Relocation

By
Real Estate Agent with Summit Washington

This is just an observation I made. My family and I got relocated to the Seattle area through a nationwide relocation company. We settled on the Eastside. My wife works for Microsoft. Cartus, the relo company, works with local Realtors. WE were absolute fortunate to have a great and very ethical Realtor. However over time I have met other relocated employees, who bought places in less desirable areas. Having asked them why they bought here, I was told that the Realtor basically pushed them to buy there. Now to understand this better, you got to understand, that the Realtors who are in the Cartus network have to give up about 1/3 of their commission to Cartus. That is in addition to whatever you pay to your broker. So it seems the incentive to go on extensive house hunts is not there, and the involved Realtors are interested in a quick close to have as little time outlay as necessary. 

My question is: Is this a healthy strategy? 

Absolutely not in my books. First, would you refer a realtor who "pressured" you into a property? NO!

Secondly, these relocated people can be relocated again within 1-5 years. If they call the Realtor, how is he or she explaining that the location is not very desirable for the sale to close fast and with profit, especially in a slower market. Third, you will not get to refer a Realtor to this client at his new place of living. Mildly, you have at least a triple loss, and possibly no referrals from this person. What a bummer!

Cartus feeds you with leads, so I would assume you put your best foot forward to give your best service to this person, even if you do not make 10k on this deal. It will come back to you later multi fold in other ways. Help these newly transferred clients to a great start and reap the fruit of your work ethics later.

Let me know if you had similar experiences.

 

 

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Rainer
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Wendy Montoya, REALTORĀ® Broker Associate, 254-315-4906
Towne Adams REALTORS - Waco, TX

I think the system and similar are very unhealthy. Not to mention, relo companies seem to be very selective on which Brokers they work with. It really leaves the relocating individual in a gamble when he/she has little choice as to which agent they are "allowed" to work with. And the other factor, the huge cut these companies take from the agent involved. You are right, makes for a lot of hard work for sometimes very small amounts of pay.

When I work with ANYONE (including those from relo companies), I put the client first as we all should. Sure, I want a good paycheck and expect to get paid for my work, but helping my clients the best way possible is my number 1 concern whether a portion of my pay is going to a relo company or not.

Apr 09, 2008 01:28 PM #1
Anonymous
Anonymous

Wendy,

 

you are an exception then. I am glad to see there are more forwardthinking realtors out there.

 

Apr 10, 2008 04:54 AM #2
Rainmaker
3,763,689
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Andreas -- I have heard similar stories over the year but I don't think there are plenty of great relocation agents out there.  If a re-lo buyer or seller is unhappy with their agent --- they need to discuss that with the  agent first and then with broker should a satisfactory resolution not be met.   

Aug 20, 2012 03:51 AM #3
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Rainer
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Andreas Wienke

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