Change is everywhere. Families grow, downsize, divorce, and make career moves, among other impactful circumstances. One thing is constant though … everyone needs a place to live, and oftentimes, their destination is far from home.
Last year, approximately 1.5 million employer-assisted relocations took place, according to the Employee Relocation Council. In the same period, vacation home sales rose 57 percent, to 1.3 million properties, well above their most recent peak level in 2006, according to the National Association of Realtors®. All contribute to a country on the move.
We set out to learn a little more about how keen real estate agents are capitalizing on the surge in relocations and vacation properties by building a robust referral market. Kyle Else, a Realtor® with Keller Williams, Palo Alto, California, immediately came to mind. Kyle has spent the past decade building a solid referral practice in one of the country’s hottest relocation markets: the Silicon Valley.
“Directing the attention of a client’s trust in my brand to another agent is a high-risk task,” said Kyle. “I take it very seriously and expect the referring agent to do so as well. We each represent the other and want the relationship to grow. That means we both need to service a referral to the best of our abilities by closing the deal to their advantage.”
Kyle begins by making sure everyone is comfortable working together, followed by a formal referral agreement. Then he turns to Realtors Property Resource® (RPR).
“Whether I’m providing information to a new client or to a referring agent, I always rely on RPR’s tools and data to set the foundation for the transaction,” he said.
“RPR’s real estate platform is robust and the ability to make refinements towards a property’s value based on local market conditions leads to a winning negotiation and peace of mind when making a referral.”