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Is it time to drop prices?4981

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VTLV private msg quote post Address this user
About 1 year ago Matterport dropped its price for a camera and went full fledged into persuading agents to purchase cameras and devalued our services as being "professional" while we awaited promises of back end services dating back to 2014.

Since then we have slowly watched price drops from desperate camera owners at the end of their year long commitment. Outsource companies entered our markets all leading us to become "Matter Babies" creating another resistance during an election year while real estate sales prices finally began to rise.

Agents who haven't bought the product have become aware of our services, but do not yet envision our services as "professional" because anyone can do it according to Matterport ads. While some agents have cornered a piece of the market being 1% listing agents offerin zero marketing and relying on IDX feeds to big business, other agents have found it difficult to differentiate themselves as offering other values in marketing a home and charging a higher commission. Our services have helped some with the current boom.

Matterbabies such as myself have hit a big fork in the road. questioning the following: Devalue the service by shooting faster by leaping across rooms and spinning around in 1 circle in another room by avoiding the up sell of the dollhouse (it going to look like crap with black spots, but our shoot time will be fast).

Otherwise uphold to our quality and style by guiding buyers just enough to see some points of a room at places like the windows or by walking around a couch and have a beautiful dollhouse filled with minimal black spots and spray.

These 2 features allow us two directions in Sales.

One is to appease worrisome agents to tease buyers into getting a feel of the home by not walking every area. See just enough to spin around in a few areas and want to see the home in person. Much like grabbing agents who are fine with 10-20 photos, so the buyers will see enough to come visit without scaring them off.

The other option allows agents to show all 35 photos to fill the MLS photo limit (in some areas). Many of these agents believe having 35 photos and a full Matterport tour will allow the buyer from out of state or elsewhere to view everything about the home prior to a visit. These agents tend to care less about gaining leads from an open house or their listing page> get as many multiple offer scenarios as we can in the beginning so we can attract everyone and get the sale done versus taking the first offer. They know they have already lost out to the IDX taking away their exclusive listing agency narrowing their chance for leads.

@hometakes did a great piece on So lets add that up: "I see his numbers as viable, but he is a slave to the work if he is working 6 days a week."

My questions to you are:

Are you dropping your prices by ditching quality?

What are you aiming for at this point for your style?

Are you shooting for volume over quality at a cheaper price?

Are you offering agents a basic spin in the middle of the room tour with hallway leaps? Followed by something more enhanced to walk around areas of the home as an upsell?

Have you ditched the dollhouse as an up sell? (I haven't had any agents interested in having a dollhouse as the main photo ever since I started).

Have you found a way to offer a Basic spin and leap tours followed by an Enhanced Walk Around tour? (I cant seem to convey the difference much the past couple months, too much detail).

It brings to question, are we going to drop prices and beat out the outsource companies from many states away and compete with the local short term low price competitors currently in business until they drop out of the market in hopes we can salvage our own quality of work. Where do you fit today versus 6 months or a year ago?

After my baby is born, I'm thinking some restructuring may be in order as much as I don't want to conform back to slave labor. Where is your brain with all these price cuts around us?
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Great article. The only answer in our opinion is that 3d pros must also be able to act as a realtor and offer those services. Don't ask me how but certainly something to think about.
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justinv private msg quote post Address this user
@VTLV

I found out a long time ago it is hard in my area just offering Matterport.

I actually bought the camera for my wife. We both have ADHD and she couldn't take the boredom. She decided to get her license for real estate.

After I started with Matterport, photography had to be added to the service line up. Well, some more time passed and I finally added video.

My wife just put her first listing under contract and already has a few other people interested in listing with her. We are taking Georgek's idea and using everything for every listing. Only time will tell!

As for your doghouse dilemma, my clients don't even care about it and I don't think they even know about it! I asked a couple of people what they thought about it and they answered me with blank stares! I could not imagine opening every closet, pantry and any other type of door to get a complete doghouse with no black spots.

So I would either add more services that were very profitable or put your "slave labor" to work and get into real estate. You already have all the tools for the marketing of properties, so why not use them to your advantage? You should be able to get your license for about $1500.

That is my advice!
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@justinv - Thanks for the feedback. Never thought if it as a "Doghouse" dilemma. lol. Many blank stares on that one as well.

Opening pantries to get every nook and cranny would be self inflicted death, I wish that upon nobody. Walk in closets though, not a terrible idea, but could be avoided for faster shoot times, sure.

The other services are there with stills and slide shows, ect. Just got the drone license, I've been an agent for years along with the wife doing your tag team marketing idea of homes.

What are the rest of you guys doing as your competition advertises lows prices?
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