What Makes You Stand Out from the Crowded Field of Service Providers?
In today’s world, pretty much every real estate brokerage that has committed to service relocation business has the same stuff. Website, MLS, technology, trained agents, full service delivery, appropriate risk management and legal, marketing, decent market share, good ethics, strong leadership, professional and experienced staff. Check on all counts. So how does a Relocation Director differentiate themselves in a market crowded with other firms that basically appear to check all of the expected boxes?
They do it through relationships. It is critical to be visible and build trust with sources of business over time. The mobility industry hums along because the corporations trust their providers. Providers have proven themselves to be responsible and trustworthy and present. If they aren’t, then they are moved out of the provider pool. When things get tough, they are there to solve whatever problem has arisen. Suppliers have proven their worth during Covid by stepping up and ensuring business continuation. And they continue to deliver in markets plagued by crushingly low housing inventory, Covid and travel restrictions and fluctuating benefit’s policies.
Some relationships may initially be based on preferred fee structures, but if the trust and service isn’t there, no amount of cost savings is worth it. That is why brokers need to ensure they have a person at the helm of their relocation department that is focused on growth and business development, not just managing referrals. Sitting back and just reacting as business comes in is a mistake.
There is only so much business to go around. Know that there is always someone looking to take your spot at the top of the food chain. And if they tell a better story than you and are more attentive, they may just catch your client’s eye.
How can a broker set themselves apart to ensure they retain what they have and capture more relocation opportunities?
By delivering a well-rounded cache of relocation related services
Staying on top of trends and technology
Asking how they can help make the process easier and better for everyone
Evolving to meet the needs of the clients and the transferees
Making sure to make personal connections through regular conference attendance and site visits
Incessantly networking
Participating in educational opportunities to share and to learn
Stepping up to contribute on industry committees
Clearly presenting the company features and how those features benefit the clients and transferees
Ensuring their own staff and agents are up to date on relocation policies and procedures
Are laser focused on customer service
Offering to educate the relocation company and corporate representatives on what’s happening in their local market and the real estate industry
Having consistent and relevant marketing to ensure their name stays top of mind
Stepping up when it matters most
Informing clients when changes happen in real estate that might affect the transferees
Focusing on what is unique about them and their company and why it matters
By knowing their competitor’s weaknesses. Not to call them out, but to help fashion their own story of strength
Sustaining the quality of the service delivery, every time
Just because we have sources of business that have steadily used our services, we can never assume that they will not be distracted by another provider that catches their eye. We must make sure they are up to date on how our services benefit them and what’s going on in our market. Identify the features and benefits that set us apart and constantly remind them of why they chose us in the first place by solidifying our position as their #1 choice of provider.
“Irrelevance only creeps up on you if you let it.”~ Stewart Stafford, author
