Back to course list

Successful Relocation Representation

COURSE OBJECTIVES AND ORGANIZATION
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. Unlike conventional homebuyers, these buyers are often virtual babes in the woods, completely unfamiliar with their new area and in desperate need of representation and counseling. Unfortunately, their situation is also more complicated than that of a conventional buyer. To serve a transferee, a buyer's representative needs to know how the relocation process works as well as what kinds of services a transferee needs. Then, of course, one needs to know where and how to find transferee business.

This course consists of four modules to address what a buyer's representative needs to know in order to succeed at representing transferees.

---

Module One:  How Relocation Works

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

 Outline
 
A BRIEF HISTORY OF THE RELOCATION BUSINESS
WHAT IS "THE RELOCATION BUSINESS?"
THE BEGINNING: HOMEFINDING SERVICES AND REFERRAL NETWORKS
THE ADVENT OF EQUITY LIQUIDATION SERVICES
THE THIRD-PARTY RELOCATION COMPANY
THE MODERN SETTING
THE BUYER REPRESENTATIVE'S MARKET SEGMENTS
THIRD-PARTY (RELOCATION COMPANY RELOCATIONS)
CORPORATION/BROKER RELOCATIONS
TRANSFEREE/BROKER RELOCATION
INSIDE A THIRD-PARTY RELOCATION TRANSACTION
THE EMPLOYEE BECOMES A TRANSFEREE
THE RELOCATION COMPANY INITIATES THE MOVE
SELLING THE RESIDENCE
PURCHASING THE NEW HOME
COMPENSATION

---

Module Two:  Building Relocation Relationships
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

Outline:
 
THE TRANSFEREE RELATIONSHIP
FIDUCIARY DUTIES
REPRESENTATION AGREEMENTS
PROFILE OF THE CORPORATE TRANSFEREE
YOUR SERVICE PHILOSOPHY
THE CORPORATION RELATIONSHIP
WHAT DOES THE CORPORATION REQUIRE?
WHAT DOES THE CORPORATION EXPECT?
THE BUYER REPRESENTATIVE'S CORPORATE RELATIONSHIP
THE RELOCATION COMPANY RELATIONSHIP
WHAT DOES THE RELOCATION COMPANY REQUIRE?
WHAT DOES THE RELOCATION COMPANY EXPECT?
THE BUYER REPRESENTATIVE'S RELOCATION COMPANY RELATIONSHIP

---

Module Three:  Providing Superior Service

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

Outline:

PREPARATIONS
INITIATING THE TRANSFEREE RELATIONSHIP
PREQUALIFYING
PREPARING A GUIDEBOOK
PREVIEWING INVENTORY

ASSISTING IN THE AFTERMATH

SERVICING TIPS

---

Module Four: Developing a Marketing Strategy

 Objectives

Assess relocation representation opportunities
Identify ways to market relocation services
Develop a personalized relocation marketing plan

Outline:  IDENTIFYING YOUR RELOCATION NICHE SELF-ASSESSMENT AND MARKET ASSESSMENT
OPPORTUNITIES TO SPECIALIZE
SPECIALIZATION TIPS

   MARKETING TO RELOCATION SEGMENTS THIRD PARTY RELOCATION COMPANIES
CORPORATIONS
INDIVIDUAL TRANSFEREES