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3D Showcase Now - Pay At Closing for Realtor5221

fullpreview private msg quote post Address this user
So, I have launched a different angle today to capture the interest of more Realtors by reducing the barrier of entry. I'm fairly certain that no one else has done this yet, especially because it would be next to impossible unless you are also a licensed Realtor.

Here's the strategy: Realtor orders Matterport Showcase for a 10% good faith deposit on the total order (Except for RUSH Processing). When ordered, we send an authorization to disburse to the Realtor and Broker instructing the Title company to disburse the invoice remainder at closing from the earned commission of the Realtor.

The site is finished and we just keep tweaking it to make it better.. always a work in progress.

I released a soft campaign today... to feel out the response. If it starts to take traction, I will then wrap an affiliate module around the ordering and offer the Realtors a commission for their 3D Showcase referrals. Finally, I will make the principal broker of the realty a "parent" affiliate so that he/she makes a commission from every order that one of their Realtors places.

I anticipate 60-90 days before this takes hold and I will then need to hire help. But, it will take 90-120 to reach an equilibrium so that closings catch up with new orders and the fixed float of due invoices is in balance.

Got any thoughts fellow Matterporters?
Post 1 • IP   flag post
LewisBishop private msg quote post Address this user
@fullpreview That's taking a bit of a risk. Are you charging a fee for carrying the cost?
Post 2 • IP   flag post
fullpreview private msg quote post Address this user
@LewisBishop

- Funny, I had thoughtfully considered that, yet decided against it. It would throw off the fair pricing model and I wasn't comfortable with that.

I will make up the risk of loss by sharing links for the showcase hosted on our website, even the MLS Compliant ones - this way, we can deploy retargeting code and tag every viewer and serve those buyers follow ads. This will create a buyer lead source for my company. The metrics of buyer views over 100's of listings will surely land us some buyer representation.

Again, this is all theory until I run it for 3-4 months. I do have a pretty good feeling it will be worth it.
Post 3 • IP   flag post
jasondavidpage private msg quote post Address this user
I offer a similar model with some agents in our area. The agents always pay more for the risk associated with paying later rather than now. I'm financing their marketing for 30, 60, 90, sometimes 365 days. I have enough business that is spread from NET 10 to NET CLOSE that it's not an issue for me financially.

I definitely wouldn't offer it without some sort of financial "penalty" for the other party who is gaining an advantage of buy now, pay later, but then again, I like to call in my chips in the end. I've only had two agents so far who just gave me a big middle finger and said "make me" when it came to paying up after closing (or their losing the listing.)
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Queen_City_3D private msg quote post Address this user
@fullpreview Personally, I would drop your "parent affiliate" idea, as I feel it would just piss of the agents.

Brokers are already making money off the agents in terms of commission splits or office fees. If the agents find out that their also getting a broker "tax" on the marketing that they on their own accord do for their listings I can really see some getting upset. I know I would be incensed.
Post 5 • IP   flag post
fullpreview private msg quote post Address this user
@Queen_City_3D I can see your point. Thank you for the thoughtful input.
Post 6 • IP   flag post
fullpreview private msg quote post Address this user
Okay - we completed the modification of the Commission Disbursement Authorization today. If anyone is considering this method, please feel free to grab this CDA and make it your own. This will hedge you against a failure to pay or even a failure to close [allows for replacement property to draw portion of commission from].

We have created a doc folder for sharing with the forum and this agreement is located here:
https://fullpreview.com/we-get-around/CDA-Full_Preview_PaidAtClosing.pdf

If you're wondering.. some of the info will not be available until there is a contract on the property. We just put TBD in those fields.

Finally, if you Acrobat Pro, you can edit this doc and swap the logo out. If you don't have Acrobat Pro, use SmallPDF.com to convert the PDF to WORD, modify it and re-save as a PDF. SmallPDF.com is free for 3 uses each session. So, if you need more uses, just wait and get the 3 uses refreshed OR switch browsers.. you get the point.
Post 7 • IP   flag post
fullpreview private msg quote post Address this user
@lhconn - the ability to charge a card on file is already authorized and we have this info because they have to put a 10% deposit down when ordering...

see here: https://fullpreview.com/product/3d-full-preview-showcase-realtors-only/

image attached with clause in agreement
Post 8 • IP   flag post
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