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Old 06-05-2009, 09:38 PM
 
Location: NW Las Vegas - Lone Mountain
15,756 posts, read 32,479,957 times
Reputation: 2661

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Quote:
Originally Posted by southernlady5464 View Post
As a member of USAA and working with Mover's Advantage, even if they didn't rebate the money, I would work with them. Having a referral to an agent in a city where you do not know anyone and have a company vet that agent/agency for you is invaluable. Otherwise, it's like throwing darts at the yellow pages. And if you get someone you don't like, you are stuck with them.

I was given a couple of agents to interview at both ends before making my choice. The ones here were personal interviews, the ones at the other end were telephone interviews.

Our previous move was covered under a relocation package by my husband's company and we couldn't use USAA's Mover's Advantage. The realtor was a disaster and was less than helpful. And I ended up finding the house on my own altho she got to take credit for it. She actually had the nerve to inform me that the realtors in the city didn't CROSS the bridge from Wilmington to work Brunswick County (our house is 5 mins from Wilmington).

Yes, the rebate is nice but it's NOT why I use Mover's Advantage. It's the quality of the realtors that I get. And the fact that USAA is behind them for me.

Liz
As a general rule I would point out that agents who accept such deals are generally coming in or going out or high volume specialists or military specialists in army towns.

I won't do it though I will agree to provide an equivalent rebate to service people...but I consider any commission reduction part of the rebate.

Note that the rebate will tend to keep an agent from showing the client certain homes. Start paying a 35% rebate on a 2.25% commission and the picking gets real slim. So the agent does not show those...which in some places are the best deals available.

So in most situations you will not get high caliber agents on these rebate programs. When I get to the point of thinking about doing one I just go off and take on a couple of low end clients. That is a much more socially redeeming way to get low pay then giving it to USAA.
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Old 08-05-2009, 02:01 PM
 
Location: Albany, OR
540 posts, read 1,895,282 times
Reputation: 356
Correct me if I'm wrong (heck, I know you guys will) but it's my understanding that:
(a) USAA is part of the CARTUS network - which actually handles this. It's NOT USAA itself.
(b) Getting your mortgage from USAA is getting your mortgage through PHH Mortgage, NOT USAA itself

As a USAA member, and as a REALTOR I have seen both sides of this. My first mortgage was through PHH...you get there via USAA, yes, and it's a special program, yes...but it is NOT USAA solely. I had a client who wanted to sell (their company was relocating them). They wanted me to list their house, and I had to sign up through CARTUS to get approved. (it was a 40% referral!) I said, no thanks!
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Old 08-05-2009, 03:25 PM
 
Location: Columbia, SC
8,844 posts, read 17,437,561 times
Reputation: 6194
Quote:
Originally Posted by DavePautsch View Post
Correct me if I'm wrong (heck, I know you guys will) but it's my understanding that:
(a) USAA is part of the CARTUS network - which actually handles this. It's NOT USAA itself.
(b) Getting your mortgage from USAA is getting your mortgage through PHH Mortgage, NOT USAA itself

As a USAA member, and as a REALTOR I have seen both sides of this. My first mortgage was through PHH...you get there via USAA, yes, and it's a special program, yes...but it is NOT USAA solely. I had a client who wanted to sell (their company was relocating them). They wanted me to list their house, and I had to sign up through CARTUS to get approved. (it was a 40% referral!) I said, no thanks!
You are incorrect.

USAA is a seperate entity from Cartus and PHH on all accounts but they commonly work with Cartus Relocation companies.
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Old 08-05-2009, 04:13 PM
 
Location: Home is where we park it.
3,091 posts, read 8,204,834 times
Reputation: 3143
Quote:
Correct me if I'm wrong (heck, I know you guys will) but it's my understanding that:
(a) USAA is part of the CARTUS network - which actually handles this. It's NOT USAA itself.
(b) Getting your mortgage from USAA is getting your mortgage through PHH Mortgage, NOT USAA itself
As the poster just above me stated, you are incorrect.

USAA is OWNED by the members of USAA not by anyone else. We all own it. It's governed by a Board of Directors. If you haven't read the information they send you each year, you are doing yourself a disservice.
About USAA
Quote:
In 1922, when 25 Army officers met in San Antonio and decided to insure each other's vehicles, they could not have imagined that their tiny organization would one day serve 6.8 million members and become the only fully integrated financial services company in America.
Quote:
USAA is not a publicly traded company, so we don't answer to stockholders we answer to our members. They rely on us to suggest products and services that meet their financial needs. In fact, some of our best advice costs absolutely nothing. Advisors in our Financial Advice Center are here to answer questions, large and small, at no charge.
Cartus is owned by Realogy

Now, what may be confusing is that most RE Agents work with both programs.

Liz
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Old 08-05-2009, 04:32 PM
Status: "October is the eighth month" (set 19 days ago)
 
Location: Just south of Denver since 1989
10,676 posts, read 28,486,584 times
Reputation: 6842
I will match the rebate for relo companies Costco and USAA, but I refuse to pay 30-40% of my commission to them for business so that the buyer can get $2,000.
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Old 02-24-2010, 07:12 AM
 
1 posts, read 11,076 times
Reputation: 15
I totally agree with the realtors posts here. We have been USAA members for over 45 years, and this is just a scam. I contacted them and couldn't understand why someone did not call us. I was told by USAA, when I ask where the money came from....."we pay it"......well, no wonder a realtor doesn't want to participate in this program.

USAA makes enough money off of us, that I will not deal with this program. Frankly it is fraud in my opinion.
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Old 02-28-2010, 07:55 PM
 
3,647 posts, read 9,305,546 times
Reputation: 5427
After doing some shopping around for mortgage rates, I was surprised to find out that the local bank rates were extremely competitive and actually a better deal. The other thing that we discovered was that the local bank was very amiable to work with us and make some concessions regarding the terms of the loan and as a result we decided to accept the offer.

I was a HUGE supporter of USAA, but I've found that their service is going downhill - and that is A LOT of what I was counting on from them. Ever since they added the civilian banking, there has been a real downslide. We've moved over our banking already. We've decided to keep the credit card and the life insurance for now, but when we finish this new home purchase, we'll be switching our auto insurance too... I was REALLY surprised to find out they aren't the lowest in homeowners and auto anymore.
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Old 04-06-2010, 07:05 PM
 
1 posts, read 10,742 times
Reputation: 13
Angry USAA Movers Advantage Program...ugg

Quote:
Originally Posted by mooven View Post
Have any realtors here worked with the USAA Movers Advantage Program? I'm wondering if realtors using this program lose a percentage of their commission to USAA.
Yes. Brokers kick back a huge 35% of their commission to USAA and the remainder is, of course split with their Firm. So, on a $200K sale, USAA gets $2,100 off the top of the agents $6000 commission. USAA only rebates about $1,000 of that back to the Buyers for using them. WHAT A RACKET!!

The agents remaining $3900 is then split maybe 50/50 with their company. Then agents pay for their gas, advertising bills, insurance, MLS fees, etc. The result is an agent who is less motivated and able to make a "near" deal work.
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Old 04-10-2010, 10:50 AM
 
Location: Central FL
1,382 posts, read 3,157,684 times
Reputation: 1180
I'm starting to think I should get my own buyers agent for the low end transaction that we are looking for. Our home is under contract for sale using the USAA agent and that has gone fine. However, we are looking to purchase at the low end ($90-140k). I had no idea USAA was taking such a large cut. The way they explained it to me was "agents pay a fee to get USAA referrals".

Anyway, we are now interested in making a cash offer of $90k on a short sale property. That means a lot of work for peanut commission for our agent. I'm sure he wishes he could cut us loose. We are moving at the end of May, but were in the new area for a few days recently and he showed us 2 properties. One turned out to be the short sale opportunity, but I found it on my own a few weeks ago. I'm already wondering if we are going to get bottom of the barrel service from him given that (1) our price range is so low (2) we want a short sale (3) are geographic area is about 1/2 hour drive from his office area (4) he can make a lot more $ from his higher end clients and I'm sure he has enough business in that area

He doesn't seem like a newbie or desperate, so I'm not sure why he takes USAA referrals. He is our second buyer's agent with USAA. The first one took my info on the phone and then never sent me any listings or contacted me again. (probably because of our low price range?)
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Old 05-16-2010, 12:02 PM
 
Location: Home is where we park it.
3,091 posts, read 8,204,834 times
Reputation: 3143
Quote:
He doesn't seem like a newbie or desperate, so I'm not sure why he takes USAA referrals. He is our second buyer's agent with USAA. The first one took my info on the phone and then never sent me any listings or contacted me again. (probably because of our low price range?)
As part of USAA's Mover's Advantage, you are given a contact. Have you contacted your specialist to let him/her know of you unhappiness with your situation?

I was sitting in my realor's office upstairs. His broker started in on him about showing us houses before we could actually purchase (we were pre-qual'ed but still had to sell at the other end first). Our realtor took the tongue lashing he got and then came upstairs.

We headed out and on the way to the next house, *I* contacted USAA's Mover's Advantage to let them know what had happened. Told them that while our realtor had been extremely helpful and a pleasure to work with, I did not appreciate the BROKER'S attitude.

I got an email less than 24 hours from my realtor's personal account telling me his Broker apologized to him. And then asked if we had been in the building at the time. Our realtor responded, "what do you think?"

So contact your specialist cause I know you got the email from them. Let them know of what you are dealing with.

Liz
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