FRON T lines
Stories and insights from
members in the field
By charlie
Flagg, SRA
A MOVING EXPERIENCE
A transferee-centered approach
to relocation appraising
RELOCATION APPRAISAL SPECIALISTS
MUST ADAPT to the changing markets and the
moods of their transferees in today’s tumultuous
executive-relocation environment. Thankfully, the
challenges posed by tentative markets, demanding financial concerns, billowing inventories and
reluctance on the part of some transferees and
families to accept a move — despite rewards,
promotions, income incentives and added prestige — can be overcome by keeping in mind basic
client-interaction protocol.
to address anyone other than the
gentleman who is the head of the
household. We would all be wise
to learn a few greetings in foreign
tongues in this truly global marketplace.
MEETING THE TRANSFEREE
Because relocation appraisal specialists often
represent the only face-to-face contact between
the transferee and their relocation program,
appraisers’ appearance and demeanor are critical. They set the tone for the entire often painful,
stressful, anxiety-filled process of relocation.
As such, they must always look professional,
clean, commanding and purposeful. No jeans,
no T-shirts, no flip-flops — not now, not ever.
Another thing to remember is to be culturally
aware and respectful. In certain cultures, you
are expected to leave your shoes outside or at
least inside the front door. On some occasions,
you would be advised not to address the spouse;
it’s inappropriate and impolite in certain cultures
TYPES OF TRANSFEREES
While navigating today’s troubled waters of relocation, the relocation professional must practice
a degree of empathic objectivity: taking time to
know and understand the pressures facing the
transferee and their family while maintaining the
objectivity needed to develop realistic valuations.
Here is a sampling of situations the relocation
professional may face that require a greater-than-normal degree of sensitivity.
First-time movers: In his or her first job
after college, the young transferee is sitting in
his or her first house when you arrive. Fearing,
perhaps for the first time, a move away from home
and family, the young transferee deserves the
extra time spent to explain this process and how
it will unfold. Present ideas for how such young
transferees may prepare themselves for their next
purchase. Refer them to a list of appraisers in the
destination city.
OTHER RELOCATION CHALLENGES
Beyond the call for the inclusion of additional comparables, relocation appraisers have been
encouraged to include sales proffered by the transferees, plus additional competing properties
including “new construction within 10 miles” of the subject. Furthermore, the importance of
analyzing competition has expanded to include a market-based “list-price-to-sale-price ratio”
and the imposition of adjustments to the competing properties in the same manner as that
applied to the sold properties.
In other words, the halcyon days when three listings and three “solds” made a complete
relocation report are gone; today’s report that has 10 to 12 properties is the rule rather than
the exception.
