique and exclusive. They are promoting a service that is easy which anyone can do. Thats not how I sell my service. Once again stay away from agents. They will sell their Grandmothers to buy a camera themself and try and cut you out of the equation. And unforfunately Matterports target market is the agents. Understand that and you will be able to work out your own game plan. Working with the Matterport camera is not a easy get rich quick game just because its a good product. It takes sacrifice, hard work , dedication and a alot of smart strategy to make it come together . If you think the camera alone is going to bring you the clients think again. You need a solid game plan like any other business.
Post 15 IP   flag post
StevenHattan private msg quote post Address this user
Very well said.

My next phase is targeting home owners. It's just hard to find time working ON the business instead of working IN the business.

I wonder is the psychology is England is different from America when it comes to agents and home owners.
Post 16 IP   flag post
ScanMan private msg quote post Address this user
The UK has a slight advantage of having less cameras in the field but even then there are way too may oppourtunists already trying to make some easy money and selling the product at stupid prices which just sends the buiness into a downward spiral for everyone. Im not joining the race to the bottom I have my own plan which is working but unfortunately in this competitive cut throat world I need to keep my plan keep under my hat. Call me paramoid/selfish but having been in the visuals industry for 22 yrs as a photographer and cinematographer Iv'e witnessed the downfall of the big day rate and I need to hold onto mine where it is now for a little longer before that crashes out to the low ballers. I have a 2 year game plan with the current Matterport business model.Im going hard and fast to do what I can in that period.
With regards the UK agents. I think they might have a worse reputation than USA realtors. Estate agents as we refer to them are always the butt of bad jokes and compared alongside used car dealers. I can't speak highly of any Estate agant Iv'e ever worked with on a personal level but perhaps that's just me. For example the very 1st scan I did was for a deveoper who pleaded poverty and could not afford the scan . He said he'd get the agent to pay. I did the scan the agent of course didnt pay. But the agent did say he would promote my scans interanally within the network of 300 offices. I produced custom marketing material made promo films with their branding and what did i get ? Nothing but a expensive marketing bill from my designers. OK so thats an isolated incident and perhaps it was bad luck. But its the same lack of integrity and dishonesty I have come to expect from them when I have employed them to market my own homes. You won't find me drinking with a Estate agent because I want to. If I was forced to have a drink with one I'd wear a kevlar vest in fear of being stabbed in the back when I turn around. I stress this is my own personal experience but its a feeling felt by many.

On that note - I'll leave you with a joke about UK Estate agents. An estate agent parks his brand new Porsche in front of the office to show it off to his colleagues. As he’s getting out of the car, a truck comes speeding along too close to the kerb and takes off the door before speeding off.
More than a little distraught, the estate agent grabs his mobile and calls the police. Five minutes later, the police arrive. Before the policeman has a chance to ask any questions, the estate agent starts screaming hysterically:
“My Porsche, my beautiful silver Porsche is ruined, it’ll simply never
be the same again!”
After the estate agent finally finishes his rant, the policeman shakes his head in disgust: “I can’t believe how materialistic you estate agents are,”
“You lot are so focused on your possessions that you don’t notice anything else in your life.”
“How can you say such a thing at a time like this?”, snaps the estate agent.
The policeman replies, “Didn’t you realise that your right arm was torn off when the truck hit you.” The estate agent looks down in absolute horror……….
“Oh my God!” he screams – “Where’s my Rolex?!”

If theres any decent UK estate agents out there Ive yet to meet them but I am hopefull. Ok im going to take cover now before I get torn apart by UK estate agents ;-)
Post 17 IP   flag post
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