Becoming a relo consultant or RE agent?

[khyati5]

So finally you decide or not?? what you want???

[mom2gurls]

Originally Posted by Brandon Hoffman

Also, not sure if you're aware but most relo companies charge 25-40% relocation fee off the top of the commission so you also make less money than a traditional transaction. Just worth noting if you're banking on the commission for a living.

Yes, I did notice that....thanks..another thing to consider.

[mom2gurls]

Originally Posted by QuilterChick

That's right Dave. Companies are not relocating employees to the extent they did in years past. Company paid relos are expensive and cutbacks have been made except at the highest levels of executives. I worked especially with relos for several years and truly enjoyed that aspect of the business. Many times they would send the employee out for two, maybe three, interviews at the new location ( same company, different state). They assign him/her at least a few weeks ahead of time to a Realtor for an initial introduction to the area for may one day. If he/she accepts the position, then the heavy lifting begins; and the person or couple has a limited amount of time to find housing. The Realtor concentrates on working with that buyer from start to finish. And you don't get repeat relo business unless that executive and the family is very happy both with you, and what you have available to present. The company also is interested in knowing from you how the person or couple like the area, and you have to keep the HR Dept. or Relo Dept. posted as to progress. I've had it happen where the employee cannot find suitable housing (if they are coming from a low cost of living area to a high cost of living area), have had some wives throw a hissy fit and couples arguing openly in the car.

The buyers (normally) just don't have the time for a preview of the area without their Realtor by the time they both come house hunting. They also have been provided with information from other executives of the company who may have already given them a tour of "where to live", they attend dinners, cocktail hours etc. while they are on the interview path. Sometimes they are allowed a week to "look", go home and think about it, and come back a few weeks later for a fast track few days to actually get into a contract.

Buyers who don't have company assistance are totally on their own most of the time unless they are again, they might be in executive positions and get "slight" incentives from the new company, but often are not. Those are "potential" buyers, they don't have the job yet, they may be interviewing in several states as well. In other words, they only want "the tour" at your expense.

With good advice and some planning, you could find a niche for your services. But most important is the license; companies are not going to put their employees in your hands without the legalities being covered. You can drive by properties all day long, but you cannot give real estate advice.

I can see your idea maybe working with retirees who want to change locations and have plenty of time; but I don't see that as being lucrative either. People would rather "use" a real estate agent's time and expertise about an area, and then you get a "gee, thanks for your time", "we'll call if we decide on this area".

Interesting idea you have though, let us know what you decide.

I will be studying for for my RE license.

I dont plan on working with retirees, my market is specifically expats, international clients and domestic corporate moves. thanks so much for the advice!

[QuilterChick]

Originally Posted by mom2gurls

I will be studying for for my RE license.

I dont plan on working with retirees, my market is specifically expats, international clients and domestic corporate moves. thanks so much for the advice!

Have you done a market study in your state/city/town as to the need for such a service for your chosen demographic, or are you going to cover a multi-state area? Sounds interesting. Best of luck, you'll never know unless you try.

[Koale]

Originally Posted by mom2gurls

All very good points, that I will consider. I wasnt sure which avenue would be better, a traditional agent or working with a relo company, or venturing out on my own. I think based on what I read and have spoken to individuals, is that what I am looking to do is to help people transition their move.

Thank you for letting me know that agents would prefer to do it themselves... !

I think what I bring to the table is an international experience, since I have moved quite a bit, I have lived as an expat abroad for years and I know firsthand what it feels like to be in a foreign country. I have my own " I really wished that my relo company did this list". I have interviewed other expats and foreigners and they have concurred with me on some things, which led me to believe the big companies are pretty vanilla at what they do.

I might end up working for one to get my feet wet, but I would rather sell my services to newly landed transplants as I can relate to them 100%. I am currently abroad now and I can start building my book of connections with companies who will send people back to the states.

I was hoping to hook up and build a repoire with only a handful or realtors in the big market areas and solicit there feedback and see if they would consider working with smaller firm.

I just wanted to know if I should throw the real estate piece in the mix and get licensed for legal reasons.

Thanks so much...you guys have been quite helpful. Lots to think of and consider.

I would prefer to find a 'solo' individual who could give me the personal attention and time to find what I am looking for rather than a large company that could truly care less about me and my families needs, regardless of what their mega advertisements would tell me...
Koale

[Captain Bill]

Originally Posted by Koale

I would prefer to find a 'solo' individual who could give me the personal attention and time to find what I am looking for rather than a large company that could truly care less about me and my families needs, regardless of what their mega advertisements would tell me...
Koale

Consider that a solo individual may not want to train someone, and may not have time to give personal attention.

There are coaches available that will coach you no matter who you're working with. The coaches do not have to be in the same company or franchise. Google "real estate coaches". Do some research on coaches; ask a lot of questions on how they operate with you. Take your time and find one that is a good match for you. A good coach will make you work hard and hold you accountable for your time. That is what you want.