To keep pace with a changing real estate market, buyer’s representatives need to find new buyers to serve and new services to bring them.  One important growth area is relocation—buyers who are transferred by an employer or who move to take up employment.  Relocation buyers have all the concerns of all other buyers, plus the added stress associated with moving to an unfamiliar area.  They are often in desperate need of representation and counseling.  To best serve a transferee, a buyer’s representative needs to have a thorough understanding of the relocation process as well as the  specialized services transferees’ needs.  Working within the relocation process, relationship building and marketing your new niche are just a few  central skills examined in this course.

  Module One Objectives:

• Describe how the relocation business has evolved to its current state

• Explain the relocation process in third-party, corporate/broker, and transferee/buyer’s rep transactions

• Identify the roles and expectations of parties in a relocation transaction

• Describe compensation methods

Module Two Objectives:

• Outline basic legal responsibilities in representing relocation clients

• Identify the relocation requirements of corporate transferees

• Identify the relocation requirements of relocation companies and corporations

• Identify ways of developing effective relationships with transferees, relocation companies and  corporations

Module Three Objectives:

• Prepare to represent a transferee in a relocation

• Identify a transferee’s relocation needs

• Orient a transferee to a new community

• Describe a basic method of locating a new home for a transferee

• Assist a transferee in completing a relocation

 Module Four Objectives:

• Assess relocation representation opportunities

• Identify ways to market relocation services

• Develop a personalized relocation marketing plan

I.       A Brief History Of The Relocation Business

§         What Is “The Relocation Business?”

§         The Beginning: Home-finding Services and Referral Networks

§         The Advent of Equity Liquidation Services

§         The Third-Party Relocation Company

§         The Modern Setting

1.       Consolidated, Mature Relocation Companies

2.       Referral Networks

3.       In-House Relocation Departments

4.       Third-Party Relocation Capability within the Brokerage Franchise

II.      The Buyer Representative’s Market Segments

§         Third-Party (Relocation Company) Relocations

1.       Transaction Flow Chart

2.       Interactions of the Parties

3.       Roles And Relationships

§         Corporation/Broker Relocations

1.       Transaction Flow Chart

2.       Interactions of the Parties

3.       Roles And Responsibilities

§         Transferee/Broker Relocations    

1.       Transaction Flow Chart

2.       Interactions of the Parties

3.       Roles And Relationships

III.    Inside A Third-Party Relocation Transaction

§         The Employee Becomes a Transferee

1.       The Benefits Package

§         The Relocation Company Initiates The Move

1.       Counseling

2.       Start-Up Actions

§         Selling The Residence

1.       Processing the Listing Referral

2.       Determining Initial Representation

3.       The Buyout Package

4.       Closing and Reporting

§         Purchasing The New Home

1.       Preparations

2.       The Home Search

3.       Closing the Transaction and Moving In

4.       Financial Reconciliation

§         Compensation

1.       Relocation Company Compensation

2.       Relocation Department Revenue

3.       Licensee Compensation

I.       The Transferee Relationship

§         Fiduciary Duties

§         Representation Agreements

1.       Standard Agreements

2.       Custom Agreements

§         Profile of the Corporate Transferee

§         Your Service Philosophy

II.      The Corporation Relationship

§         What Does the Corporation Require?

§         What Does the Corporation Expect?

§         The Buyer Representative’s Corporate Relationship

1.       Potential Conflicts

2.       Some Do’s and Don’ts

III.    The Relocation Company Relationship

§         What Does the Relocation Company Require?

§         What Does the Relocation Company Expect?

§         The Buyer Representative’s Relocation Company Relationship

I.       Preparations

§         Initiating the Transferee Relationship

§         Pre-qualifying

§         Preparing a Guidebook

§         Previewing Inventory

II.      Uncovering The Transferee’s Needs

§         Ascertain Needs Over Time

§         Be Flexible

§         Let Transferees Qualify Themselves

III.    Finding The Right Home

§         Showing a Community

1.       Preparations

2.       The Tour: Phase One    

3.       The Tour: Phase Two

§         Selecting a Property

1.       Show and Inform

2.       Counsel to “Buy Right”

IV.     Representing The Transferee To Closing

§         Negotiating an Offer

§         Making Sure it Closes

V.      Assisting In The Aftermath

VI.     Servicing Tips

I.       Identifying Your Relocation Niche

§         Self-Assessment and Market Assessment

1.       Personal Factors in Relocation Representation

2.       Market Factors: Is It Worth It?

§         Opportunities to Specialize

§         Specialization Tips

II.      Marketing To Relocation Segments

§         Third Party Relocation Companies

1.       Targets

2.       Marketing Messages for Relocation Companies

3.       Marketing Tactics for Relocation Companies

§         Corporations

1.       Targets

2.       Marketing Messages for Corporations

3.       Marketing Tactics for Corporations

§         Individual Transferees

1.       Targets

2.       Marketing Message for Individual Transferees

3.       Marketing Tactics for Individual Transferees

III.    Your Marketing Plan

IV.     Final Thoughts

End of outline