David Rathgeber's

Corporate Transferees

One word of caution for the corporate transferee: If your employer or their designated relocation firm insists on selecting your real estate agent, find out why. The agents on their "approved" lists are asked to forego up to 40% of their commission in order to be "specially selected" for the job. An agent obtained through such a process is not selected with the transferee's best interests as the sole criteria. The most experienced and successful agents are not taking a 40% pay cut. A concomitant (and often illegal) problem is that of non-licensed and inexperienced relocation company employees giving real estate advice. Some of these "advisors" (who often are located far from here) don't even realize that real estate laws as well as customs vary by location. Further, the relocation firms demand the hefty referral fees from agents, even when there is no referral.

Many transferees never know what happened, why it happened, or who received what compensation. But often they are told that their benefits will be cut if they and/or their preferred agents do not "play ball." These practices are the subject of legislation and legal battles in many States. The choice of a home is likely the biggest financial decision most of us will ever make. Should someone else be allowed to choose your advocate, advisor, and negotiator? Further, should you have to wonder whether you are getting the full attention and efforts of an agent whose compensation has been severely truncated?

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Your Friend in Real Estate, LLC
Arlington, Virginia, USA


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