Spiro Podcast: Pricing and Packaging Your Real Estate Photography & Videography

One of the most often asked questions we see is "How should I price my real estate photography?" Closely related to that is: "How do I package my services?" In this episode of the Spiro Podcast, we tackle both of those questions!
Show Summary:
0:00-3:52 Intro
3:53-14:35 Should I package by the number of photos I deliver or by the home's square footage?
Keep it simple
-You know what you offer and what your packages mean; your Realtors don’t
Put yourself in their shoes they are busy and want easy marketing
-What do they need? What do they value?
-Schedule coffee meetings to connect with Realtors and find out what they need
-Brokerage meetings can also be helpful
-Price and package based on what your client needs, not based on your competition
-Wow has found that Realtors classify listings by average, above-average, and below-average and will want to market accordingly
They will want to see packages based on how they think for example, “Luxury”, “Premiere”, or “Gold” for their above-average listings
-They may be limited by how many photos they can post on the MLS, but they may want to use extra photos for other purposes
-Shooting by number of photos is also more difficult
14:36-23:18 How do I determine package pricing and discounts?
Discounting can be a slippery slope decide what your company’s mission is (to be the cheapest, best, most efficient, or something else)
-Discount cautiously
-Discounting may get you business in the beginning, but the Realtors who want the cheapest products are also likely to be the ones who complain the most and expect favors
-Todd recommends reading The Pumpkin Plan, a book by Mike Michalowicz
You are selling to a salesperson who is used to negotiating expect them to ask for discounts and sell them your value; show why you are worth what you charge and do not waver
-Realtors see photography as a commodity and will seek the cheapest photography they can find, but you are their marketing consultant and represent them to their clients; when they see you that way, they will pay you to help them build their brand
-Remind agents they will make money from you because you will help them grow
-Sometimes you have to fire your clients
Set clear expectations with discounts let them know it is a one-time discount, not the standard price
-Do not feel bad for giving them good value in your services and products
23:19-28:31 Times Wow will discount
-Clients in Wow’s social media management program receive a discount on social media video products; this is a win-win because add-ons have a higher profit margin for Wow and it benefits their marketing when the social media team posts the videos
-Wow generally discounts on brokerage plans
-Craig discounted based on the number of memberships (the client pays a fee for access to discounted pricing) a brokerage signed up for or referrals from clients and brokerages
-Most companies have moved away from memberships; it can be beneficial in keeping clients’ business
28:32-32:18 What about offering mini-packages?
-Make decisions based on metrics
-Are you trying to entice new clients to order a full package from you? Or are you booked already and would have to trade a full shoot for a mini-shoot? Do you have a loyal VIP who needs one every once in awhile? Will you be able to use these to target a different market, such as builders?
32:19-35:48 How do you price and package? Let us know in the comments or by emailing us!
Have questions? Email [e-mail]. Be sure to follow us on Social Media:
Spiro on Facebook: / spiro.media
Spiro on Instagram: @spiro.media
Spiro on LinkedIn: / spiro-media
You can find out more about Spiro at spiro.media.

[@wearechangecthartford]

Todd seems like he has a collection of blood slide trophies hidden in his air conditioner. 14:06 14:27 14:30

[@melvindlacruz1679]

you dont have a video that explain all from the biggininig, you explain alot stuff but is no even one video the extrain how to setup the prices

[@SpiroPodcast]

Hello @melvindlacruz1679 - thank you for the comment. You can see all of our Spiro Software Tutorials (videos and articles) at our Knowledge Base on the Spiro website: support.spiro.media/en/ - hope that helps! Our RUclips Channel is really just for the Podcast.