Many of Global Mobility Solutions’ clients want to help transferees know what to expect when a Realtor® asks relocating employees questions about their real estate needs. Many transferees are relocating to a new location and will then search for a new home to purchase. Transferees often move to a location they know very little about. Most relocating employees and their families have a number of questions about the new location as well as all aspects of the home purchasing process.
Many companies may not understand why it is in their best interest to encourage transferees to buy instead of rent. They also may not know how to leverage programs such as Buyer Value Option to save money and help their relocating employees focus on their new position. Relocation Management Companies (RMCs) can provide a number of helpful resources for transferees and their families. These resources may include career support for spouses and partners. 65% of Corporate Relocation Survey respondents indicate that spouse and partner employment frequently or nearly always directly affects an employee’s relocation. By providing helpful resources for spouses and partners, RMCs help promote successful relocations.
GMS spoke with Erik R. Brown of Douglas Elliman Real Estate, Realtor®, TV host, speaker, and author of “One in a Million: Everything You Need to Know to Find the Best Realtor®.” Erik agreed to share the top 5 questions a Realtor® asks relocating employees when they meet to discuss their real estate needs.
Top 5 Questions a Realtor® Asks Relocating Employees
Question #1: What is Most Important in Your Home Decision?
Erik notes that real estate buyers often have various goals with respect to their home decision. Many buyers want to invest well, as real estate is often the largest investment someone will make in their lifetime. Other buyers may be thinking of their family needs, both now and into the future. It is important for growing families to have a home large enough to fit their needs. Some buyers want to purchase a home that is near to things they like, such as neighborhood parks, commuter rail lines, or water features such as rivers, lakes, and oceanfront.
This question helps a Realtor® understand the primary objectives of the buyer. Answers to Question #1 provide a Realtor® with valuable information as to what the buyer’s primary objectives are for their new home. As a result, a Realtor® can more easily identify specific homes that meet the buyer’s goals, needs, and objectives. When a Realtor® asks relocating employees what is most important in their home decision, the answers provide a framework to help guide the home buying process.
Question #2: What are the Logistics of Your Home Purchase?
Once the Realtor® asks relocating employees the primary objectives for their home decision, it is time to hone in on the basics. Erik states that a Realtor® needs to understand the home buyer’s basic wants and needs with respect to the dwelling. Answers to this question helps a Realtor® determine the homes that qualify according to the buyer’s specifications. As a result, the Realtor® will have a good understanding of what the home buyer would like to see.
Major Logistics of Home Purchase Include:
- Price Range
- Location (Los Angeles)
- Number of Bedrooms
- Number of Bathrooms
- Square Footage
- Style of Home (Ranch, Split-Level, Colonial, Mid-Century Modern)
- Desired Amenities (Garden, Pool, Fireplace, Garage, Storage Room, Patio)
Additional Logistics of Home Purchase That Are Helpful to Know if Important to Buyer:
- City Preference (Pasadena, Malibu, West Hollywood, Los Angeles proper)
- Neighborhood Preference (Quiet Suburb, Bustling Downtown, Seaside Enclave)
- Distance to Work (Walking Distance, Train Ride, 20 Minute Drive)
Question #3: What do You Like to do Inside the Home and Outside the Home?
When a Realtor® asks relocating employees what they like to do inside the home and outside the home, answers provide clarity for types of neighborhoods and areas. Erik strongly believes that understanding a home buyer’s lifestyle is critically important to help a Realtor® locate areas and neighborhoods that will provide the best fit for the buyer. A few examples:
- Home buyer likes to hike; Realtor® helps find a home near trails, parks, and mountains.
- Nightlife is important to the home buyer, since they play guitar in a band; Realtor® helps find a home near music venues and entertainment spots.
- Spouse is an artist and maintains an in-home studio; Realtor® helps find a home that offers a lot of natural light and room for the spouse to set up their art studio.
Question #4: What is Your Timing?
Buying a home is a major decision for most home buyers. Erik knows that relocating employees often have a specific timeline to meet their employer’s start date expectation. As a result, working within and understanding these timelines helps a Realtor® provide relocating employees with the best service.
Question #5: What is Most Important in Your Home Buying Experience?
A Realtor® asks relocating employees what is most important in their home buying experience so they can tailor it to meet the home buyer’s expectations. Erik is keenly aware that relocating employees may be experiencing times of exhilaration as well as times of stress. With so many moving parts in the relocation process, effective planning and superior organization are key Realtor® strengths. Answers to this question often show that home buyers want a great home as well as the following:
- Open Communication
- Honest Service
- Ethical Insights
Erik notes that home buyers are looking for a true professional to take care of them. Thankfully, this is where a Realtor® comes in. They have the knowledge, experience, and credentials that prove their expertise in the home buying process and the real estate market.
What should employers do about the Questions a Realtor® asks relocating employees?
Employers with transferees who are moving to a new location should share the questions a Realtor® asks relocating employees. This will help transferees and their family members prepare to respond with information. As a result, this information will help the Realtor® assist them with their new home purchase.
Employers should also provide as much information about the new location as possible. They should work with a qualified and experienced Relocation Management Company (RMC) that can provide a wealth of valuable resources to assist relocating employees and their family members. Destination spotlights that highlight many aspects of a location are helpful resources to share with transferees during their pre-decision process. Video destination spotlights are a great resource to visually show employees and their family members their new location.
Global Mobility Solutions’ team of corporate relocation experts has helped thousands of our clients understand how to communicate the questions a Realtor® asks relocating employees. Our team can help your company share helpful information that will give transferees peace of mind as they go through their relocation process.
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Learn best practices from Global Mobility Solutions, the relocation industry and technology experts who are dedicated to keeping you informed and connected. Contact our experts online to discuss your company’s approach to sharing the questions a Realtor® asks relocating employees, or give us a call at 800.617.1904 or 480.922.0700 today.