USAA Movers Advantage Program (agents, percentage, loan, fee) - Page 3 - City-Data Forum

justmeintx · 06-20-2010, 12:16 AM

yes, you lose at least 40% of your commission

Brandon Hoffman · 01-08-2011, 12:43 PM

USAA is very selective about the agents they associate with. They are required to have a minimum amount of experience and transactions before they can join. Then after that, the agents must maintain an excellent rating from their clients based on the surveys USAA sends out after closing.

skyshark75 · 01-08-2011, 03:58 PM

I am considering USAA but after reading this tread I can sort of understand why listing agents would not want to loose part of their commission to them (even though 60% is better than the 0% they get by not working with them). But at the same time how is this different from using ANY other buyers agent. Dont they also split the commission with the listing agent? Im definitely going to use a buyers agent (why would anyone not use one?) But as I understand it they also split the commission so how is USAA different?

Brandon Hoffman · 01-08-2011, 05:13 PM

Quote:

Originally Posted by skyshark75

I am considering USAA but after reading this tread I can sort of understand why listing agents would not want to loose part of their commission to them (even though 60% is better than the 0% they get by not working with them). But at the same time how is this different from using ANY other buyers agent. Dont they also split the commission with the listing agent? Im definitely going to use a buyers agent (why would anyone not use one?) But as I understand it they also split the commission so how is USAA different?

Think of it as a discount on a single deal that is made up for with multiple deals for the agent, so they come out ahead in volume. Clients tend to get the most qualified agents through movers advantage. If you get one that you don't click with, USAA will have the client reassigned to another agent. The client gets a cash back rebate. It's really a win-win for the client. Agents want to be a part of the relocation team.

I'd recommend you go with it.

olecapt · 01-08-2011, 07:47 PM

Quote:

Originally Posted by Brandon Hoffman

Think of it as a discount on a single deal that is made up for with multiple deals for the agent, so they come out ahead in volume. Clients tend to get the most qualified agents through movers advantage. If you get one that you don't click with, USAA will have the client reassigned to another agent. The client gets a cash back rebate. It's really a win-win for the client. Agents want to be a part of the relocation team.

I'd recommend you go with it.

Ah comeon Brandon...rip off pure and simple. They give you your choice of bad agents.

Lots of really good agents won't touch the deal. I certainly won't and I do a good bit of military into Nellis.

I suppose if you live by a military base and that is all there is...you gotta..

But no...it is not a good deal for anyone other than USAA.

cheryjohns · 01-08-2011, 11:53 PM

Quote:

Originally Posted by skyshark75

I am considering USAA but after reading this tread I can sort of understand why listing agents would not want to loose part of their commission to them (even though 60% is better than the 0% they get by not working with them). But at the same time how is this different from using ANY other buyers agent. Dont they also split the commission with the listing agent? Im definitely going to use a buyers agent (why would anyone not use one?) But as I understand it they also split the commission so how is USAA different?

It's not a either/or on the broker and USAA - its both. The agent may come out with very little money left. USAA gets their 40% off the top - THEN the rest is split with the broker. The one doing all the work gets less than USAA.
That 40% does not wind up in the buyer's pocket either, the majority of that stays with USAA.
In Houston, the buyers get the bottom of the barrel, as to agents for representation.

faabala · 01-09-2011, 06:15 AM

I agree with OlCapt, only USAA makes out on the deal. Some folks still think USAA is looking out for the serviceman but they are looking out for themselves. Once I explain how the program works to my clients they understand pretty quick.

In my area we have always gotten better deals for our clients that those with a USAA picked agent. We have talked to many folks who did not know any better (mostly first timers) who went with USAA and regret it after the fact. They paid more in interest rates, fees, and got steered to an in-house listing, did not get closing costs paid, or as much seller concessions as we seem to get. The agent don't seem motivated to get them the best deal just the one that nets them the highest cut of commission in the shortest time.

That as been my experiance in my market your mileage may vary.

southernlady5464 · 01-09-2011, 09:01 AM

Quote:

Originally Posted by faabala

I agree with OlCapt, only USAA makes out on the deal. Some folks still think USAA is looking out for the serviceman but they are looking out for themselves. Once I explain how the program works to my clients they understand pretty quick.

In my area we have always gotten better deals for our clients that those with a USAA picked agent. We have talked to many folks who did not know any better (mostly first timers) who went with USAA and regret it after the fact. They paid more in interest rates, fees, and got steered to an in-house listing, did not get closing costs paid, or as much seller concessions as we seem to get. The agent don't seem motivated to get them the best deal just the one that nets them the highest cut of commission in the shortest time.

That as been my experiance in my market your mileage may vary.

However, if you are moving into a market you know nothing about, how do you know what agent to pick. Yes, I know you can go with a known agency but that still doesn't give you the assurance you are getting a GOOD agent.

Using USAA or any company like that allows you, the buyer, to know that at least you are getting an agent that has experience and is not brand new.

JMO, Liz

skyshark75 · 01-09-2011, 03:20 PM

Not meaning to completely hijack this thread but I'm not sure my question was answered in any of those replies. I realize the rebate thing is just a carrot dangled by USAA (as the buyer its essentially my own money im getting back) so I really dont care at all about the rebate. Although I could see an active duty guy on a tight income using a VA loan with no money down and then getting a rebate could be a significant incentive (that's not my case though). What Im asking is how is the USAA 40% cut different from the cut any other buyers agent would get. Or is there any difference? Are sellers agents unwilling to show certain properties to anyone with any sort of agent that will take a cut of their commission? Or is their a specific reason USAA is worse than any other buyers agent.

I know normally one should use a friend or family recommended agent. Unfortunately I know about a dozen people who have recently bought / sold their house over the last few years and all have stated very adamantly that they DO NOT recommend the agent they used. Absolutely noone had a good experience with their agent that I know of. This is in Loudoun county NoVa. The problem according to them is that unless you want to buy one of the countless vacant $600k+ McMansions or the slightly more affordable townhouses built in the stripmall parkinglots you will get nothing but runaround until you just give in and finance yourself into bankruptcy to buy the crappy parkinglot townhouse or the cookie cutter 6000sqft McMansion on a 6200sqft lot. One guys hair went mostly grey and another guy litterally went completely bald in the 9 months it took to close on his house. When I asked if he recommended his agent he just shuddered and said "Never mention Real Estate around me again". So as there is a complete absence of a decent recommended buyers agent would you then consider USAA a legitimate choice or would I be better off working with a sellers agent who is working in the interest of the seller getting the best deal at my expense?

Also I am not looking for input from someone who works for USAA as obviously you would be biased toward the company. I am looking for input from sellers agents mostly as to why I should not use USAA vs a buyers agent vs directly from the sellers agent.

Brandon Hoffman · 01-09-2011, 05:49 PM

Skyshark, you would be better off working with a USAA agent. Like I said, they are picked and retained based on performance. It isn't your own money you're getting back. It really is a cash rebate that comes from the purchase that you wouldn't get back otherwise if you had the same purchase w/o the Movers Advantage program. The Movers Adv. program is legit and if you aren't satisfied they will reassign you.

The sellers agent represents the seller. The USAA agent represents you. If you have questions about whether you should have your own representation there are million and one threads about it so just search the topic on the board.

Faabala is way off base with his assessment. He apparently isn't familiar with how it works because agents don't get the sales bonuses or higher splits for in house sales with most companies on referrals. He also implies that the agents aren't qualified or helpful which is again very off. Like I said, agents are selected and retained based on performance and customer satisfaction surveys. I don't know how he can make some of those claims about steering and negotiations, or how they get better deals. Maybe he can back it up with some data? I really think he's trying to undercut USAA because they are his competition.