USAA's program as well as other similar programs are NOT designed to help you, their clients. They are designed as huge profit centers and to pad USAA's pockets. The Mover's Advantage program is a prime example of this.The buyer or seller using this service might get lucky and get a good Realtor but the truth is, USAA does not care whether the Realtor is good or not. All they care about is whether the Realtor will agree to pay them their HUGE cut of the commission of which they pass on a small stipen to the buyer (YOU). AND, THEY PURPOSEFULLY WITHHOLD THIS INFO FROM THEIR CLIENTS(YOU) and go a step further in making Realtors sign an agreement that they will not tell you how much money USAA is making off of you! Dishonesty in business is a BAD THING. Real Estate firms pay to be on USAA's list of Realtors because so many Military use USAA. It is better to have something than nothing, and I can assure you all of the Realtors I talk to do not like it and just find it to be a necessary evil. Since Realtors pay to be on their list, it is not at all about qualifications of the Realtor or the Client's(YOUR) best interest, it is about which Realtor will pay USAA and keep hush hush about it.
If Military will open their eyes, quit falling into this tangled web and realize they are costing themselves quality of service and money, it will best for everyone.
Pick your own Realtor and ask them to give you the same amount being offered by USAA, they will more than likely be happy to pay you what you would have gotten and then you get to work with the Realtor you want! Not have a "here are two choices, pick one" situation. USAA is not a real estate company. Hire the Realtor you choose, not the one they force you to use so they can dishonestly make money off of you. Please tell your military friends about this huge disception that is taking pace!
LOG ON to my website http://www.NCmove.com if you are int and quit using USAA! FOR real estate in Eastern NC Cherry Point or Camp LeJeune call me toll-free 1-888-675-9595. I will match the rebate being offered by USAA and similar programs.
Web Reference: http://www.NCmove.com
I do not have a problem with USAA (or Navy Federal, by the way, with whom I'm also approved) giving a portion of my referral fee to the client. The buyers are typically clients that are relocating, who I would not have a shot with, and the sellers are clients who I can "lock" in place, since I'm USAA approved, in order to get their Mover's Advantage benefits they have to list with an approved agent.
USAA is a great company, and is available not ONLY to current and former military, but to their families and descendants as well. They offer many benefits, and homesales benefits are merely the tip of the iceberg. They have a credit union, insurance services, mortgage services, checking accounts, gas cards, discounts with many major companies... and as membership, they're HIGHLY competitive.
a great company, I can't say enough good things about them.
The issue that I take with this program is that you are basically "assigned" a Realtor because they were willing to give up the referral. It is not based on how educated or experienced a Realtor is.
I have had more than a few of the following experiences:
My clients are approved through a well known lender, I have been showing them houses and we have locked into a home. They called USAA to get homeowners insurance and instead of just giving them the insurance quote USAA pushed this program onto them convincing them of the rebate, but that I would have to sign up for them to get it.
As a Realtor I do not sign up for these programs because I believe it is perpetuating a fraud. This is not a simple rebate from USAA. If USAA were to say "use one of our Realtors and we are going to take a cut of their commission that they worked hard for, when we get that commission we are going to give you a small fraction of what we get from your realtor...does that sound good to you?" Then I would not have an issue with this program.
My issue is when I am ALREADY the Realtor and USAA knows that my clients are just looking for insurance, they throw this out to them.
By the way Navy Federal Credit Union does the same thing.
I don't agree with these two companies trying to hijack clients already in relationships with Realtors just so they can get a piece of the pie.
The phrase is "sour grapes". So, all that being said, if you are looking to buy or sell and you are a member of USAA, it is in your BEST interest to sign up with Mover's Advantage and get the fantastic rebates they offer. I promise, if you are not happy with your agent, USAA will have your re-assigned in a "skinny minuter". For further discussion or advice, feel free to call me at 803-468-4291 or email me at firstname.lastname@example.org.
Debbie Bowen, ERA Wilder Realy, Sumter SC, Proud provider of EXCELLENT service to the military community.
Their realtors humor me, waste my time, never call again.....
This morning they will get a final earful from me. Lousy program unless you have big bucks and fall into a "certain category."
Talk about a great Realtor! :)
My husband and partner has been a member of USAA since 1962, when he was still an ROTC Cadet. We are very familiar not only with USAA and most of its programs, but also with the military since he served a 30 year career in the army. I have almost 20 years real estate experience in San Antonio, and my retired officer husband has worked with me for the past 10, so I don't think it is "sour grapes" to say that we can represent our clients as well as any of the USAA "certified" representatives can here in San Antonio.
We just look at it as healthy competition and offer to our USAA clients the same benefits on the chart that Bruce provided plus $100.00. That way we don't have to pay the whole USAA fee, the client can still use their lender or any other if they wish. The only issue I have with the whole thing is that I am forced by law to disclose that "rebate" ( for lack of a better term) on the HUD statement and USAA simply mails the client a check - no disclosure necessary. I don't get it.
One more thing. I am sure most of the agents in the program are wonderful, hard working agents, just trying to pick up some new clients ( and of course they would never cut a commission, but that is different and that is another blog article). BUT, if you do happen to get an agent that is not a good fit, they will give him or her the boot and replace with another agent. I know because that happened to my son while he using the program in another state at my suggestion.
Does anybody know if they 1099 those payments?
Stephanie Kelley, ABR, CRS, GRI
Keller Williams, Legacy
With USAA and Navy Federal Credit Union, both programs are available to any eligible member (not just active duty).
You can take advantage of both the USAA and NFCU programs WITHOUT using them for your mortgage (I have never used their mortgage programs during the numerous times that I have used the programs). The purchase and sale rebates are the same whether you finance with them or not.
Both with USAA and NFCU, you receive the rebate within 4-6 weeks (USAA credits it to your checking account and NFCU credits it to your tied credit union savings/share account).
Buy or sell your home with USAA and earn up to $3,100 cash back.
Get up to $1,550 when you buy or sell your home through USAA MoversAdvantageÂ® real estate services. Receive up to $3,100 when you do both. Sell or purchase a home of this value: Receive this cash bonus:
$0 â€” $99,999 $350.00
$100,000 â€” $149,999 $650.00
$150,000 â€” $249,999 $950.00
$250,000 â€” $399,999 $1,250.00
You will also receive:
A USAA real estate coordinator to act as your advocate and oversee the entire home-buying process.
Access to a national network of local licensed real estate agents specially selected and certified to assist USAA members.
Typically Coldwell Banker is their agent of choice. I've had two clients establish relationships with me and ask me to give the Mover's Advantage rebate to them. For a house above 150K it is, I believe, $945. They also help them with a variety of other things such as moving companies and other services.
Those are they types of things I hear about these agents in our area but I am sure it varies by community and the number of real estate agents in a particular area. I would recommend finding and agent that has been in the business for at least 2 years working full time. Would you use an attorney that works part time at Target? it's a big purchase you should get professional help.
I lucked out, my first realtor was incredible, she answered so many questions as a first time home buyer, and made me very comfortable along the entire way.
I had a great experience with them, and would recommend Mover's Advantage to anyone.
I find the only negative comments are from competing agents listed on this webpage, and individual experiences have been great.
New home owner in Kansas
I wonder if Deanna was pressured by her firm to write an apology. For the firms that receive the referrals, it is like fishing in a bucket. Just churn the buyers through. I happen to know an ERA agent and she only gets 30% of the USAA sales. Her company gets the 60% (USAA keeps 40%), then ERA splits it with her. I know my ERA friend is pressured to go out of her way to be nice to USAA because her firm wants to keep their contract. And, I am not picking on ERA. Different markets have different firms that represent them. I for one am glad my firm has not "sold out" to this
As an example, for a $250,000 home purchase, USAA will give the buyer $1250. Guess what? USAA gets $3000 based on a standard 3% commission to the selling agency. So, USAA does not even give the buyer half of what they get! They keep $1750 and give you $1250. Do you think they REALLY Care about the quality of your service or do you think they want $1750 X hundreds and thousands of unsuspecting clients=Millions of dollars for USAA? What do you think?
Be smart and choose your own Realtor. Do not deal with lies and deceit! Go to http://www.NCmove.com if you are buying a home in Eastern NC. The Tyson Group-Steve and Jana J. Tyson will meet the deal offered by USAA and it will all be honest and above board.
I have used Mover's Advantage and thought it was great. USAA told me it was there to take care of me and look out for my best interests. I believed them. Then I retired and became a Realtor. I thought, well, USAA says that movers advantage is about putting agents who know what it's like to serve together with those who serve. I gave them a call...I have served for 26 years, I know what it's like to serve, and now I'm an agent...perfect fit! That's when I found out that Steve and Janna Tyson are correct!!! USAA told me they don't run the program, it's a contracted service. The service told me, they didn't care if I was a VET, they only used agents from a few very large real estate agencies. It's NOT about helping the members. It's about the money! I was very disappointed. I'm sure a few hours of training has taught those agents as much about what it's like to serve as my 26 years of service!! I don't care about the fact that I can't be one of their agents or reap the benefit of business from the program. What saddens me is that I thought USAA was looking out for service members, but they're really just in it for the money. Yet another sign that they are no longer an association of officers looking out for each other, but a big insurance company/bank.
The better choice may be to 1) listen to your friends and get some good referrals of Realtors that will listen and represent YOU. 2) at first, talk to a couple of realtors, it sometimes really is a â€˜wavelengthâ€™ issue - then decide â€“ your loyalty will be repaid many times over 3) ASK. Ask if they will match the rebate, in most areas where there is a heavy military influence, most brokerages will match the USAA Advantage benefit to the service member, even if they are not a USAA affiliated company.
I have 27 years of experience with relocation, owned a successful brokerage. when someone promises you a small amount of money at closing, IT ALWAYS comes at a bigger hidden price.
Any questions ask me at http://www.dd.remax.com
Dan De La Portilla
Charlotte North Carolina
The key is that it is still a form of steering. USAA claims their people will get a better rate but their rates and fees don't make the numbers work and they are lying to the military service members. USAA Mover Advantage has also talked three of our companies Buyers under buyer agency contract into ignoring or canceling the contract. That is contract interference.
Coldwell Banker is a Cendant corporation entity, thus they use CB almost exclusively, but not when the clients are jumping ship... :-) Carolyn Spence,
Weichert Realtors - The 505 Group, Clovis NM