Worldwide ERC® continually provides best practice suggestions for real estate relocation professionals, like the ones below.
- Establish a clearly defined mobility policy, and ensure all sales associates have read and understood its terms.
- Employ the practice of registering all buyers with whom agents work, so the relocation department can immediately identify any who may be part of a referral fee program agreement, and communicate expectations to all parties from the beginning.
- Place explanatory brochures and copies of the required contracts in the house whenever a relocation property is shown, so all agents and prospective buyers know and understand that the sale will require a unique contract/set of circumstances.
- Play a proactive role in asking or reminding service partners to include the appropriate relocation department employees on all correspondence and copies of transactions, ensuring that they are "kept in the loop" and are able to identify any problems early on.
- Include a notation in all MLS descriptions where a corporate/managed move contract is required on the property.
- Explore the possibility of using a faxed, signed letter of intent to ease a concerned buyer's peace of mind in a tight market where contact review and finalization may take some time.
- Explore the use of referral fee disclosure language in documentation at the destination side.
- Consider the inclusion of a formal provision in listing contracts, buy/sell agreements and/or buyer broker agreements that prompts the question of whether or not the buyer/seller is receiving any benefits from an employer or relocation management company. (For more helpful information on knowing what questions to ask, see the Worldwide ERC®’s real estate version of the "Stop. Verify. React." communication on referral fees.)