Working as a relocation specialist for relocation clients can be a lucrative business for real estate business agents. According to a study by market research company IBISWorld, the real estate relocation industry in the United States was worth 14 billion dollars in 2021 and is steadily increasing.
In 2022, a survey by Upwork reported that 18.9 million Americans were planning to move because of remote work, and 28% were moving more than four hours away. Aside from people moving because of the increased availability of remote work, companies also continue to relocate their employees as needed.
These numbers represent millions of people looking for real estate agents and relocation experts to help them move to new areas as seamlessly as possible.
If you are a licensed REALTOR and you want to grow your business or move into a new niche, becoming a relocation expert opens up a brand new market for you.
What is a Relocation Expert?
A relocation expert manages all the details when a client moves and transitions to a new area. Real estate relocation is a specialized area that takes care of all the specifics involved in moving, from selling a client’s current home to closing on a property in their new area.
Aside from helping your clients purchase a new home, as a relocation specialist you can also assist them with finding reliable packers and movers, give them information about school applications, and lend a hand when inquiring about nearby country club memberships, and more.
Simply put, relocation experts help their clients move to a new area and help take care of everything from the beginning to the end of the relocation process.
Typically, a relocation specialist has expertise in a specific city or county. They either moved to that area themselves and are familiar with relocating to that particular city or town. It’s also possible that they’ve lived there for many years and are experts in the area’s real estate market. There are also large relocation companies that focus on corporate relocation
Whether you are an independent Realtor or part of a larger real estate company, getting into the real estate relocation business and getting relocation clients can help expand your client base, tap into new markets, and generate more income – everything real estate agents are interested in.
How to Become a Relocation Specialist?
If you’re already a real estate agent, you can begin working towards becoming a relocation expert.
Start with researching relocation companies and real estate agents. Which relocation companies are popular in the area you’re looking to work in? Are there local real estate agents known to be relocation experts in your city? Work with them to build your network and gain experience in the field.
You may also want to get certified or formally join a real estate relocation referral program. Read on to learn more about these options.
Relocation Professional Certification
One path towards becoming a relocation specialist is earning a certification. The Worldwide Employee Relocation Council or Worldwide ERC® offers a credential in Certified Relocation Professional, or CRP. This certification identifies professionals who are well-versed in managing employee relocation in the United States.
Eligible candidates must take and pass an exam to become a Certified Relocation Professional. The exam tests the applicant’s ability to design and administer mobility programs for companies, real estate expertise, and knowledge in regulating and auditing relocation expenses.
Once you pass the exam, you become a Certified Relocation Professional. Every three years, you must renew this certification.
Relocation Referral Program
Another way to get relocation clients in real estate is to officially join a relocation referral program. You can become a referral partner of a relocation service or company and be their go-to real estate agent in your area.
Whether you decide to take a certification, join a relocation referral program, or get relocation clients in real estate on your own, the most important part is to position yourself as a relocation expert to generate more business. How?
Continuously build your local market knowledge base, and have a database of information for everything in your area. Think of a list of trusted doctors, dentists, vets, event planners, and more. Become the local go-to real estate specialist of your city and surrounding areas.
Remember that relocation experts can work directly with buyers or with other real estate agents who have clients relocating to your area. You can partner with them and become their trusted relocation real estate agent in your specific city or county.
Whichever path you choose to work in relocation, begin advertising your relocation skills and use engaging content showcasing your expertise. This will help you stand out from other relocation real estate agents in your area.