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Thinking Outside the "Relo" Box

moving boxes family 1

Want to try a new niche for drumming up business? Consider specializing in relocations. Not only can you capture new clients who are moving into your area, you can generate passive income by referring leads moving out of your area to other agents.

Jumping into the relocation game can be easier than you think—provided you have a plan of action. Local small to mid-size organizations are the key here, says ReferralExchange, a company with years of experience in helping Realtors refer their clients to trusted out-of-town agents.

To find out if your market is a good place to grow a relocation business, ask yourself if your area has any of the following:

  • Military base
  • Boarding school
  • Regional retailers
  • Local pro or semi-pro sports team
  • Universities and colleges
  • Small to mid-sized companies

Most areas do, and agents can build partnerships with these organizations to find new clients and outbound referral opportunities. Here's how.

1. Know their needs, know your value. First, let's understand why organizations like those above may want to partner with a real estate agent. Many of these companies are constantly moving employees in and out of the area, but aren't big enough to have a relocation department. You can fill this void at no cost to the company by offering to act as their in-house relocation company.