Steven John, president and CEO of Berkshire Hathaway affiliate HomeServices Relocation, recently closed a client file where a corporate executive's move involved two property transactions totaling $2.5 million. This is an extreme example of an executive move, John takes pains to say -- it's above average -- but it shows how lucrative it can be for the real estate industry when a company decides it wants to move an employee from point A to point B. These employees tend to be high quality, he said. "Companies move their most valuable resources, and the result is they are higher-paid," said the corporate mobility expert. "The average selling price tends to be much higher than the market average, " he added. John supplies some interesting statistics from the U.S. Census Bureau: One in nine people changed residences between 2013 and 2014, and a new job or job transfer was the highest job-related reason for those moving at 9.7 percent. The advantage of serving relocating co...
- Helping relocate corporate executives can be a lucrative new stream of business for real estate firms.
- To offer a comprehensive service, real estate brokerages should work with a specialist relocation company; some also form departments or entire companies to assist with relocating clients.
- The referral business from mobile corporate clients is full of potential.