Receiving Payments and Minimize Not Getting Paid

The Spiro Podcast: Managing your Real Estate Photography & Videography Business

There are different ways to receiving payment for your real estate media services from your clients. We'll explore those various ways in this episode of the Spiro Podcast, along with how to minimize not getting paid by your client. Listen in for more, and be sure to subscribe!

Podcast Outline:

0:00-1:47 Intro

1:48-4:51 How can I receive payments and minimize not getting paid? Make payment simple- people expect to pay via credit card The 3% processing fee is the cost of doing business

4:52-9:31 Invoicing methods Invoicing should be automatic, or else you risk getting behind Spiro makes invoicing easy for you and payment simple for agents Timeline options in Spiro: agents can pay before submitting the order, before the media is delivered, or on a weekly or monthly basis Monthly is good for brokerage deals; many brokerages send a check- no processing fee Offering auto-payment is a great choice- agents don’t have to remember to pay and you guarantee immediate payment

9:32-10:15 Minimize not getting paid by requiring payment before the order is submitted or before media is delivered

10:16-15:41 How do I handle a lack of payment professionally? Don’t feel bad about reaching out Realtors get a lot of emails every day, so it’s not the best way to collect on past due invoices Spiro will eventually send an automatic text once emails have not been replied to Call down the list of past due invoices; most clients will pay If you can’t reach them, go to their broker or manager- an agent is a reflection of their company, and that company wants good relationships with its vendors, including you Final option: Go to a collection company. You will pay the company 25-33% of the invoice, but it may be necessary. If the amount is too small to use a collection company, you can write off the debt or take the agent to an attorney or small claims court, though you will have to pay attorney costs as well.

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