In this video we will share our thoughts about adding
move management services to your current mature market niche.
If you are contemplating incorporating move management services into your senior real estate sales business, there are definitely some things to consider before going all in.
Start by answering the following questions.
- Is there at least one reputable move manager in your area who can serve your clients effectively?
- Have you made attempts to utilize the services of local move managers, and if so, what went well and what didn’t go well?
- Have you had strategic conversations with area move management providers to see how you can best work together? If so, does it seem like a good fit, or are there gaps in their services that create a challenge for you or your clients?
If you have done your homework, had interviews with key providers in your market, and/or have attempted to use the move management services available to you, but it’s still not working out, you may want to consider offering the services as part of your overall package.
Here are a few things which could lead you down the path of offering move management in-house versus using existing services:
- Local move managers tend to be unavailable in the timeframe needed.
- Local move managers don’t handle emptying the house after they move the client and are unwilling to provide this service.
- The services of move managers you have tried are not adequate or do not meet your standards.
- The move manager in your area is a competing agent or has strong ties to another agent to whom they refer.
- The prices of the move manager in your area are outside the range of what you clients can afford or are willing to pay.
Starting a move management business
Several CSHPs around the country have found that having an ancillary business which provides move management for their clients (and possibly others) is beneficial and often rewarding. But before you dive in, here are a few more things to consider.
Are you prepared to:
- Make time for hiring, training, and managing staff members to provide the services.
- Do some of the work yourself in the beginning if necessary (and it likely will be).
- Pay for things like insurance, supplies, and marketing.
By offering move management services, you are able to provide an end-to-end solution for your clients that will be unmatched by typical agents. This will undoubtedly be appealing to a lot of clients who will see the value in a one-stop-shop experience.
But let’s be clear and completely honest here as it relates to profitability!
Move management, in and of itself, is not a huge money maker in a lot of markets. As an agent, your real estate practice should continue to be your primary source of revenue, with move management being self-sustaining (at a minimum) and profitable once it’s up and running. Just like everything, this takes time.
If you spend too much time doing moves and take the focus off of your real estate sales business, this can be detrimental. Move management should create additional real estate leads, help you nurture relationships with senior communities, and enhance your overall business efforts – not detract from them.
If you are considering specializing in the mature market
as a residential real estate niche and are looking for tools,
resources, and coaching, you have come to the right place!
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