Brokerage Deals

For a Real Estate Media business, what exactly is a "Brokerage Deal"?  What's the purpose of such a deal?  How do you get one?  And what benefit will it have for your real estate photography and videography business?  Listen in on this episode of the Spiro Podcast to learn more, and be sure to subscribe!

O 0:00-2:44 Intro

2:45-06:03 How did Wow start?

06:04-07:21 How was Spiro created?

07:22-11:36 Why do I need brokerage deals?

• Wow has seen exponential growth from brokerage deals
• What is a broker and what is important to them?
• Brokerage deals help brokerages grow growth by attracting more listings and more agents
• Brokerages have to keep their agents happy to grow, so they are always looking for tools that will help their agents

11:37-13:20 How do I get in front of a brokerage to present a deal?

• Larger brokers will be difficult to get an immediate meeting with

• Find influential agents (heavy listers, long time in the industry) and take care of them. Once they are raving fans of your work, ask them to refer you to their broker for a meeting

13:21-14:46 What is the impact of a brokerage deal for the brokerage?

• Consistent marketing for all agents helps agents individually, raises the floor of the brokerage’s marketing, and improves the brokerage’s image

14:47-20:21 Presentation Approach

• Come prepared; understand their company and goals, bring good examples, have a direction you plan to take the meeting
• Do not start the meeting by showing your products or trying to sell
• Ask open-ended questions to get a “soft close”, or a “yes” that marketing is important to them

Questions you can ask:

• “Are you marketing consistently on every listing?” 
• “Do you see the importance of all of your agents marketing consistently with photos and video?” 
• “Do you see how systemized marketing could be a recruitment tool?”

• Don’t over-talk; ask the question and let them process out loud while listening to get an idea of their marketing goals
• Ask if you can take notes
• Every broker wants their agents to market better, is trying to add tools to attract more agents, and is trying to get more listings
• Once one brokerage has consistent marketing, other brokerages in market will feel the need to keep up
• You and the brokerage share the same end goal: for clients to be satisfied with their agent

20:22-24:15 What does a brokerage deal look like?

• Wow’s approach: 
  • Offer multiple levels of service and discount bundles
  • Discount for doing more listings
  • Ask broker to pay for photo/video on behalf of agent or take up-front cost (brokerage pays Wow immediately and pays Wow from the agent’s closing fees)

24:16-26:38 Create good relationships

• Know and nurture relationships with brokers and owners