Relocation 101 RDC Mentor Program May 18, 2005 San Diego, CA.

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Presentation transcript:

Relocation 101 RDC Mentor Program May 18, 2005 San Diego, CA

Relocation Management Companies  Historical Overview  Roles & Responsibilities  Industry Trends

Historical Overview Real Estate Assistance  “In-house” Programs  Third Party Programs  Full Outsourcing

Historical Overview Types of Programs:  Direct Reimbursement  Marketing Assistance Only  Buyer Value Option  Guaranteed Purchase Offer  Closing Services Only

Historical Overview Home Purchase Assistance  Assigned Sale (AS)  Amended Value Offer (AV)  Buyer Value Option (BVO)  Guaranteed Purchase Offer (GPO)

Roles and Responsibilities Realtor  Relocation Department  Destination Assistance Candidate Services Orientation & Home Finding  Home Sale Assistance - BMA’s & List Price Establishment - Contract Negotiation - Inventory Management

Roles and Responsibilities Relocation Management Company  Policy Administration  Marketing Assistance  Home Sale  Home Finding  Area Orientation  Candidate Services  Rental Assistance  Settling In Services  Household Goods  Temporary Living  Travel  Mortgage Assistance  Expense Management  International  Tax Gross-up

Service Partnerships  Reputation  Longevity  Relocation Experience  Market Share  Commitment to Service Excellence

Broker Evaluation  Standards of Performance  Proven Track Record  Financial Stability  Technology Capabilities  Customer Service Focus  Training  Innovation  Shared Commitment with Third Party

Performance Evaluation  Delivery of Service25%  Quality (Accuracy)25%  Satisfaction25%  Financial Responsibility25%

Industry Trends  Reduced Service Fees  Referral Fee Capture is KEY  Cost Containment  Outsourcing  International  Impact of Technology

Top 10 Things You Don’t Want to Hear From Your RDC Member 10. Does the corporation have insurance? 9. I forgot to winterize the house. 8. I forgot to have the buyer sign the relocation addendum. 7. Oops! – Sorry about the roach infestation. 6. We accidentally locked the transferee’s child in the wine cellar. 5. The fire wasn’t too bad – just some smoke damage. 4. We pulled the wrong comps when we set our BMA value. 3. Can we use the inventory house’s pool for our summer party? 2. The transferee didn’t disclose the black mold. 1. I don’t have enough time to take this order.