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Pricing your Matterport services

Hello Matterport Service Partners!

Nice to meet you. Several of you have written in asking about how you should price services so we wanted to address your questions.

Question 1. How should I price my Matterport services?

While we encourage you to determine a pricing structure that fits your market and audience, we’ve been working to better understand prices that influence greatest conversion. We recently surveyed scan service leads from this year, who were predominantly real estate professionals. We asked them a variety of questions including the price they were quoted and the price they paid for Matterport services. For those that purchased, the data showed that a $.10 per square-foot price, on average, was most successful in closing the deal for regular size properties, and a bit lower for larger properties.

Consider this data, along with your goals (growing your client base, maximizing profitability, etc), to determine how competitively you want to price. It’s obviously up to you, but we are asked time and again, we wanted to share this data a little more broadly. Please note that prices may vary depending on geography, and there are opportunities to charge more for add-on services beyond a “baseline package,” which we address in the next question.

Question 2. How should I package my services?

In order to keep your prices competitive, you may consider offering a Matterport 3D tour without the bells and whistles. Once your lead is interested, or has purchased the baseline package, you can offer add-on services such a Mattertag Posts, Highlight Reel/Guided Tour, Schematic Floorplan, and/or Virtual Reality enablement for additional amounts.

We’d love to hear what prices and/or packages work for you. Respond back to let us know!

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9 comments
  • @jessica Thanks so much for posting your thoughts on pricing. Very curious to hear the latest feedback from MSPs. @Bill @Lisa Hinson @jrbatchelor Any thoughts on this?

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  • @jessica @Bill I found this thread on pricing from this summer. It's interesting and sheds light on the fact that so many MSPs still have questions on best practices with pricing. I wonder if those that posted on this thread have new thoughts. https://community.matterport.com/questions/338/what-does-your-price-structure-look-like.html

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  • @Matterport-Siblyl @Jessica I am mimicking the pricing in Lubbock, Tx where there is another MSP. $100 + .10 cents a square foot for Matterport. In NM we also have a 7% GRT tax on top of that.

    For customers that have used my services over the year, I create a Single Property Website for them as well - I do not charge for floor plans or Mattertags. Feel free to look here: http://fivedmedia.com/gallery/ This particular listing was one I shot for the MSP in Lubbock http://fivedmedia.com/3d-model/2000-los-poblanos-place-nw-los-ranchos-nm-87107/skinned/ He asked me to shoot, he did the fine-tuning of the model.

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  • Any suggestions for commercial and MultiFamily? I know a lot of commercial brokers/owners that are asking to scan their portfolios. One office property is 20,000 sf...any suggestion for how to price this or large industrial type spaces? Another topic is paying photographers that work for you. We were planning on adding two in the next few months.

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  • Hi @Mike-5 I've found pricing in the hospitality/commercial/industrial is different than residential real estate and can vary depending on type of space and use case.

    A multi-family package of 3 rental spaces, 1-2 common areas (Lounge/Gym/kitchen), 3-5 360 Views and a Highlight Reel works well. That space will generally take 3 hours due to walking to different areas, access to rooms, etc.

    A 20K office area price can vary based on complexity/# of desired scans, but I figure a 20K project is basically a full day of work, so I'd probably charge my daily rate

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  • Bill, I guess where I am stuck is I am not sure what a daily rate would be etc.? I qouted .10 SF on the 20K office, is that pretty high ($2000.00)?

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  • @mike-5 I just did a 18K building for my daily rate of $750, and the client was very comfortable with it. I probably could have gone higher and for many reading this, it may seem to low. But if a project is priced too far outside of perceived value, the client won't buy it at all. In which case we also lose out on the marketing exposure a new client (especially if in a new channel outside residential real estate) gives us. For me, one of my concerns has been being an early MSP, pricing this new product too high, have several new MSP's come into the market and price below me - which results in me being the high-priced provider. So I've taken what I think is more of a 'mature' market pricing strategy and am currently settled into the middle. Pricing in your application at $2,000 might be appropriate.

    The only concern I would have, without knowing their budget, is if I price it too high then 1) they say no; or 2) if they come back with very low offer that I meet (or almost meet), it gives my pricing structure no credibility. So I show in my quote the price based on square feet, my daily rate, and the amount they save.

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  • the question is what are you doing with the hosting, if they will use this tour for 5-6 years

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  • I have been a freelancer for 30 years now in the entertainment industry. I have always been a Photographer/Cameraman and for the past 20 years have primarily worked as a Sound Mixer, mixing everything from features movies to documentaries,TV and news. 

    As a freelancer pay rates have always been a topic of discussion in my industry on how much to charge and and what to charge for. I actually started a facebook group a few years ago based on this topic alone for fellow sound mixers. I am telling you all this because as I start into this new business of Aerial 3D mapping and 3D Virtual Reality Scans I was very interested in how much and what you charge for this service. Now compared to my sound equipment these cameras are not that expensive but enough so that whenever I buy equipment for work I have to know two factors. One, if it will pay for itself and how long it will take for that to happen, and two if I can make a living with that gear. I was surprised to see first off how many are so ready to take $200-$400 to do a scan all in. I personally can not earn a living on that price and will not even go out the door for that. For this kind of money you have to be working all day long seven days a week to make it worthwhile. I personally don't want to work all the time but when I do I would like to be paid a living wage to do so. What I have noticed is that no one allows for their time which can take a lot from talking to the client to driving to location and of course doing the job. 

    I was called yesterday to do a last minute shoot for someone who said I would save their day if I could do it. Well, I have always thought that: Poor planning on your part does not constitute an emergency for me.

    But nonetheless this is what she was asking. It was a wedding venue 3 hours away six hours driving round trip and this is what they wanted:3D scans:Wedding Barn - post and beam, 2 large balconies, 2 floors - 3,400 square feet.
    360 Scans:
    Farm house - choose one bedroom to scan, living room.
    Front lawn, back lawn, pond, 2 gardens, pool area. 

    At this point it was 11:00am and I told them I could do it and I may be able to get it all done by sunset, this is arriving at 3:00pm. Then when we started talking cost they said they could only afford $200-$300. My response was good luck and that rate doesn't even come close. Her response was well that is what we usually pay. So I kindly respond by saying that she was getting a real deal. Needless to say I stayed home and enjoyed the spring weather we have finally started to get here in Vermont.

    Now I have to preface this lengthy post with the fact that I have just started into this business and have only done a few scans at this point, but on the flip side I am talking with many prospective clients both outside of the real estate market and in and they are not turning me away just yet because of the rate. As a matter of fact they have been saying they feel the rate is fair for what I offer. So, this is how I am charging for my service and until I get a lot of pushback I feel this is fair for all, Client and myself.

    I like to keep things as simple as possible so I don't offer different packages which I feel gets to complicated and the client usually wants something different than what you may offer in a package anyway. A La Cart baby! Plus you can make more I feel this way.

    So I charge by the Sq. Ft. @ .15 per square ft. up to 4000 anything over that I lower it to between .10 and .12. I like to leave a little wiggle room with this. This includes all that you get with a basic scan. Although I tell them this is what I include with that scan since they don't know the difference and If you list it out it sounds like a lot. I will include tags up to 25 for free, video tags are additional for its production which is another topic. I also offer add-on services such a Mattertag Posts, Highlight Reel/Guided Tour, Schematic Floor Plan, and/or Virtual Reality enablement for addition. These add ons I will usually charge a labor rate per hour to generate.

    If the client wants photos I will post them on my site which has options to sale any size and to matt and frame them if they like. They can pay according to what they want right off of my site. If they want to download photos for multiple use I charge a one time fee per photos to use them forever at $65.00./photo.

    I offer to host their scan for up to 6 months usually for real estate for the longer terms I will host their scan for $20.00 per month paid either on a 6 month plan or $18.00 per month on a 12 month plan. If they need to cancel before their time I will give them a refund of the remaining time. 

    Now I mentioned labor earlier. I do charge for my time. Your time is yours to give away or to be compensated for. I personally like to be compensated for my work time. 

    If I go out to scout a location I charge $35.00 per hour from when I leave my home to when I get back. If it is over 60 miles round trip I charge for the mileage or will make a note to right it off on my taxes. I feel this out according to how tight the client seems to be. 

    When I arrive on site I charge $50.00 per hour for my time. I require someone be there while I do this not only for insurance but to account for my time. I never wiggle on my time, I feel the place to wiggle is on the equipment. If I am asked to produce an add on it is also $35.00 per hour and I don't break the hour up. If it takes 15 minutes it is billed by the hour. 

    So, This is how I charge for my services and it is based off how I have always done business and I don't feel it is much different. We are offering a service and should be paid to do good work and be professional. I have always felt if you don't charge enough they look at you as being desperate or you can charge a fair rate and be looked at as a professional who has an amazing product and service not many can offer. People will accept paying more for something if they think they are getting what they are paying for and good product with professional service. 

    Look at cars for example: They all have four wheels and it comes down to quality,service and what fits into your budget. If you don't have the budget for a BMW then you are still looking for something that has quality and will give you good service.  

    Thanks for reading, and sorry to go so long.

    Happy Scanning,

    Mark  

         

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