We recently photographed a residential real estate virtual tour for a family in our hometown of Quincy, IL. The family was relocating out of state due to a job promotion and needed to sell their house quickly. They were given two choices of Realtors by their corporate relocation company and they interviewed them both. While we were photographing their home, the homeowners were quick to mention that they made their choice between the two Realtors solely because of the fact that the one they chose was going to have a professional virtual tour done for the house and the other was not.
We know both these Realtors and can attest to the fact that all else really was equal. They were dealing with two very successful and experienced Realtors. We live in a small town where every Realtor in town knows the others listings for the most part. Both Realtors suggested the same price for the house and were taking the same commission for the sale. If it had been a personality contest, the Realtor they chose would definitely not have been the winner!
Because the home owners are moving out of state, they are searching for their new home mostly online and then will go to the new location for a few trips before they actually have to start the new job. Their time is limited when they are in town for these short trips so they said that professional photography and good virtual tours are the one thing that allows them to narrow down which houses they are going to look at on these short trips.
For their upcoming home buying experience, these virtual tour and high quality pictures allowed them to create a short list so they knew that the buyer for their home would likely do the same. The winner of the Realtor choice for them was easy -- they chose the one who would be providing a professional virtual tour of the home they are selling.
In a recent Facebook post, a fellow virtual tour photographer bemoaned that he needed to hire a sales and marketing team to grow his virtual tour business. Someone quickly responded that he should call me to which my husband quickly replied that I was already booked and definitely NOT available. I am the sales and marketing department for our successful virtual tour business, Vision Quest Virtual Tours. I work with many new virtual tour providers who worry that they can’t do what we do because they aren’t good at sales.
When you think of a natural born sales man what traits and characteristics come to mind? We all know that person who could sell anything to anybody...whether they need it or not. Your experiences with sales may color your thinking. If you have been hounded by people trying to sell you something then the traits that come to mind may include pushy, obnoxious, distracting and someone who won’t take no for an answer. If you know someone who is truly successful in sales you may think of things like an outgoing personality, the ability to listen and a genuine interest in others.
One of my first jobs after college was selling fax machines in Atlanta. This was in 1989 when fax machines were the hottest new thing to hit the market and everyone wanted one because people were just realizing that they weren’t only for big businesses. The company I worked for offered a fine product but the price was over double what Sharp was selling their products for and my product offered no additional bells or whistles. For a comparable product, our entry level fax was $1,795 and Sharp’s was $995. The reason I did not close many sales was because when someone asked me why they should pay nearly double for a comparable product, I had no good answer. I had all the makings of a good salesperson but I was not selling a product at a price I believed was fair. I was told to sell the “value of the brand” but frankly, in a side by side comparison, there was no additional value. I originally led the company in appointments and cold calls but I failed miserably in closing sales and quickly became discouraged. This experience led me to believe that I was not cut out for sales and I didn’t try my hand at sales again until nearly 10 years later.
I have trained hundreds of salespeople and I have seen this proven many times. The people I thought would be the best at sales -- those naturally gregarious folks who never met a stranger -- often turned out to lack the discipline necessary to actually succeed in sales. In fact, I am one of those people. I, like many people who gravitate to sales, am a big picture thinker but am not so great when it comes to details. Luckily my husband is a great partner in our virtual tour business. As the virtual tour photographer, he is the creative genius behind what we do but he is also the detail guy who makes sure that those pesky details like invoicing and paying bills get done.
The secrets to the success of our virtual tour business are consistency, persistence and having a great product. Sales is nothing but a numbers game -- the more contacts and calls I make, the more sales I make. This happens for two reasons. One is the fact that the more people I talk to, the more likely I am to find someone who is interested in what I am selling. But the second reason is that the more people I talk to, the more I understand my market and the perception of my product. Each time I overcome an objection or answer a question, I am better equipped for the next time.
Persistence doesn’t mean not taking no for an answer. Instead it means finding out if No really means No or does it possibly mean Not Yet. I continue calling a lead until I have determined that they do not need or want my product. If I have understood all their objections and explained the benefits of my product then there is nothing wrong with taking No for an answer.
Finally, I have a product that I believe in and THAT is the biggest secret to our success. Our virtual tour technology allows us to provide an excellent product at a very competitive price. My husband is a great photographer and has created workflows that allow us to provide exceptional virtual tours at a very affordable price. With the introduction of Fusion by RTV, Inc., we now have what I consider to be the greatest virtual tour platform on the market so all I need is the opportunity to show it to someone and the “sale” is easy.
Sales and marketing consultant Mike Sigers says it well, “There is no such thing as a natural born salesman. You become a “natural” by talking to and negotiating with thousands of people.” In other words, sales is something you learn to do - not something you are born with. I am definitely proof of that!
Vision Quest Virtual Tours is a national virtual tour provider specializing in healthcare virtual tours and hospitality virtual tours. We are based in Quincy, IL and provide Illinois virtual tours but we have also photographed virtual tours in over 30 states. To learn more, visit us at www.VisionQuestVirtualTours.com or give us a call at 404-863-9769.
I had a boss once whose least favorite word was “potential”. As a salesperson working for him, I never understood his violent aversion to the word but if you wanted to see him bristle, all you needed to do was tell him about all your potential business.
Our virtual tour business is currently in negotiations for so much potential business that it makes my head spin. We have bids in negotiation for several huge contracts that are right in our sweet spot and we’ve been told “Yes” by several businesses that are even now working out the logistics. Webster defines potential as “existing in possibility; capable of development into actuality.” Because I am an optimistic person, I look at opportunities that exist in possibility and calculate all the potential income. The problem with this is that you can’t spend potential!
There are certain universal laws that we believe to be absolute. The law of Increasing Returns is one of those that we strive to live by. Whether you call it Karma or the Golden Rule or sowing what you reap, there's truth to the fact that eventually what comes around, goes around. There’s a great quote by Napoleon Hill in his classic book, “The Law of Success in Sixteen Lessons.” Hill suggests that we “Render more service than that for which you are paid and you will soon be paid for more than you render. The law of ‘Increasing Returns’ takes care of this.”
A great example of this happened to us just yesterday in our Illinois Virtual Tour Business. We went to photograph a real estate virtual tour for a Realtor in a nearby city and when we arrived at the house, the place was a TOTAL MESS. I don’t mean clutter...I mean mess. The home was empty but the homeowners were doing some remodeling work and there were tools and materials all over the place as well as bags of garbage. Our job when shooting a residential real estate virtual tour is to photograph the house in a way that will appeal to potential homebuyers. At first glance, there was no way we could possibly do that. My husband is a great virtual tour photographer but there are some things that no level of creativity can overlook.
Greg and Paige Mitts of Vision Quest Virtual Tours recently attended RTV, Inc.’s national conference in Traverse City, MI where they were awarded the top honor of “Most Valuable Players” from among a network of over 1,500 other virtual tour providers. Vision Quest Virtual Tours provides state of the art 360º virtual tours primarily in the fields of healthcare, hospitality, and education. Though headquartered in Quincy, IL, Vision Quest Virtual Tours has photographed virtual tours in over 30 states.
Originally established in 1999 as RealtorVision and now RTV, Inc., RTV is a profitable and privately held corporation that proudly supports over 100,000 real estate agents and businesses in 27 countries. Their virtual tour technology has also attracted over 1,500 independent business owners who provide unparalleled worldwide coverage in the field of virtual tour photography. This makes the RTV network the largest full service virtual tour and property marketing network in the World.
One of the challenges in making cold calls for our virtual tour business is knowing when I’m being ignored and when I’m dealing with someone who is just busy. We will be shooting a private school virtual tour tomorrow...four months after our first email. I called and emailed the Director of Marketing in January then called again about a week later to see if my email had gotten to her. It took over two weeks before she responded and her response was like many I have received
Hi Paige –
I’m not ignoring you – as a matter of fact, XYZ company would be very interested in talking to you. Unfortunately, our marketing budget is depleted for the year, so it doesn’t really make sense to talk now. Could you please contact me again in April?
It can get frustrating to send out multiple emails and leave repeated phone calls and not get responses but it’s part of the process of building our virtual tour business. This particular client told me that she had kept my emails in her inbox but she just hadn’t gotten back to me because things kept coming in that were more urgent. It wasn’t that she wasn’t interested in what I was offering - she absolutely was!
For virtual tour photographers frustrated with the slow progress breaking into your local Residential Real Estate market -- DON'T GIVE UP!!! IT'S WORTH IT IN THE END!!
When we started our virtual tour business we assumed that the majority of our business would be residential real estate virtual tours. We quickly became frustrated as we made calls because we assumed that the Realtors we were talking to would immediately see the value of our product and services and line up to schedule real estate virtual tours. We found it very difficult to open the doors in the real estate market and refocused our business elsewhere and quickly became experts in the commercial virtual tour arena.
In 2011, Real Estate was only 5% of our virtual tour businessbut it will be much bigger now that we have figured out how important a market stream it is. We now have a real "hometown" and have found a way to focus our efforts consistently on building our Illinois Virtual Tours without sacrificing the time I spend marketing nationally to healthcare and hospitality virtual tours. We started small -- I met a Realtor at an open house and shot two tours for her the same day. She loved the tours and got us an invitation to do a presentation at her office’s sales meeting. My presentation consisted of her bragging about our work and telling her peers that they would be crazy NOT to use us. That day, we booked 7 tours for another Realtor and shot several of them that very day. A week later, we got a call from another, and now we work regularly with most of the Realtors in that office and get referrals from them for other Realtors who see the work we’ve done for them.
The hours I spend on booking a big job vs. the phone ringing on a consistent basis with REORDERS from this handful of Realtors was enough to convince me that the Real Estate market is worth the effort. Trust me, we used to say we hated working with realtors but now we love it and it provides us with a base income that allows me to focus on the bigger jobs without having to worry about mortgage and car payment money. While cultivating an initial relationship with Realtors may be a lot of work, they are the ONE very consistent and ongoing stream of income that we can count on without having to do additional outbound marketing. With commercial tours, we shoot it once and hope for referrals but once you have a loyal and SATISFIED realtor, you don't have to resell them over and over.
We even hired a local photographer so that we don't lose that Illinois virtual tour business when we are traveling. Realtors are the only line of business we have where we GET calls every week instead of me sitting down to make calls every day. We have great relationships, they love our work and they tell other Realtors about us all the time. It didn't happen overnight but slowly but surely we are converting many of the Visual Tour users over when they see the difference that professional photography and a kick ass tour delivery system makes. All it cost us was a few doughnuts and a lot of persistence - not a bad return.
A new virtual tour photographer asked me today if I could share the secrets of our successful virtual tour business. The bottom line, I told her, is it boils down to is consistency and persistence in making new contacts. Sure, it helps that Greg is a great virtual tour photographer and that RTV, Inc. provides us with great virtual tour software. But all that really means is that the number of calls I have to make to close a single sale for a 360 degree virtual tour l is a lower than if I didn’t have those things. Closing ratio means that x calls yields y sales. The key is to figure out what your x and y are.
The great thing about sales is the understanding that once you know what your closing ratio is, you can easily extrapolate how many calls you need to make in order to close a set amount of business. I have learned that I have to make about 100 calls to book 10 virtual tours. If Greg was a less experienced virtual tour photographer, then I might have to make 200 calls to book those same 10 business virtual tours. The formula remains the same - the only thing that changes is the x and the y.
To say that I have a 10% closing ratio DOES NOT mean that I win one out of ten times. It means that if I make 100 contacts, I feel pretty confident that we will end up shooting 2 -3 virtual tours and if I make 1,000 contacts, we will eventually shoot 100 virtual tours. Charles J. Givens, author of Wealth Without Risk puts it this way, “Success requires first expending ten units of effort to produce one unit of results. Your momentum will then produce ten units of results with each unit of effort.”
I start a running tally every week knowing that I need to make a minimum of 100 calls if I want to maintain the growth of our virtual tour business. I write everything in a notebook that I keep with me at all times and I write down the number beside each new call, email or face to face contact. I know that I need to make 100 contacts every week to keep our business growing. The challenge is not giving up on the 95th call. I hear the word NO more than most people because I keep calling. That’s the secret of our successful virtual tour business.
Vision Quest Virtual Tours provides interactive 360 degree virtual tours for healthcare, hospitality and education with an emphasis on behavioral healthcare virtual tours and vacation rental virtual tours. We are located in Quincy, IL but we photograph virtual tours all over the country. For more information or to schedule your virtual tour, visit our website www.VisionQuestVirtualTours.com.
I am in the process of creating new blogs to feature our vacation rental virtual tours and healthcare virtual tours. We have shot over 500 virtual tours in the past couple of years and I’ve started by adding the tours we did back at the beginning of our virtual tour business. This summer will be the three year anniversary from the day we got our equipment in the mail and we launched our virtual tour business and can I just say, we’ve come a long way baby!
Here are some lessons we’ve learned along the way...
One of my least favorite phrases has always been “It’s not my job.” Having owned my own company prior to entering the corporate world, I never understood how the ultimate success of any organization was not the job of every single employee. Now that I am back to being a small business owner, the question of “Is this my job?” takes on an even greater importance.
I visited the website of another Charleston, SC virtual tour provider to check out our competition. On their website, they have samples of their work and the tour that they chose to showcase their services has a panoramic spin with someone sitting in the middle of the kitchen floor working on the dishwasher. Seriously, of all the tours that you could choose to represent yourself, you couldn’t find one that didn’t have the dishwasher repair man sitting in the middle of the floor?
One of the challenges Realtors face is that their clients often don’t see their own clutter but as an outsider coming into a home for the first time, you’d think one would notice the dishwasher repair man.
At Vision Quest Virtual Tours, we work as a team. With close to 15 years as a professional photographer, Greg stays behind the camera and I go in front of him to prepare each room to showcase the property in the very best light. It is not unusual for him to have to wait on me to finish staging an area because our work represents both us, the Realtor or business owner and the property we are shooting.