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Be the Best Co-Op Agent You Can Be

Relogirl2Doesn’t it just make you crazy when you have worked a bazillion hours with a buyer, and the house they have finally pegged as the house happens to be a relocation property, represented by a listing agent who has NO CLUE how to work through a relocation transaction?

 

After 12+ years and more than 70% of my transactions specifically in executive relocation, I have come across my share of co-ops representing (not really, but we’ll call it that for now) relocating clients. The most frustrating part being that they don’t treat it any differently than any other transaction, when relocation requires so much more care and attention.

 

In addition to the fact that we are in an ever-changing market, it is more critical than ever to treat relocation as a special transaction, just as you would a short sale or foreclosure. It takes patience, focus to detail, and expertise in order to coach the client (and sometimes the co-op agent) through the process.

 

I have seen relo deals fall apart due mostly to the fact that the listing agent pays no mind to paperwork, disclosures, and the extra steps involved with a relocation transaction. This makes it extremely difficult on the co-op agent, with the same end goal in mind: to get all parties to the closing table.

 

How can you be the best co-op you can be? Here are my Top Five Tips:

  1. No matter whom you are representing, take the time to educate them on how the process works. In the end, it is so worth it, to all parties. And, could earn you future business.
  2. If you are representing the seller, get ALL information, disclosures, addenda, etc. available to you BEFORE listing the property. This way buyers agents have everything they need to make an offer, even over the weekend.
  3. Be sure they fully understand that you will be negotiating verbally with the seller, and that the person who actually signs off on the contract only works from 9-5 and does not work weekends. {Patience is a virtue!}
  4. All parties need to know that the timelines in the contract may not necessarily be adhered to by the designated corporate contacts. However, that does NOT mean the deal is dead!
  5. Communicate OFTEN with the cooperating agent. Be up front. Engage fellow professionals. Not only is the way to ensure a smooth closing, but also gives you insight as to who is a real player in the relocation market.

Companies are still relocating top talent, and only the top Realtor°s will be working with these clients. Hone your relocation service delivery, and see the business roll in!

 

This guest post came from Jill Heineck. Jill is a Relocation Specialists and Managing Partner with Heineck & Company, Inc serving the Atlanta area. She also speaks and consults regularly on how real estate agents can work more effectively with Relocation Companies. You can find connect with Jill at www.RelocateWith.us.

 

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