IMO, Some Relocation Companies Are Unreasonable

By
Real Estate Broker Owner with Carousel Realty of Dyer County Tn 248435000

Have you done any referrals for relocation companies lately? I do some relocation work but the amount of the return on investment is usually not very good.

Today I had a relocation company call me(name withheld) about listing the house of some friends who I sold a home to a few years ago. They had given me the heads up that they were transferring out and a relocation company would be involved.

I was prepared to do the free BMA(broker marketing analysis) and then begin marketing their home. Before I accepted the listing i asked 2 questions:

1. If I am doing a good job marketing the home and the buyout happens after 90 days will I be retained as the agent? Sorry do not know as that is another dept. One of my top agents just worked for this same relocation company and the listing got pulled from her after 90 days. She had completed all the forms on a timely manner and had shown the house several times. If I am going to spend my hard earned money on advertising to only have the listing given to someone else then thanks but no thanks!

2. How much is the relocation fee? Without batting an eye she stated 40%. I quickly told her that I would not be able to assist them with this relocation but if that fee dropped call me back.

If she had said we will evaluate your performance and possible retain you as the agent and only asked for 30-35% referral fee than I probable would have accepted the listing. Sometimes you just have to draw a line in the sand!

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Topic:
Real Estate Best Practices
Groups:
Silent Majority
More Referrals: Strategies & Tips on Getting More Referrals
The Lounge at Active Rain
Realtors®
Agents who want REFERRALS!
Tags:
relocations

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Anonymous
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Rainmaker
1,655,927
William Feela
Realtor, Whispering Pines Realty 651-674-5999 No.
WHISPERING PINES REALTY

40%.  Absolutely ridiculous!!!!

20-25% is all I would pay and then only if I was not as busy as I wanted to be.

September 14, 2012 02:50 PM
Rainmaker
238,200
Mike & Eve Alexander
Exclusively Representing ONLY Orlando Home Buyers
Buyers Broker of Florida

No, not some...almost all.

Since we run a "Buyer Agency" office, we occasionally get relocation clients that are unhappy with their "relocation-company-selected-agent"...almost always we get a call after the buyer is under contract to purchase from their case worker demanding  a "referral"....WHAT REFERRAL?

I always refuse and then they try to put on the guilt trip claiming that the buyer will not get all their benefits if we do not pay....

Don't buy into the BS!  The EMPLOYER is paying the benefit, not the 3rd party relocation company.

We never pay after the fact...and the buyer always gets their full benefits package.

Eve in Orlando

September 14, 2012 02:55 PM
Rainmaker
770,483
Paula McDonald
RE/MAX The Woodlands, TX 936-203-0279
Chevaux Group, PLLC
Yep I agree. They also have ridiculously lengthy processes and addenda.
September 14, 2012 08:31 PM
Rainmaker
507,389
Than Maynard
Broker - Licensed to List & Sell - 405-990-8862
Coldwell Banker Heart of Oklahoma

I had one ask for 45%. I actually laughed at her. They dropped the fee to 25% to get us to list it.

The corporation bought the seller out this week and we got to retain the listing. This companies addendum is 48 pages LONG.

September 15, 2012 05:35 AM
Rainmaker
517,333
Richard & Beth Witt
Broker/Owner RE/MAX Wittney Estates Long Island NY
RE/MAX Wittney Estates 516-795-6900 www.longislandrealestatesearch.com

Hi Mike... One of the things I enjoy about Remax is there relocation system... very fast very easy and always tracked on line with little effort on the agent... Have a great day...

September 17, 2012 08:35 AM
Anonymous
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Mike Frazier

Dyersburg Tn Real Estate
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The purpose of this blog will be to discuss the market conditions in the Dyersburg Tennessee area of west Tennessee. There will lots of useful information for buyers, sellers, bankers and other users of Dyersburg real estate information. I will also often quote other professionals. Follow MikeFrazier-Dyersburg homes on Twitter