At some point in your career, you’ll probably be requested by a corporate transferee to assist them either in a home purchase or home sale transaction. You might be wondering what that means to you. Corporate transferees are customers who have been directed by their employers to make a job transfer. For the most part, they wait until their human resources director tells them what steps they need to make and when, but sometimes the transferees jump the gun and makes decisions on their own that can affect how their employer helps them financially. What does this mean to you and to the customer?
You as the associate and service provider always want to protect the transferee’s benefits, so here are some rules and strategies to make sure you don’t make mistakes that jeopardize their benefits and your commission.
Always ask your buyers and sellers if their employers are helping them with their move. The key phrase here is: “Are you getting a corporate benefits package?” This will let you know how to proceed. If they say yes, they’re getting a relocation package, let them know that you can probably continue as their Realtor® and that all they need to do is request you as their agent choice.
Next you should call your relocation department or broker to have them contact the relocation management company (RMC). The customers should know who their RMC is to ask for the business on your behalf. The broker or relocation department will advise them that they will help you follow the rules the RMC has in place and will pay the referral fee due to the RMC once the transaction has closed. The broker is obligated to sign a referral agreement with the RMC. Many agents don’t know that these referral fees help fund the move the transferees are making.
You’ll have to work through your relocation department or broker as is required by the transferee’s RMC. The important thing to keep in mind is that as a requested agent you will most likely be able to continue to work with the customer. Remember too that if you follow the rules and provide good customer service, you’ll probably be referred to another customer that is employed by the same company. That’s the goal: Referred business means more commission dollars.