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The Bridge

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The Bridge

Do you want to amp up your company generated business game? The Bridge is where the real estate, relocation and mobility industry can discover how taking a new path doesn’t have to be scary. Teresa R. Howe is an expert in her field with years of successful program and services development and management. She has a passion for helping companies be the best they can be. Do you want more revenue, more customers and better experience management? Get tips on how to compete more effectively in a world of constant change and disruption. You might also come across some random thoughts that just pop into her head.

What a Relocation Department is Not

Broker owners, who do not have a Relocation Division, ask me all the time, “Why should I have a Relocation Division?”. It is a simple and complex answer at the same time. A Relocation Division is no longer reserved for just managing corporate relocation or broker-to-broker referrals. They can be so much more if the right person is at the helm with a supportive broker and someone that knows how to generate or identify a variety of services and programs. A Relocation Department is not just for Relocation anymore.

Here are some of the business lines they can manage:

  • Direct Corporate Business

  • Broker-to-Broker Referrals

  • Internet Leads

  • International Settling In Services

  • Destination Services

  • First Time Homebuyer Programs

  • Affinity Cash Back Rewards Programs

  • Military Rebate Programs

  • License Holding Companies

  • Senior Services

  • Rental Assistance

  • Candidate Orientation Tours

  • Mortgage Lead Programs

  • Lump-Sum Programs

  • Concierge Services

  • Moving Services

  • Second Home Programs

  • REO/Short Sale Services

  • Facilitate iBuyer Inquiries

  • Servicing Other Broker’s Relocation/Internet Business

  • And of course, Corporate Relocation opportunities

It is really about servicing any ‘account-based’ referral or service opportunity. Relocation Department’s are made up of flexible and customer service-oriented people. Once you identify the nuances needed to service the various types of accounts, develop that service or engage with an entity to provide the business, then it is a matter of training the staff or hiring for that specific skill set.

So we need to stop calling them Relocation Departments. They are Company Generated Business Departments or Network Services or Client Development Groups or Business Development Divisions or Client Services or whatever you want to call them as long as it implies a broad service capability. Brokers are wasting the talent and potential of the people in these departments by limiting them to just referral or corporate relocation opportunities.

It does take upfront resources to create a prolific business development group, but the rewards will be felt many times over once it is established. Sometimes Relocation Directors shy away from expanding into new areas of business because it takes them out of their comfort zone. Every now and then there will be someone in a company stuck in their comfort zone, then maybe they need a bit of a shove to explore the possibilities of personal and company growth.

Here’s why every real estate brokerage should have a strategic business development plan for their department:

  • Make More Profit

  • Create a Competitive Advantage

  • Generate Your Own Business Lines Instead of Depending Solely on the Agents to Bring the Business In

  • Expand Your Delivery Options

  • Drive Increased Sales

  • Assist with Recruiting and Retention of Agents

  • Generate New Customers

  • Increase Overall Client and Agent Satisfaction

  • Increase Revenue

  • Ensure a Heightened Level of Customer Service

  • Retain Past Customers for Repeat Opportunities

  • Keep Agents Engaged

  • Offer Valuable Resources to Prospective Customers

  • Because It’s Smart Business to Create an Entity that is Primarily Focused on New Lines of Business

If you still aren’t sold, I encourage you to speak with brokers of highly successful Business Development Divisions who offer a broad service delivery. There is a reason they don’t often brag publicly about it. They don’t want the competition to find out how valuable these departments can be as a contributor to the overall success of their company. If you need assistance creating a department or expanding your service delivery, I am here to help. 

“Only those who will risk going too far can possibly find out how far one can go. “ T.S. Eliot,  poet, essayist, publisher, playwright, literary critic, and editor.

Teresa Howe