RISMedia's Real Estate Magazine

MAY 2016

Real Estate magazine is the industry's leading source for real estate news and information since 1980. Published monthly by RISMedia, Real Estate magazine offers timely and relevant real estate news to the industry's top brokers and agents.

Issue link: http://remag.rismedia.com/i/668992

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Page 56 of 118

52 May 2016 RISMedia's REAL ESTATE {Trending} T he Relocation Management industry has largely reinvented itself in recent years. Relocation Management Companies (RMCs) have been taking on much broader responsibilities for administering and analyzing their clients' relocation programs and redistributing business volume. Along the way, the accustomed roles of real estate brokerages and relo- cation directors have changed, too. Some brokers and their Relocation Directors (RDs) feel a bit disenfran- chised by the erosion of direct corpo- rate relationships where RMCs are taking an intermediary slot. The "glass half full" optimists, though, recognize that mobility is still a big and lucrative market seg- ment. They accept that corporate outsourcing to RMCs often subordi- nates brokers to secondary supplier status, but they also recognize new opportunities. By providing comple- mentary skills and knowledge for their RMC partners, they stand to gain referrals, local marketshare and additional revenue streams. The challenge for most RDs is in reengineering their frms' mobility product lines for RMC "coopetition" and greater customer diversity. We estimate that the domestic reloca- tion market is more than 90 percent outsourced to RMCs, so RMC part- nership is the best path to viabil- ity and growth. Are you thinking yet about changing your capabilities and offerings to tap into the RMCs more successfully? Here at RIS, we are considering developing a new mobility training series for RDs, their broker/owners and top-producing relocation-orient- ed agents. We recognize that some fne training resources are already available through the Relocation Di- rectors Council, the Worldwide Em- ployee Relocation Council and NAR, and we would encourage you to ex- plore and use these, as well. Our concept, though, based on years of feedback, is to supplement these by providing a topic-focused, pragmatic and interactive learning series on mobility strategies for real estate companies and their profes- sionals. We envision a series of Web-based, shirt-sleeves strategy workshops on high-gain mobility op- portunities, available on either a subscription enrollment or individual session basis. Our initial list of work- shop topic ideas includes: Building New Mobility Skills for RDs and Top Agents by John B. Sculley

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