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 [email protected]. 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.