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Unread 8th Feb 2012, 09:57 PM   #1
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SMS Pricing for Real Estate Agents
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Hey guys,

So I been trying to put together my SMS marketing pricing structure for Real Estate Agents. I looked around, checked what other warriors were charging, and checked out similar services. Right now I'm priced at $149/mo, unlimited properties and keywords.

I felt this was a reasonable rate. About an hour ago as I was searching the net I found a company doing SMS marketing in my city as well. They seem fairly new as well but are solely focusing on the real estate market. I read there price and I don't understand if I was pricing to high, or these guys are just looking to screw up the market for SMS marketing in my city.

They are offering $20/listing, one time. No monthly fee's, just $20 per listing. They offer free QR code generator and a mobile website wizard that agents can manage. I'm stunned.

What do you guys think? How's my price? And do I stand a chance with real estate agents if this other company is solely focusing on agents, at that price?

If any of you are currently selling your SMS marketing services to agents as well, give me some insight on what's working for you. It would be really appreciated!
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Unread 8th Feb 2012, 10:25 PM   #2
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Re: SMS Pricing for Real Estate Agents
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Originally Posted by sintzu View Post

Hey guys,

So I been trying to put together my SMS marketing pricing structure for Real Estate Agents. I looked around, checked what other warriors were charging, and checked out similar services. Right now I'm priced at $149/mo, unlimited properties and keywords.

I felt this was a reasonable rate. About an hour ago as I was searching the net I found a company doing SMS marketing in my city as well. They seem fairly new as well but are solely focusing on the real estate market. I read there price and I don't understand if I was pricing to high, or these guys are just looking to screw up the market for SMS marketing in my city.

They are offering $20/listing, one time. No monthly fee's, just $20 per listing. They offer free QR code generator and a mobile website wizard that agents can manage. I'm stunned.

What do you guys think? How's my price? And do I stand a chance with real estate agents if this other company is solely focusing on agents, at that price?

If any of you are currently selling your SMS marketing services to agents as well, give me some insight on what's working for you. It would be really appreciated!
There may be a couple of factors to consider...

First, are they offering a true SMS Service or are they using SMTP....if they are using SMTP that may explain why they are so cheap as there is no cost to them per message.

Second, the product may be offered as a "loss leader" in attempt to set them up for a larger sale

Or, they may have no clue what they are doing and the business model won't be sustainable.

Time will tell.

Can you post the url of this other company that you mentioned?

(916) 520-HYPE (4973)
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$0 Setup & $99/mnth Private Label Reseller Accts
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Unread 9th Feb 2012, 08:02 AM   #3
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Re: SMS Pricing for Real Estate Agents
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The most important thing I think to consider here is what you feel you are worth, as well as what your time is worth. I have my own SMS Marketing business and I charge $297/mo, and for bigger businesses $497/mo and I don't apologize for my price nor do I discount it. When I take on client, I call them partners and we discuss all sorts of ways for them to improve their exposure and communication. In essence they are getting me as a team member not just some SMS system that a monkey could do. Put a value on your time, be thorough, and stick to it! And don't look to what other businesses are doing...you just run your race.

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Unread 9th Feb 2012, 01:02 PM   #4
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Re: SMS Pricing for Real Estate Agents
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Originally Posted by HypeText View Post

There may be a couple of factors to consider...

First, are they offering a true SMS Service or are they using SMTP....if they are using SMTP that may explain why they are so cheap as there is no cost to them per message.

Second, the product may be offered as a "loss leader" in attempt to set them up for a larger sale

Or, they may have no clue what they are doing and the business model won't be sustainable.

Time will tell.

Can you post the url of this other company that you mentioned?
Doesn't look like they offer any other services, so don't see this as a loss leader. Also it looks like true SMS. Here's the URL www(dot)homesonmobilephones(dot)com (I would rather not hyperlink them from this forum, in case their analytics brings them back here). Let me know what you think.
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Unread 9th Feb 2012, 01:06 PM   #5
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Re: SMS Pricing for Real Estate Agents
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Originally Posted by belleinc View Post

The most important thing I think to consider here is what you feel you are worth, as well as what your time is worth. I have my own SMS Marketing business and I charge $297/mo, and for bigger businesses $497/mo and I don't apologize for my price nor do I discount it. When I take on client, I call them partners and we discuss all sorts of ways for them to improve their exposure and communication. In essence they are getting me as a team member not just some SMS system that a monkey could do. Put a value on your time, be thorough, and stick to it! And don't look to what other businesses are doing...you just run your race.
Good advice. I'll keep it in mind. $297/mo is awesome btw, it's definitely motivating to know you are making it work at that price point.
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Unread 9th Feb 2012, 05:20 PM   #6
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Re: SMS Pricing for Real Estate Agents
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This doesn't appear to be a small operation. In fact, from scanning their Terms & Conditions termination clause they appear to be a "white label?" franchise out of NY. Because they are positioned priced to go after masses of realtors it does look like they can make a profit especially since they are charging $0.25 per text message. I'm assuming they charge this per alert that goes to the realtor when someone gets info about the property (i.e. sign up for their list) and when the realtor sends a mass alert to the list. (What realtor wouldn't want to know immediately when someone subscribed?)

Unless they provided all that info on the backend for free, they could potentially be making another $20-$50 per month per property (that's only 80-200 txt messages) plus the profit from the rider (one time). That's not to shabby if you start to see signs with their short code pop up ALL over town.

It appears their initial $19.99 covers the mobile website, keyword lease, and customer text inquiries/responses but their money is in the alerts.

Obviously this isn't $297-$497 money but you may be able to play the break by offering a certain number of properties (maybe 10 for $497) to a real estate office if you had to compete head-to-head.

I'm all for "running my race" as belleinc put it but belleinc is in Atlanta - an extremely large metropolitan area where the right hand may never know what the left is doing. Depending on how large or small your town is, word may travel much faster, which may require you to have a more competitive pricing strategy and for you to develop your Uniques Selling Proposition more thoroughly.
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Unread 9th Feb 2012, 06:19 PM   #7
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Re: SMS Pricing for Real Estate Agents
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I think I have seen the pricein you mentioned. It was $149 per month with 2000 texts and then there is a cost per text after that.

What if you charged A low monthly fee say $29-49 and that gets you x number of text. Then charge a one-time key word set up fee and a per text fee if they go overthe monthly limit

You could sell them on vcards that text their contact info and a link to their listing site(mobile version) and then as above for keyword setup and per text...Just thinking out loud
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