Episode Transcript
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(00:00):
Coming up on this episodeof The Spiro podcast.
(00:04):
And that feeling I think is somethingyou only get by living it.
And it's kind of speaking to what you justsaid, Todd
and, you know, living livingthe problem
is something that's importantwhen you're building software.
(00:28):
Hi and welcome to the Spiro Podcast,
managing your Real estate, photographyand Videography Business.
Spiro is a software platform.
It's designed, created,built for you to run your day to day
real estate media business and ultimatelyhelp it grow in scale as well.
I'm Craig Magrum,and welcome back to another week.
If you're a returning watcher, vieweror listener,
(00:50):
and if this is your first timewatching, Spiro is like I said,
it's all about helping you builda strong real estate media business.
We've said it in the past.
There's tons of great resourcesout there on YouTube and otherwise
about how to, really attackthe creative side of real estate media.
We want to help
you build just a strong businessgiving you a good business foundation.
(01:13):
So we've we've, coveredall sorts of topics.
Make sure you dig back into the archivesto find some really good material
that will help you get rollingif you're new to the business.
All right,let me do a couple of quick introductions.
Of course, our owner and founder, co-hostof the podcast Todd kivimaki, Todd.
Welcome back.
Craig, it's a great week to be back.
(01:34):
Do you have shoes and socks on right now?
Truthfully, no, I don't actually.
Boom. Done.
Yeah, but they're not out in the grass.
I have to tell you, Todd, I know we'realready getting off on a rabbit trail.
Last week's episode.
I don't knowif you've seen fine ember films
(01:54):
comment on, on the YouTube.
No, I didn't see.
No, I didn't see Nick's comment. What he.
What did he say?
No. No, you just have to golook and click the link.
That fine Ember Films has, has provided us
and our our excellent,excellent viewing and listening audience.
So if you only listen,you have to go to the YouTube channel.
(02:14):
Folks and look at the comment section,find find Ember Films.
Make sure you watch the whole episodefirst so you know the context of what
this link is pertaining to. Here.
That's all I'm going to say.
Wow. I know.
I feel like we should stopthe recording of this topic.
Look, I'm just. Best commentI've ever seen.
Well,we're all going to go there together.
(02:37):
All right.
I'm going to let you introduce Shannon.
Yeah. Shannon Landers,our CRO at Spiro.
You all know her and love her.
Shannon, welcome to another podcast.
Thank you, thank you.
Happy to be here. As usual.
Now, if you can't see Shannon, there's onevery important thing
about Shannon right now.
Shannon, do you want to letall the listeners know go box oh eight.
(02:59):
All right.
Oh, there we go. Let's go.
Oh my goodness.
It is Buckeye weekend
Hopefully it's been a good turnout.
We were recording this the day
before the big, premiere game for OhioState playing Texas.
It's going to be a tough game,but one versus three.
Here's hoping there's me.
I don't know if Ohio State has ever openedthe season against their real opponent.
(03:24):
So we're just going to see if we get
I mean we normally play a high schoolteam way.
We play them next weekend.I don't even know.
Okay. Granger Green I can't even name.
It started with G.I never even knew the school existed.
So we are playing that next weekend.No worries.
Well, that school's probablygetting 1 million or 2 bucks for playing,
so it works out good for.
(03:44):
But it it does keep it all understand.
There's a reason that those schools play
and they do make a lot of moneyand those games when they play.
So yeah, normally we play a mac school.
So for those of you that are voting yeah,the Mac conference,
which is actually a lot of Ohioschools, guys, my alma mater, Miami,
you got Bowling Green up there by Craig.
(04:06):
So, you know, wait a minute. Wait.
I actually,I shouldn't be pumping my fist.
I'm a university Toledo fan.
I'm there by for guy.
Okay, but but I live in BG,
so it's fun being a rockets fanliving in the heart of open country.
Yeah. So. Right. Right.
Yes. Well, it gets all squirrely up therefor you, Craig anyway,
because you get all those stinkand Michigan fans too.
So you know. Right.
(04:27):
And it's terrible. It's terrible.
Michigan fans,please just leave your comments below.
I mean, I mean,
Ohio State fans, we give ourselvesa reason to be roasted, as do you guys.
I mean, it's all fun, but please,just roses Todd Todd, the Ohio State.
Yes. Yeah.
Sorry. Okay.
Yeah. I was a Bluffton beaver, so. Yeah.
Hey, we got a we got events coming up.
(04:50):
You want to know what was going on?
I can't even like key.
I have a you guys can come. What?
Some might see the chalk on my wallif you're watching behind me.
I had a paint, a chalkboard, my officejust to sort out everything we're doing.
Which is awesome.
But, yeah,we do have a lot of events coming up.
What do we got coming, Todd?
Well, there are conferences and Vegas,
(05:11):
the first and the third week of November
and, November6th and seventh is the REPP conference.
That's Eli Jones, go to reppteam.com
and look for their conferencelink on there.
We will be there.
Shannon myself will be there.
And then Steve and Jess fromWow will be there as well.
(05:31):
So excited to have and see you there.
And I think somebody messed upbecause I am hosting the darn thing.
So I don't know,
He’s the MCC baby.
Well then they really messed up and said,hey, let's you and Shannon
really just kind of,you know, kind of be that be the thing.
(05:52):
I'm like, oh,
we're the thing, Todd, or the thingit's going to be it's going to be great.
I mean, it's such an honor.
In all seriousness, it'sgoing to be great to be there.
We really appreciate that you all haveso much trust and like into us.
And, you know, this is a fun ridefor us to be on with you all.
Absolutely.
And if you're not coming,you should really think about attending
just to see what kind of pinkoutfit I put Todd in. So,
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okay,let's talk about the next conference.
That's PMRE is two weeks later.
And, this is Brandon Cooper's conference.
This is a great conference as well,that we will be there
and, Shannon myselfLovey from the team.
You all know and love Lovey.
(06:38):
She's we're bringing over from thePhilippines, and Nick's going to be there.
So come and hang out with usand have some fun.
And, and also our guest is going to be onis going to be there as well.
So there's a couple minutes.
Yeah.
Yeah.
Bring in the Nick's so excited for that.
And and then the last one thatwe want to talk about is what Shannon.
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Well it's the best one.
Oh, I probably shouldn't say that.I'm sorry.
No. REPP, PMRE your great conferences too.
I shouldn't say that, but, I mean,we might be biased to this next one
because it's our it's our conference.
The first ever Spiro Sync in January.
Yes. And I think I meanI haven't even put the registration out
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and I kind of fearI think we already have 150 people coming.
So, we're going to fill out that spacequickly.
I am working on to you,you VIP's out there.
And if you are in the onboarding program,that kind of automatically qualifies
you too.
Todd, I'm working on a classroomfor us Saturday morning
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so we can do a fun VIP event in.
So full classroom.
My sister works at a collegeright there by 75 and 70.
So she's trying to help get us, bigold classroom for Saturday morning.
Nice. Yeah.
It'll be greatto spend some time with you all.
And you'll enjoy the weather and thefeatures of Ohio and going to live there.
(08:05):
Going to love it.
Yeah, it might be the weekend
I know that we get 60 right.
And one weekend in January every yearwe get to 60.
It just they could get luckyor they could get 16in of snow.
You know what else is nice is Shannon,
you're goingto have plenty of time to prep
because I don't think Ohio State'sgoing to make it to the playoff hole.
Oh. Oh.
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And that is our guest.
Why don’t we introduce our guest
I think we're havingtechnical difficulties with our our guest.
Yeah.
What is happening here
Well that's a great intro here, y'all.
And that's why I love him so much.
He is our people.
And, Nick is on.
He's the founder, co-founderand CEO of Titus.
(08:49):
Nick. Well, what a way to I love that.
Just welcome to the show.
Thanks for having me
Yeah.
Opening question, opening question, Nick,are you a Michigan fan?
I thought about saying I am no, I am not.
No, we can we can continue now.
my wife wet to USC.I went to Boston College.
(09:10):
USC is much better than Boston College.
So I read Felicity.And now in the Big Ten.
Nick is West Coast guys.
We got our our West CoastNick and our East Coast.
That's that'show I'm going to define them.
Yeah.
Well thanks for being on with us Nick.
We are extremely excitedabout this integration in this update,
(09:30):
in this kind of,
this relationship together wherewe're integrating Titus in to Spiro
We've talked a lot about it before.
I think I'd like to cover a little bitdeeper today because as I've mentioned
before, anything we doin Spiro is extremely important,
not just what it is,but the people behind it.
(09:52):
And you and I have talked for a while now.
You're, you know, our team and vice versa.
And I think your story justis completely in line
with why we do what we do.
I Spiro, you're connected.
You have the backgroundin real estate industry, and
I just wondered if you could giveus some background as to,
(10:14):
your history.
I think your your mom and your brother
with real estate and how that all tiesinto this idea of Titus.
Yeah.
So, I grew up with two parentsthat are real estate agents.
So, starting when I was a little kid,I was going to open houses every weekend.
I started my first companyin middle school making websites
(10:35):
for real estate agents,kind of early days of the web.
And then did thatall the way through high school,
my first tech company,that was like venture backed.
I launched in 2010, which was onlinelearning for real estate agents,
teaching them how to use the latestin technology, including Photoshop,
and which I don't think many agents,you know, started using Photoshop.
(10:57):
And we tried
and then my
most recent company was an onlinemarketplace, for, for real estate listings
that were off marketso that consumers could find them easier.
And so I've always been buildingfor real estate, my entire career.
And, one of the things growing up is,my parents were
(11:17):
when you have both parents that are paidon commission, it's kind of a crazy world.
It's famine or feast.
Multiple times.
I remember my parents
almost selling our houseor declaring bankruptcy
because they didn't sell any listings.
And all of a sudden we're going to Hawaii,you know what I mean?
And so I think those the roller coaster,it's something I felt really innately.
And that's part of thethe inspiration for building Titus.
(11:40):
And my co-foundersmom is a real estate agent.
So he's felt it as well. Craig.
And that feeling I think is somethingyou only get by living it.
And it's kind of speaking to what you justsaid, Todd
and, you know, living livingthe problem
is something that's importantwhen you're building software.
Yeah. For sure.
Can you say that one more time, NickI think that that is the statement
(12:01):
that I really like. Say that again.
Yeah.
Living the problem is something thatallows you to build incredible software
and unless you arereally living the problem,
and it doesn't meanyou have to be the best at,
I'm not the best real estate agent.
I've lived the problem in my own way.
And I think it just gives you a feelfor what people need in a different way.
(12:24):
Well, Nick, I the first question I have,
besides the Michigan question is I'mjust kind of curious.
I love names and name meanings.
Can, can you kind of tell us the storyof where the name Titus came from
for this company? For this business?
Yeah, of course I love names as well.
And one of the most important thingswhen you're naming a business is to
(12:47):
make it memorable. And so,
few ways you can make a name memorable.
We can talk all day on this,but double letters and also alliteration.
And so the original form of Tituswas the Titus tab, where a real estate
agent could actually open up a tabto do listing prep.
And so that's where the name came from.
(13:08):
The tab part didn't stick totally.
And we kept the Titus.
And it also happens.
Titus is the, the Roman emperor thatstarted the building of the Colosseum.
Which is also just a fun, a fun fact that,
kept the name going around him.
Interesting. Thank you for that.
So, can can you kind of give us ajust a broad overview of what is Titus
(13:32):
for for real estate media partners
that are watching this rightnow, photographers, videographers.
What what is this Titus integration?
What is the business.
Yeah,
yeah.
So put simply Titus is the paymentplatform for the real estate industry.
If you think about ecommerce,
they have Shopify, restaurants have toast.
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And now sure,there's other software around that.
We're only focused on payments,but a payments is a huge piece of this.
And real estate, media professionals, homestagers, anyone that helps prep listings
for sale, they don't have anythingthat's custom built for them.
Okay.
And you know, agentswhat happens because of
that is agents have to front the cashfor a potential payout that's months away.
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So inevitably they under investand despite it
being a massive win for themand their customer home sales
faster home sales for more.
I mean, I don't have to sell,
but the listeners of this crowd as as towhy it's beneficial.
But the resulting problem is that inphotography, only 35 to 45% of listings
(14:37):
use it for professional photographer,okay?
And only 15% go beyond a basic package.
And, you know,I think that alone just getting agents
to use a professional photographeris $1 billion opportunity.
And I think a huge reason
that why in real estateagents aren't spending the money
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is because they have to front the cashbecause of financial reasons.
And if you can just fix those reasons,we can expand the pie for everyone.
And I think that's
one of the beautiful thingsabout real estate, is there's so much
white space that you can go and expandthe pie.
It's not like you're getting a shootand someone else isn't getting it.
You can actually just get more shootsfor everyone.
(15:18):
And I think that's another placethat Todd, Todd
and I really connected about thisjust abundance mindset.
And that's,that's a big part of what we're built on.
And so how do we do this?We do it with really fast check out.
Pay at Close.
So giving the ability for agents to
move a payment to close in seconds.
And then there's lots of other featuresthat, that Todd
(15:39):
and I or us are collaborating on,
to make payments, a vehicle
to expand every job, job size as well.
it's incredible.
Nick, can you give us a little insight?
You shared some things with me when wetalked early on about who Titus is for.
And I think sometimes as real estatephotographers, like they,
(15:59):
they click your lowest packageor what we call photos only
and you're like,oh, they're too cheap to do it.
And then they show up in a luxury car.
And I think, I think wesometimes misunderstand our client
because there is all portionsof the industry, like the luxury car.
Maybe for the imageof getting those listings and it's
and it is a tooland I can see where it's justified.
(16:21):
But I think sometimes as photographers,we don't have the brain as the agent.
And I thinkwhen we can connect the brains, our brain,
with their brain,I think it becomes very powerful.
So just give us some insight on on who isusing and who you know who this is for.
Yeah.
So one of the most interesting thingsabout Titus is when we first started,
(16:44):
we and, and some of our customers
thought it would be for peoplethat didn't have the money
or had really low credit scoresand just had no cash in their bank account
or couldn't put it on their credit cardbecause their credit card was maxed out.
The reality is the opposite.
So our number one user is the agent thathas three or more listings outstanding,
and is actually looking to addthat Matterport ad that Twilight shoot.
(17:06):
But they have they're floating $5,000sometimes, right.
Or moredepending on how many listings they have.
And that'sjust a lot to float on a credit card.
And so what they do with Titusis they just move
all those payments to the closings.
And so then when they get paid,they're able to pay off, the photo shoots.
And then the other thing isthat we're also seeing agents
generally think of itas like a very premium experience.
(17:29):
Right? So oh my gosh,this is so convenient.
It's actually easierthan entering my credit card.
I can just move it to closeand not think about it.
And then people will then add other, otherpackages and increase the card sizes.
That's awesome.
Me as an agent, they're great.
Now, like I have
one listed right now, I have oneI'm shooting today and I have another one.
(17:51):
I'm shooting in two weeks.
Now, I'm fortunate that I have a broker
deale, with Todd, at Wow video tours,
so I kind of get thatlittle breathing room.
But to be honest, like coming from a placewhere I kind of already have that
breathing room, like,I order what the listing actually needs,
because I know I have 30 to 45 dayswhere I'm getting my bill from the office.
(18:15):
So I think to your point, I could seea lot of our top agents just loving this
because they are listing 10 12homes a month and that that bill does.
It's nice if you can push it out.
You know, those agents have a lot of themhave the money.
But to your point,
they're going to kind of go lowerbecause they have to make it spread right.
(18:35):
But to be able to float it and not worryabout it, they could actually market
the listing better and get more listingsbecause they have the money to do it.
Yeah.
And think about the real estate marketright now.
Right. So,
homes are taking longer to selland it's harder to stand out.
And so you have this huge problemwhere agents are going to be taking it's
going to take longer for themto get their commission
(18:56):
because days on market are going upand virtually every market in America.
And hold on, let's clarify.They're normalizing.
I really want to themI know that they're just normalizing.
Right.
90 to 120 days on market is normal.
Yeah, yeah. And but but what do they do.
What do agents do.
And I've seen this firsthand isthey ratchet down their spend on listings,
(19:19):
which is the exact opposite of whatthey should be doing.
Okay.
And so this allows them to either
not turn it downor turn it up and win more listings.
We have one agent who,he has asked me not to say his name
because he's figured this outas a competitive advantage.
What he's started doing is in this market,
(19:39):
he is offering to pay for the Premiermedia package.
Okay, so everything in the kitchen sinkthink like, if you're a photographer,
think the biggest package you have.
He's doing that and he's payingfor staging for his clients.
And he is charging 4% on the list side.
So he's charging1% more than everyone else
and he's winning every single listing.
(20:00):
Presentation, he said of closerate went from 20% to 90%.
When you raise his pricesand he's just using Titus
he's using Titus to deferall those payments to close.
And the homes are selling faster,selling for more,
and the clients got a white gloveexperience.
It really is one of these crazy winwin wins.
I mean, I guess the buyer pays more,but like it's still it's still a win
because they sometimesget a more turnkey home
(20:22):
on the seller, I mean the seller,the buyer will pay more.
But again the market's always goingto bear with the market opening.
Right.
So that to your point,but isn't as a listing agent,
my goal is to get the highest dollar valuefor my seller.
That's my job.
Yeah. And and the photographer.
So you can partner to do that versusfeeling like you're getting squeezed.
(20:47):
And so I think that's the beauty of Titusand what we're doing with, with Todd
and you and the Spiro teamis that we're actually packaging it
into a full payment solution,including credit card processing.
Which is really awesome,because then it's just right there
and it's super convenient,and we can do things like,
(21:07):
hey, this listing qualifies for payit close at a special rate.
Do you want to try it?
And we can justwe can work with the Spiro platform,
like think of it as, like two handsthat are just completely shaking,
to make sure that we are,
not only getting every photographer more,more jobs by offering pay at close,
(21:28):
but when they're at that moment of paying,they might just be like, you know what?
Let's add that.
Let's add that Matterport and
and I think that's really the beautyof this partnership.
The way I've, what I've said to to Toddand I'll say again,
if we're here in 12 months
and we haven't increased job sizes by 30%,
we need a change.
(21:49):
We need to do better.
And I think that's like,sounds like a crazy promise, right?
So 300 to 390 average.
Sounds like a crazy promise,but I think it's entirely possible
because it is such a win win.
And when agent I've seen it,when agents realize they can do this, they
that they're more than happy to spend.
Yeah.
And Nick we've seen that over the yearsat Wow
(22:10):
our media companywith the idea of a broker deal.
And this is almost evena better alternative to a broker deal.
The broker if you're if you're out theresaying well what's a broker deal.
Well broker essentially is floatingthat money for the real estate agent.
And in those deals
we see
agentsordering more because they're not paying
(22:34):
at the time of deliveryor paying at the time of order.
The broker doesn't care. The broker.
That's a good spin for the broker.
Again,we talk about speaking broker, a broker.
If a broker can get his agentsto increase their floor of marketing,
if all of the agents market better,they're going to get more listings.
(22:55):
They're going to stand outin the marketplace.
They're going to sell better.
And then the brokersjust simply floating this money,
and they're going out and talkingto every other agent
at every other company and saying,would you like this unique advantage?
I love that this really
it brings the broker dealinto the power of the photographer,
(23:15):
and it allows the photographer to say,do you want to pay at close?
And it's been interestingbecause I've been reading
a lot of you out there and I'mso glad you do it.
You listen to something, you know,you catch me on a tech talk,
you read something about Titus,you saw the newsletter,
and you go out on social mediaand you ask your agents,
would you like the option to pay at close?
(23:38):
And I'm so glad you asked the question.
And I love reading the comments.
Your agent is like, yes, would love it.
Love to know moreand then you have some age.
It's like, you better not do that.You're going to get stuck with the bill.
Like all like it.
It's just like I laugh because it's like,you don't have to worry about that.
As the photographer,you offer the benefit of it
and everything else is taken care for you.
(24:00):
So getting down to the nutsand bolts of it,
because we've gotten these questionsa lot, Nick.
So there are two portions to this update.
One is Titus being Pay at Closeand the other one is Titus
as a credit card processor,think replay stripe and square.
Let's cover the Pat at Close first.
(24:20):
That's kind of like your unique advantagewhere you can go out.
And what a better way to get agents
to understand that you know themand you know what they're going through,
especiallywhen days on market is going up.
But allow Pay at Close.
But what are the nuts and bolts of it?
So let's let's, let's just start off withis is there a fee involved.
(24:43):
Yeah, there is a fee.
And that's how, you know,we operate as a business.
But let's start with kind of wherewe started this conversation okay.
So if you think about like thatthat problem touch okay.
So the problem,that photographers will have
with any type of payment is like,I need to get paid quickly
(25:03):
and I don't want to think about itafter I get paid.
Right.
And so that's how we've built Titus.
Okay.
So the way Titus works is an agentwill select pay at close,
when they're paying for, a jobright within Spiro.
So either pay on downloador pay on order and,
(25:23):
they then go throughif it's their first time they sign up.
And it's a very short application.
On average, it takes less than two minutesafter they've signed up.
It takes less than 10s okay.
And they can seeif their property qualifies for pay at close
just over 80%.
Of agents and properties qualify.
And if it does,they press a button to agree to the terms
(25:47):
and then the photographerwill get paid instantly.
So we will send that moneyinstantly to their bank account.
The bank typically processesthe next morning minus our 4% fee.
So we charge a 4% payment processing fee.
Think it likethink of it like a credit card fee.
And that coversthat is for us covering all of the risk
and all of the coordinationof getting pay to close.
(26:08):
Okay.
The agent will then have our risk adjusted
fee depending on them in their listingbetween 0 and 8%.
And so I want to like the majorityare getting zero, which is crazy.
So there's no fee to a lot of the agents.
Most that's the biggest category we have.
And that just makes it a completeno brainer, right?
(26:29):
So there's no fee that means $300 shoot
I pay $300 at close.
And then the photographer gets 300 -4%.
Okay.
But again,that fee to the agent is between 0 and 8%.
And we handle everything.
So the magic of Titus,the technology we've built is
the system that allows us to get paidat or around closing.
And you don't have to worry about it.
(26:49):
Just like you don't have to worry if anagent doesn't pay their credit card bill.
It's not like Visa'scalling you up and saying, hey,
you know, like,can I get that money back for the shoot?
It doesn't work that way.
We're a payment processorand that's how we work.
Nic. I think it's just amazing.
So let me let me justgive you all some rough math.
We'll use the $300 figure.
So right now if you use Titusand you give this huge
(27:10):
benefit to your agents at pay at close,you are paying
probably at the most$3 more than what you're paying.
Stripe and square right now.
Three bucks, y'all.
And we didn't even factor in thethe idea that you're going to sell them
more because they're going to say, oh,this is great, I want your luxury video
(27:31):
because I can have the flexibility to paywhen the house closes.
I can choose the luxury videowhere my face, which is my
brand, is in the video.
I'm going to use it not only to sell thislisting, but get my next listing.
Like, I'mso excited about what your features
and benefits are to the agentswith this. It's insane.
(27:52):
And beyond that, let's think aboutwhat is your margin on that luxury video.
It's really, really high.
I know ours are.
Everyone is.
When you can add on services,add an appointment.
Many beautiful things happen one
your average order value is higher
your as you add on products,your margin is higher.
(28:13):
It means you put more moneyin your pocket.
Also, if you have photographers,your photographers are making more money
so they don't take the other jobs.They stay low.
They can stay with you.
You can pay them enough.
Like this solves so many problems,and not even the fact that you're
helping the agent grow their business.
It's it's really insane for $3 more,but you're going to make
(28:34):
what your profit on a $200 luxury videoor $800 luxury video.
So I think it's just an and sorry,I'm just I'm so excited about this
I also just want to reiterate
what Nick said about the fee to the agent,
because this was about the first questionI asked him.
Is, what is the interestrate to the agent?
(28:55):
Because, like Nick had mentioned,my parents growing up, I remember the days
where the credit card bill came inand that sucker just compounded,
and you paid $15 on it,but you got added $150 in interest.
I remember those days.
I was like, I we can't give this thoughtto agents that they're they're not.
(29:17):
This is just going away.
Like, we can't give a 20% interest rate.
And it's not at alllike Nick said, agents look good credit.
They're getting zero yes,
0% interest rate on it.
And pending their credit score,it's going to fluctuate a little bit up to
six and a half, 7.5%.
(29:37):
Yeah.
And if you if you think about like a firmor Klarna or these buy now pay later,
you've all seen it like payingfor 50% of Americans have used those.
Okay.
The main reason for that is because
most people are getting a 0% rate.
So pelotonwas really the breakout on this.
You know, the stationary bikes,and peloton, once they integrated a firm,
(30:00):
I think they saw 40%growth in average card size,
which more than made up in a firm's fees.
The peloton are much higher than 4%,but it more than makes up the fee,
that that peloton is is paying.
And so by paying that 4%, you'reactually able to supplement those agents.
And that 0% rate is a huge drawbecause what also happens is
(30:20):
people come in and be like, oh,I wonder if I got that 0% rate?
Oh, it's 4%.
Oh, that's like a couple dollars.Yeah, I'll just do it.
And so I want to likethat is also a big piece of it.
And our rates are flat ratesnot compounding interest all just do it
close.
So it's all just tacked on a closeto make it really easy and simple.
Very simple.
(30:41):
Very. Yeah.
Not confusing either. Right.
As an agent it's very clear.
Okay. Great. I know what I'm doing.
And asan agent to be honest I'll pay for five,
six, seven, $10,maybe a little bit more to defer it
because that's enabling me to spend moneyon the marketing and other other ways.
Right.
(31:02):
a listing is gold.
I mean,so we talk about in the business, right.
listings makes babies.
And if you want to be successfulin this business, you got to list houses.
And and when you when an agentturns on Titus, we're actually
opening up a small line that they can usetowards their commission,
which, you know, as a photographer,which means you now have this,
this line of credit that, you know,the agent has on this listing
(31:24):
that you just did a shoot for and you cansell other services to them as well.
Okay.
And so, like, we're seeing somereally interesting smart entrepreneurs
that are leveraging this abilityto sell other services,
whether that's advertising,you know, obviously listing websites,
all of these other things that you can dowith your photos for those agents,
(31:46):
are now
possible because their wallets openand you know, that
All right.
So let me play devil's advocate.
First question that popped into my mindwhen I first heard about this from Todd.
Nick is what happens,for the photographer,
what happens for the agentif the closing doesn't happen?
Yeah.
So first of all, answer the photographerquestion for nothing happens.
(32:09):
The photographer, their money,they've gotten their money.
They don't have to worry about it, but
we are
also well aware that you are trustingyour customer with us.
And so if your customerhas a bad experience with Titus,
they're going to come back to you and belike, hey, you told me to use this thing.
And so we're well aware of that.
And so we want to make sure
that the experience for the agentsis really, really premium and top notch.
(32:32):
It's also the experiencemy parents are going to be having.
Okay. I'll remind you.
And so,if the the listing falls on a contract,
if the listing gets canceled,if the home doesn't sell,
that every single Titus payment
is actually a six month short term loan.
So the money is due in six months.
Whatever they paid the photographer,they owe in six months plus the fee, but
(32:57):
they also have the option to roll itto another commission if they want to.
Okay.
So if they've got another commission,
if 123 main streets for sale,oh my gosh, I got 122.
And 123.It falls out of contract.
I can roll that paymentto my other closing for a small fee.
I can roll it to another closing
and then I can just pay it offwhen that home sells.
(33:18):
And we have seen agentsdo that and love that feature.
Yeah. Okay.
This is proofthat when you grow up in the business,
you really think about all the thingsthat can happen on the back end,
and then you literally builta software company around it.
It really is amazing Nick like it'syou've thought of these things
and it is importantyou also think like an agent,
(33:40):
which is really important to understandhow agents think.
And to put this in yearsinto your product.
Yeah. Every day.
I mean, yesterdayI was having conversations
about transaction coordinators and,you know, how they get paid
and can we actually improvethat whole process
and just make everythingreally, really seamless at close?
And so we're we'redeep in the agent world.
(34:01):
Yes. Yeah.
Which is great.
So and not only that, you know, and I,
I think it's amazingthat this pay at close is there.
But honestly,
what you offered us as a merchant serviceprovider is pretty good deal.
So I don't want to discount usnot talking.
I mean, yeah,the pay at closes, it's going to be what
(34:21):
we all love and change,you know, the world.
But honestly, just as a payment processor,like I'm excited for our clients
to be able to use that.
So why don't you share with uskind of how you guys operate on that side?
Yeah.
So, we are both a payment processorand we have pay at close
and we integrate the two. Okay.
And so it's one simplecheck out for every single job.
(34:44):
And, our payment processing terms, again,are optimized for photography.
So a lot of it is about speed.
So we, we, we get photographerspaid four times faster than stripe
or in square.
And so that's one of the thingswe've really optimize is
how can we make sure you getthose cash outs as fast as possible.
Our out of the boxrates are the same as stripe,
(35:07):
but we have a special with Spirowhich I don't want to, you know, spoil
all each one of you guys share.
For lower rates for the people that are,are starting with,
the Spiro Titus partnershipearly on the credit card side.
And then we're going to be layering ona lot of other really cool features
for credit cardprocessing to, increase every card size.
(35:28):
Okay.
So like tips
and some of these things that that I know,Todd, we've been talking about,
to make it a really customizedfull checkout for, photographers.
But, Shannon, do you want to share the,the early special?
I can, and a lot of our users that are,
alreadylisteners have maybe heard a little bit
(35:50):
about this in the last couple daysthat we are offering an introductory rate
at 2.6%, that rank 2.6.
That's crazy. Insanely low,
and we have a waitlist going.
So, if you haven't signed that waitlist,
you want to definitely get to,it will include those things.
(36:11):
And when we post the podcast.
So but definitely or just,shoot me an email if you need to,
if it's just shannon@spiromediaand we'll get you all the information.
But we are super excitedand we have clients.
Like I said, they are very,very excited about this, not
only to close, but to have an opportunityto save some money on the other side.
(36:33):
What I think is key though, and I'm surethis is running through some photographers
heads right now because they're probablythinking more to 2.6% and 4%.
But Nick,
why don't you tell themthe really cool news
if they're usingyou for merchant services?
Real quick, let me touch on one thingabout that waitlist.
So, you know,
originally what we had talked aboutis only opening up 100 slots
(36:53):
for the, the discounted rate of 2.6%.
But it was like a Taylor Swift concert.
It filled up in less than five hours,maybe even less than two hours.
So fast, with Spiro customers.
And so,we're opening up more slots, and so,
everyone get on that waitlist,
and you have the opportunity to,
(37:15):
to get that to lock in that same ratelock it in.
Yeah, absolutely.
So just if you're not sure what number
you are on the waitlist,don't worry about it.
Just get on there.
And then we'll kind of figure outhow many and we'll get as many of you
in as as possible to that waitlist. So.
So that link will be belowif you can click that link.
(37:36):
Just sign up for the signup to be on the waitlist.
Even if you're in between,just sign up for it.
If you're like,
I need a little more informationthat at least will hold your spot in line.
I do want to mentiona couple of other things,
because it was really important in thehistory of this relationship is that
when we were creating this integration,
(37:59):
the idea of payment processing and again,understanding you as a real estate
photographer, there are more pain pointsthat we have heard from you all
about stripe and square of course,everybody wants to have a better rate.
And for credit card processing,if you use Titus
you will save moneyversus stripe and Square.
Get on the list though, okay.
(38:21):
And additional to that, there's even more.
There's like Billy, Billy Mays.
But wait, there's more.
Not only did we hear about the rate,but we heard about the time
that you're funded.
Okay, so I've learned a tonfrom Nick about the industry,
and you are probably funded inwhat's called in a technical term,
(38:43):
t plus 3 or 4 T stands for today.
And then the number after the plus standsfor the number of business days
from when your client pays to
when the money goes to your bank account.
And we understand that waiting three,
4 or 5 days if you're spendinga weekend is problematic.
(39:04):
We know you have photographers to pay,editors to pay, so on, and so forth.
Well, everyone's going to get t plus one.
So today plus one.
So your client pays on Monday.
That money is in your bankaccount on Tuesday.
All right.
So that is athat's a great feature in itself.
But we keep going.
(39:25):
And this I'm surprisedNick just didn't want to beat me up
because I'm like Nick, let's do more,let's do more.
Let's do more.
Like I, Iso he kept going like, okay, great.
What. Let's add some more features.
So if you process with Titus credit cardprocessing
and you useyou'll have pay at close as an option.
You have no monthly fee on any of those.
(39:48):
And you also have the ability
to accept tips at the time of payment.
All right.
So many of us have asked for tippingto be allowed in Spiro
Titus is going to bring it to youin the interface.
And again, it's going to be simple. It'sgoing to be beautiful.
And your client is going to understand.
And it's a way that your client
can show their appreciation to youor your photographer.
(40:11):
That tip, that tip simply gets added
straightinto the payout that you will receive.
Okay.
And then you can decide what you wantto do with it, with your photographer.
You know, if you're giving them all of it,or you taking a small amount back
for the credit card fee or whatever,you decide it's your business.
You decide what you want to do,
but that's going to hitstraight to your bank account.
So many features.
(40:33):
We have more features coming up in mindthat we will continue to build.
And this is the thing that I just loveabout working with a company
such as Titus with Nick is, again,they understand you and your clients,
and we're continuing to just thinka crazy amount on what technology could do
and how it could impactand change your business.
(40:54):
Again, this is Spiro podcast,a business, a real estate photographers
and all of you are coming to us right nowand saying, hey, August is dead.
What do I do?
And I understand thatfeeling that you get in your chest
was like, hey,I mean, we shot 80 job two days ago.
I think we had 44 on the schedule.
Okay, that's half I get. What?
(41:15):
The ebbs and the flows of this business.
So it's our goalto bring more value to you and give you
not only the technology, but
we're really going to help youwith the education to your clients.
Promotional materials, maybe.
Shannon, Shannon, Nick,you guys could talk more about,
because we really want to set the usersup for success
(41:37):
and giving them the tools of,hey, just copy and paste
this newsletter, just print these fliersand drop them off in an office.
Is it going to be that simple?
Yeah, we're we're working on it.
We're definitely working onthe social media post that they can have
post, just add their logo,that's it and get it out there.
We can continue to workon different newsletters and things.
(41:58):
That's our goal.
I've had Spiro anyway, lately,with our cycles, trying to be able
to create and with our last cycle,we give a newsletter out,
we want these things to be easy for youguys.
We get how we are running around, right?
With wearing many hats.
And so Nick and myself are kind of
working on some of these templatesand getting them all ready.
(42:20):
And with your ownQR codes or your own order pages
so people can just click scan in in order.
Yeah.
The way I think about it is like,I if any of you are
our children of the 80s and early 90s,it's like Captain Planet, okay?
You know, you have the power combining.
And, you know,Todd and I were here last night
(42:42):
and this morning over email,just discussing the data
that we're getting from the local markets,listing status
and, you know, and what new featurescan we bring to the Sparrow community.
And so I don't want to give anything awaybecause that's a whole
nother thingwe can talk about in the future.
But it really is an awesomecombining of powers, that,
(43:03):
we if we, I think if we continue to buildand then listen
and have conversations with the community,
I'm so excited to see where things are inin three months, much less a year.
It's going to be crazy. And so,
just a quick teaser of things to come.
Yeah.
Nick, I actually mentioned that on my techtalk last night that
(43:25):
if you want to go find it, it's actuallyAugust 28th is what you need to look for.
And, the comments were like,wow, that would be insane.
So sorry to teaser to you.You can go find it on there.
We won't talk about it now, but,I thought you mentioned Captain Planet.
I'm like, oh, okay, that's that's cool.
Well,
(43:47):
yeah.
I mean, I think what'sgreat about this is, And you just said it,
Nick, you know, we're going to listen,we're going to get this out there.
We're going to listen to our clients and,and and that's kind
of, you know, it's why we're who we are.
We listen, we try to give our clientswhat they're looking for
that will help them,that will help their businesses.
(44:08):
Why we're doing Spiro Sync in January.
So we will
help you guys get
this out there, promote your businesses,and then we'll listen to see what else
you guys need.
But that's that's what I love
about partnering with great peoplelike yourself and your company
is to bring these really cool things
to our people where they can actually growtheir business.
(44:29):
It's a ton of, ton ofjust really high value
add featureswith this, this collaboration.
Nick, we're excited.
Can I can I ask the question of the group?
So when's the integration happening?
When does this launch?
Who's going to answer them?
(44:50):
Our cycle will launchon the 23rd of September.
So now, that said,we do have the waitlist going,
and Nickhas actually hired people to help.
Which is amazing.
And so between our onboarding teamand his onboarding team,
we're going to make sure we helpget people into the system.
(45:10):
It's going to be a very great integration.
One quick, easy,
but we'll probably over the next coupleweeks be working on that waitlist
and just getting peoplekind of ready to go.
So that moment on the 23rd,they can do their marketing,
and they can get they can be ready.
So that's kind of whatthe next couple weeks looks like.
Yeah.
So this will be a phasedrollout beginning with the 23rd.
(45:32):
So get on that list, get signed up.
And we will beginrolling this out on the 23rd.
And then there will be subsequentroll outs and the days and the weeks after
the 23rd.
Well, Nick, thankyou so much for everything you've done.
Not only with ties,but being on the podcast here.
You know, I think one thing that wherewe both align and we all align with this
(45:53):
is that we are excited about more to come
and the idea of the community you all out
there are the most important thing to us,and we want to make sure that we're
continuing to understand what you needand deliver on what you need.
And one thing we love aboutis connecting with you.
So Nick, I know we've got somenot only, you know,
(46:15):
let people know howthey can get Ahold of you now,
but they're going to be able to bewe're going to be in some places
of these conferences that we talked aboutso people can come meet us.
Let's hear what ideasyou have connect with you, Nick.
How can they find you?
Yeah.
So with similar to I think, thethe mindset of Spiro,
we pride ourselves in being accessible.
(46:36):
Okay. So you can email meNick@gotitus.com.
That's not like any other.
That's my real main email.
And then you can go on our websiteand find our phone number
and call usand talk to a member of our team, okay.
Because that accessibility is important.
We're also going to beat the PMRE conference.
And table,I've asked for a table next to Todd.
And and I enjoy a little bit of craps.
(46:59):
So if you want to play some crapswith me, I'll happily play.
And then we're going to get to knowI like to.
Yeah, that's as well.
Yeah. And then, and then we'll go,
we'll also be at the Spiro conferencein January.
Yeah.
So if you're at PMRE guys and I, I'm surethey're going to do the set up similar
to last year when you walk into the room,just look for the two tallest heads in the room.
(47:23):
For those of you listening,those that don't know that, Todd is like
six seven and apparentlyNick is super tall too, so not that.
Don't walk on inand just look for the tall
heads and and head our way.
And we might have some fun t shirts on toothat we're talking about doing.
So just definitely stop by thesethese two guys.
(47:45):
I will tell you, we'll sit and talk to you
and give you all the secretsyou want to know,
about how to run a successful business.
Again, that's that abundance mindsetthat we all live by.
So definitely stop by and see us,because we'll be excited to see you.
See you guys out there.
Nick,it was such a pleasure to have you on.
I'm excited about the
the launch here on the 23rd of Septemberand what's to come in the future.
(48:09):
Yeah, it's going to be a really funfew months and fun few years, honestly.
Yeah.
Not just forever.
Years and years and forever.
Hey, guys.
Well, I'm going to tell you allto have a great Labor Day weekend
by the time this airs,hopefully everybody had a great labor day weekend.
But and again, I, I have to do itone more time.
(48:30):
Go Bucks.
Like a true fan.
And I wouldn't expect you not to do it.
That's like asking for the sale.
That's something you taught mea long time ago.
So I just so appreciate that.
Well, y'all, that's going to do it for usthis week.
Thank you so much for your timeand joining in.
If you have questionsyou can always email us.
Hello@spiro.media.
(48:52):
We just love the trustand the community that you bring us.
Take time to enjoy the blessingsthat you have and take a breath.
We'll see you all next week.