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!