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Can an Agent also be a FilmMaker?
I am a newly licensed Realtor in VA and an ex-Videographer. I still have my professional video equipment. After my Realtor training I decided that I would take the approach of offering "free" video to FSBOs. As I researched I discovered that the videos that most Realtors were posting were merely Photo Montages. I decided that there was room in my area for someone who actually shot video. Luckily, I discovered Fred Light's website, I purchased his Training Video (excellent) and I'm getting my ducks in a row, learning how to do what and all. Yesterday, I received an Email from my MLS acknowledging my request to become an Approved Vendor and stating that "Vendors can not be Agents or Brokers". I guess I hadn't thought of that. If that's the case and I can't post to the MLS, is it viable for me, as an Agent to pursue being a FilmMaker? If I can't be approved by MLS, what are the services I can offer to Agents? Thanks in advance for your help.
Jeff...
It looks like an interesting problem. I have, from time to time, considered doing video for hire work on a refferral basis. The answer you received from your MLS should be backed up by a written policy and have a good reason for existing. I'd ask for a copy of the rule that says you can't be both.
There are some of instances where agents have business relationships with other agents that do involve acting as a licensed agent. Coaching is one example, business planning is another.
On the other hand, acting as an agent taking a referral for assisting in the marketing effort of a property is a good way to go. Also... there's nothing to say you couldn't co-list the property for say, a 5/95 commission split with an agreement limiting your involvement to the video. As a co-listing agent you should have access to upload the video. Or... look into becoming a licensed assistant. We have people in India that have access as unlicensed assistants and do so for more than one agent.
My comment above inthe second paragraph should have read:
There are some of instances where agents have business relationships with other agents that do NOT involve acting as a licensed agent. Coaching is one example, business planning is another.
One more idea... Create an LLC for your video business and hire an employee (like a family member) to input the videos and have the agents set your LLC up as an unlicensed assistant.
Interesting ideas Ray, Possibly my fee would need to go through My Broker. I like the 5/95 split, except I like my money up front. I'd rather give a refund than have to track my money down. Yes, I am thinking of hiring my daughter-in-law to do the video tour narration. My Wife is a Tax Professional, so she's knows the best way to do things. And as for MLS, as I told R. Lee, they sent an email the next day saying disregard that directive, but I have yet to hear anything since. Are they that busy?
As an Agent, I originally was getting into Video Tours to approach FSBO's (For Sale By Owners), but I'm finding the photo/video end more captivating, just a little tricky to navigate the rules it looks like.
Thanks again for the ideas, Continued Success!
It partially depends on your MLS. Is the MLS in your area strong as a tool for buyers? In other words, do buyers in VA search for homes using an MLS owned search site. If not, then what is the strongest for buyers? If it's realtor.com, then you could market it that way. Also, you can offer the fact that you distribute it to all of the video sites using a service like TubeMogul.com.
You can also create a custom YouTube channel with all of their videos. They can also put the videos on their own site. It could also be made into a Video Podcast that could be subscribed to on iTunes, etc.
Another idea would be to have your wife (if you're married) be the primary and apply to the MLS as a vendor.
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