First (Paid) Real Estate Video

[BigAl07]

@BigAl07 excellent examples!
I forget, you're in CA aren't you?
Interesting, those aren't much higher than midwest Iowa. The addendum on extra land and building was spot on too! I get a Ag request, upcommiing auction. On 20 min phone call so we're on same page. Drive 1.5 to 2hrs to farm... find out they have auction material on 3-5 different sites on farm that are 20 minutes drive between... we had a discussion on a package.

I'm actually in Western NC high in the Blue Ridge Mountains.

Yea I learned the hard way ( a couple of times actually) to get ALL the details before I give a price.

I had/HAVE one client who I priced a job for. It was for land he was wanting to place a new home on. I was to drive 1.25 hours, spend an hour on site grabbing pics and video for them to potentially locate which direction to point their new home. Keep in mind this will be a $1.5 MILLION home. So I gave him a fair price and he agreed. We did this over the phone and several emails. 2 days before the job he called and said, "I'm possibly going to purchase the lot beside the one you're going to do. Would it be possible to get you to do the same processes on Lot #2 as Lot #1. I agreed and MY mistake was not stating this would be an additional charge. So I go to the area, do the work as requested, then turned around and did the exact same amount of work to the lot beside it. I go home, edit the pictures and video. I upload all to my CLOUD server and send link and INVOICE to the client. I did the 2nd lot for $75 more than the original price. I stress $75 more and this is for a potentially $1.5M home.

His WIFE emails me and says, (this is a QUOTE from email)


Hay, this is XXXXXXX I’m XXXXXXX wife. It was my understanding that the cost of the shoot was XXXX for the one trip out to do both lots. We were under the impression that that’s what the cost would be! I was present for all of XXXXXXXX conversations with you and at no time was it mentioned that we would have to pay the amount mentioned in your bill. I would hope that you would honor the amount you mentioned over the phone. Thank you for your time.

XXXXXXXX

I replied (in a very detailed fashion) that I DOUBLED my work and processing time and I ONLY charged an extra $75. She replied and apologized for her previous email and thanked me for my work. It's been 5 weeks now and I have not seen payment and sent a "Gentle Reminder" this morning. I repeat $75 is what they took issue with ....

 

[itsneedtokno]

So you charged $150 for Interior, Exterior and Aerials? I feel like you're leaving significant $$ on the table and undervaluing your product.

Your market may be significantly different than mine so take this with a grain of salt. For a LOCAL shoot (within 30 min of my office), 3,000sqft or less, here are "standard" rates:

$250 to show up for ONE process (aerial, interior, ext).
If other processes are needed they get added at a reduced rate. For instance if they wanted Exterior and Aerials $250 + $125 = $375
Exterior, Aerials, and Interior $250 + $125 + $125 = $500
Video is a charge per minute of finished video and it's in addition to the items above.
Virtual Tours are quoted per sqft and also in addition to the items above.

Keep in mind those are my "standard" rates and when speaking with the client I will qualify them while on the phone and ask questions so I can accurately price the listing. I've shown up at a job and there were multiple structures, vast amounts of land to be documented, and many other variables that drive the price up.

Yes, I did charge $150 for all of that... ?

Lesson learned.

Based on the feedback I've received here, I have updated my pricing to reflect my deliverables.

I've included a screenshot of what I've set my "base" prices. I give new clients an "Introductory Discount" of $25 per service. With my first three customers (the one I linked included), I have an "Early Bird Discount" running through 2020, also flat $25, but only on Interior/Exterior Photos.

What do you think?




Oh and that same customer ($150) has called me asking to shoot a $1.3M beachside house with video, including minor interior.
I quoted $325 because I took a total of $100 off. $25 Intro for 3 seperate services, and $25 Early Bird.
She saw the numbers (including discounts), said no problem... Am I still shorting myself? She knows the price will increase by $75 soon but seemed like it was non-issue.
I feel like $400 for this job is the middle ground of my desired rate. I could do 3 a week and make more than I make working 55 hours at my w2 job.

I'm still starting out, getting my footing, but I want a strong foundation.

 

[dougcjohn]

Yes, I did charge $150 for all of that... ?

Lesson learned.

Based on the feedback I've received here, I have updated my pricing to reflect my deliverables.

I've included a screenshot of what I've set my "base" prices. I give new clients an "Introductory Discount" of $25 per service. With my first three customers (the one I linked included), I have an "Early Bird Discount" running through 2020, also flat $25, but only on Interior/Exterior Photos.

What do you think?

View attachment 2714


Oh and that same customer ($150) has called me asking to shoot a $1.3M beachside house with video, including minor interior.
I quoted $325 because I took a total of $100 off. $25 Intro for 3 seperate services, and $25 Early Bird.
She saw the numbers (including discounts), said no problem... Am I still shorting myself? She knows the price will increase by $75 soon but seemed like it was non-issue.
I feel like $400 for this job is the middle ground of my desired rate. I could do 3 a week and make more than I make working 55 hours at my w2 job.

I'm still starting out, getting my footing, but I want a strong foundation.

Your rates are in the "zone" and as you build you have room to raise without too much concern losing a "worthy" Client.

I had to chuckle when you stated "... she said no problem". You figure she's making a minimum of $30k, probably higher... your $400 expense is insignificant in the picture. The tradesmen she'll contact to freshen up minor eye catches will be much higher and probably not more anymore total time invested.

Good Luck and Enjoy!

 

[Mavic Mac]

@itsneedtokno - not to nit pick but you have videography (exterior only) aerial photography listed twice with two different prices. Is that based on a time factor or square footage ?

 

[itsneedtokno]

@itsneedtokno - not to nit pick but you have videography (exterior only) aerial photography listed twice with two different prices. Is that based on a time factor or square footage ?

It is based on square footage.

Up to 5000/Over 5000



No worries!

 

[itsneedtokno]

Your rates are in the "zone" and as you build you have room to raise without too much concern losing a "worthy" Client.

I had to chuckle when you stated "... she said no problem". You figure she's making a minimum of $30k, probably higher... your $400 expense is insignificant in the picture. The tradesmen she'll contact to freshen up minor eye catches will be much higher and probably not more anymore total time invested.

Good Luck and Enjoy!

That's why I figured I was good lol. The painter, the landscaper, the tile guy... Those are the high ticket items for them.

Thanks for the input!