How do RMCs select real estate agents?
Relocation companies follow a specific process to choose the right real estate partners. Real Estate Analyst Sherrie Witte has all the details in this Relo Tip Tuesday.
Complete transcript: “Hi, I’m Sherrie Witte. Welcome to Relo Tip Tuesday! My question is: ‘How do relocation management companies select real estate agents to assist your relocating employees sell their homes?’
First, did you know that there are two million active real estate licensees in the U.S. today? But how many of them truly understand third-party corporate relocation, especially those complex AVO and BVO tax-sheltered programs?
RMCs choose real estate agents at the broker level. But what does that mean? Referrals are placed to brokerages that have a focus on third-party relocation and, most importantly, a relocation director. This relocation director is dedicated to these types of moves. They understand the tax shelter, and they train and they manage and they select agents that best meet the needs of your relocating employees. Relocation directors are also usually members of Worldwide ERC and the Relocation Directors Council. These are strong indicators that they are the right people for your relocating employees.
So why else do RMCs partner with brokers that have relocation directors?
– To price the home for the timeline and address repairs and improvements
– To ensure the home is professionally marketed
– To ensure the employee is protected and not signing any compromising documents
– To work quickly to sell a home and avoid an inventory situation
– And to manage vacant home utilities
– And we want to make sure that the relocation departments and the RMCs work together on any issues that may pop up along the way
If brokers have a business model with a relocation director and a dedicated team of relocation-trained agents, they should have the expertise to facilitate your employees’ relocation benefits. That’s why RMCs choose these types of brokers. Thanks for watching!”