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Real Estate Solutions: Relocating Firms Should Leverage a Local Agent for Worker Retention

What is the most powerful force in transferee retention? It might be the local real estate agent.



  [ 11/5/2004 ]  By: Debbie Romanski   Related Link...  Print This Article  Reprint/License This Article  

No one has more interaction with transferees and their families during the process or greater influence in creating positive perceptions.

Family is a major factor. According to Atlas World Group Inc.’s 37th Annual Corporate Relocation Survey, family issues were the reason 83 percent gave for not relocating.

That’s why companies with track records of successful relocations identify potential area real estate offices on the basis of pertinent relocation experience rather than by office size or agent reputation.

They use the office’s relocation director as the point person, not just to oversee the entire project but to create the best transferee/agent pairing based on a thorough assessment of common experiences, family issues and compatibility.

Chances for success are significantly higher when a relocation specialist having teen-agers is assigned to a transferee moving teens, or when a specialist with a medical industry background works with doctors, biotech and pharmaceutical transferees. The key is finding a real estate professional with a specialization in relocation rather than a residential real estate agent.

These specialists possess a greater understanding of the issues inherent in corporate relocation projects because of their diverse professional and personal backgrounds. Many have had management responsibility in the corporate world, where they developed and refined project management skills. Such experience enables them to communicate more effectively with corporate clients since they understand their priorities, language, time concerns and the overall impact of relocation.

These individuals also understand the needs of transferees. Many have relocated themselves, and that experience of moving to a new location and job has shaped the service — and empathy — they give.

During the interview process, quantify an agent’s specialization in relocation.

Discuss in depth the individual’s specific involvement in relocation projects, the number of relocations performed, how many transferees were involved, the time frame and the price ranges of homes identified.

Learn how the person coordinates activities and get a feel for his or her management style. A knowledge of the school systems, amenities, park districts and basic community information should be detailed and readily available.

Qualified agents should have experience in both listing and selling properties in the area, an indication of their professionalism, network and results-orientation.

They are likely to be active in professional associations and hold leadership roles in their company’s relocation arms.

Listen carefully — is the agent really answering your questions? The best candidates will be personable yet businesslike, enthusiastic and genuinely concerned for the welfare and happiness of transferees.

After the papers are signed, continue to evaluate the whole transaction. Are transferees comfortable with the individual? Is the agent responsive to individual needs? Does the agent provide progress reports?

Investing the time and effort to choose the most qualified local real estate relocation specialist will pay great dividends: a settled, focused team of loyal transferees concentrating their efforts on making the company successful.

Debbie Romanski is director of Corporate Relocation Services and broker/owner of Prudential Clark & Holm Real Estate LLC in Downers Grove, Ill. She can be reached at (630) 963-4400 or via e-mail at deb4relo@aol.com.

 



 
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