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Realtor Broker and Virtual Tour Business6655

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MarkCantu private msg quote post Address this user
Good Day!

I was wondering if there are any Realtor or Brokers out here, who also have a Virtual Tour Business? It seems as if this combination would have synergy. However, on the flip side of this, Realtors are very competitive, especially in regards to new listings. I was wondering if there is anyone out there who has battled this situation of trying to sell virtual tours to realtors, but they are reluctant since you are a Realtor/Broker yourself, and they believe that creates a conflict?

Mark Cantu
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hometakes private msg quote post Address this user
Yep! That was me. They were scared that you were going to steal their client. It wasnt until I went inactive that they didnt feel threatened anymore and gradually did business begin to pick up. It was definitely a detriment to me and hurt me. I was a very successful agent and everyone in the area knew who I was even though a didnt know most of them.......
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MarkCantu private msg quote post Address this user
Thank you for the input. I am finding the same situation, did you disclose to Realtors that you were a Realtor yourself? It seems like a non-starter to me, but it's the most ethical approach. So, is your business plan in industries other than Residential Real Estate?
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hometakes private msg quote post Address this user
When I was still licensed I disclosed as I still was an agent. But once I didnt renew my real estate license and let it lapse, I felt that I never needed to disclose that I once was an agent as I had no intentions of getting back into being an agent. I was so tired of working 24/7 and being made to feel guilty if I took a week off. Sold $165 mill in a 3 year period and burned out.

I make a lot less money now but so much happier. Weekends entirely to myself and open again Mon - Fri.

If you want more money, then stick to real estate. Its a lot easier to net $30,000 with one sale than it is selling tours to agents. I was never cheap when I was in the Real Estate business but as you probably know, 95% of them are very cheap. They are tougher to sell to than selling houses.

Business plan for the tour business is Strictly geared to Realtors. Been in it now since 2005 and it took more than 5 years before I started to see some proper $$ from it.
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RedRock3D private msg quote post Address this user
Consider starting a new/separate business for tours. We (wifey and I) took that route. I scan the properties, she sells them. My side of the business is completely independent of hers but we collaborate when and were we can - enhancing each other's efforts.
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kjoman private msg quote post Address this user
Hi, I was strictly a real estate photographer, was hired to do 3D for a brokerage, then asked to become a broker (the premise was that other brokers would feel more comfortable with me and I'd have access to properties without them being there). After getting my license, I soon found out that I'd be sanctioned if I went into a home as a photographer, not as a broker so that didn't work. I also left the initial brokerage to join a bigger firm, purchased my own 3D to supplement my regular RE photography (as a new broker, I needed some income and frankly, photography is a passion). My real estate still & 3D photography has flourished this past year, basically almost 1/2 & 1/2 stills to 3D income ratio (I charge more for the 3D so less 3D but more $$). Since I already had a lot of real estate brokers as clients, plus the connections I've made in my office, I haven't felt any backlash from being a broker. I don't know if it's the mindset of the people I work with or just my friendly, outgoing, can-do personality - maybe both, but it's been quite a smooth journey - especially when I went out on my own and I have really great relationships with my clients.
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SoldSquad private msg quote post Address this user
I can give you a slightly different perspective.

I'm a Realtor, and have been using a good photographer for almost all photos of my listings for several years. When Matterport came out, I fronted cash for him to buy the camera. (In return, I received credit to be used against future photos and MP tours.) As my photographer, I supported him fully, publicly praised his work, sent as much business his way as I could, and made efforts to help him build that business.

Recently, he decided to get into real estate himself - while keeping the photo business going. Now, despite the fact that he's a nice guy and I think he does good photography, I'm shopping around for a different photographer. It feels slightly petty, but I don't really want to be funding my competition, even if only indirectly.

There aren't many MO providers out by me, so I'm *THIS* close to just buying the MP camera myself, and training my assistant to operate it.
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MarkCantu private msg quote post Address this user
There are some really good comments here, and I see that it can really go either way. The comments have made me consider both sides of the issues. What I am finding is, that because I live in a really hot market, most Realtors do not want to spend the money (surprise, surprise), and the larger companies have in-house services.

On another note, I just received an email today from a photographer doing 20 stills for $95. She must be working for minimum wage! I thank every body for their input.
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kjoman private msg quote post Address this user
I am also in a very hot market and the Matterport helps sell Realtor services as they can market more expansively and 'differently'. Also, being in a high-tech area, people are moving here from other states and countries. Recently a newly built high-end home had 2 separate buyers with spouses out of the country that bid on the house because of the 3D. The builder was thrilled (as was the listing broker) and word has gotten around to other builders and that's one of the markets I'm covering.
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hometakes private msg quote post Address this user
You can make it profitable for 20 photos for $95. The photos aren't going to be great though. No photoshopping, no Bracketed shots, no tour template, straight from camera to their email. In and out the home in 30 mins and 15 mins to their email. So $95 isn't bad for 45 mins work.

Id be surprised if they are doing bracketed shots, supplying a tour template and all the bells and whistles. If they are, then yes, they are working for minimum wage!
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Queen_City_3D private msg quote post Address this user
@MarkCantu I have essentially the inverse relationship that @RedRock3D mentioned.

I'm an agent myself and saw the value in the camera and went out and bought it, and it's my wife who does all the scanning.

I had originally thought about keeping in proprietary to use as a unique selling proposition, but it's just too expensive to have and hardly use, and so we created a separate entity for my wife and she offered the services to other agents.

I'm sure that there are a few agents who don't use her because they know of her affiliation to me, but there's many more that do and even call me asking for her contact info rather than looking it up themselves. I think there would be a lot more that wouldn't call if it was me doing the scanning... but her having a separate identity to myself seems to put a lot of other agent's minds at rest.
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GFHoge private msg quote post Address this user
Good comments all.
I am a Broker~Owner in Florida. I have been active in my association and served as a director and secretary. During that time I got to know the brokers and agents. Then my daughter told me about Matterport.
Like most, I thought it would be my competitive advantage, so I formed another company with my daughter and wife. I market the business and am the chief 4K 3D Pro. I have had some success in getting other REALTORS to use my services and keep getting more.
From my experience, once an agent tries is and is successful, they become my best advertisement.
Twice I have had agents take old listings, do the Matterport and have offers in a few days! The one thing I have noticed where I am is that most agents won’t take advantage of the opportunity. 75% don’t use social media! I brag about my REALTOR clients on FB, but can’t tag many because they don’t have an account.
If you can, I would recommend becoming an affiliate member of your local REALTORS Association. Support with sponsoring meetings, etc. Attend the events and mingle.
When I attend as a REALTOR, I promote my listings at our Marketing Madness using my iPad and the Matterport space of the listing. They can see it and some are getting the idea that the paradigm has shifted. Buyers are savvy and want to “see” the house, not the lousy 2D photos.
My experience is that the two are really all about one thing-Marketing!
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