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The real estate industry is known for its competitiveness. Agents are always looking for ways to differentiate themselves from their peers. To further member retention, REALTOR® associations need to set themselves apart, too.
One way that some REALTOR® associations have been able to stand out is by providing unique and valuable benefits to their members. Recently, I presented to my board of directors the idea of purchasing a moving truck for our members and their clients to use, free of charge, as a member benefit.
This idea of real estate professionals providing a self-branded moving truck to clients is not a new one, but it is relatively uncommon for an association to provide that service. However, our REALTOR® association recognized that the bother of obtaining a moving truck is a common pain point for movers and decided to act.
The decision to buy a moving truck was not made lightly. The board had to consider the cost of the truck, ongoing maintenance and insurance costs, and the logistics of managing the truck and scheduling its use. One bonus is the tax deduction for vehicles that are over a certain weight, which is a full deduction that is not amortized over the years. After careful consideration, our board members saw more pros than cons and determined that the benefits to our members and their clients outweighed the costs.
In December 2022, we purchased a 16-foot box truck on a Ford E250 frame, which cost $65,000, including the vehicle wrap fees. Our monthly insurance cost is roughly $275.
A Selling Point
For members, having access to a moving truck can make a big difference in their business. It allows them to provide an additional service to their clients that sets them apart from other real estate agents in the area. For some clients, it may eliminate the need to rent a truck, reducing the hassle and cost of moving, especially important if they’re on a tight budget after buying a home. It’s a great selling point for an agent’s listing presentations.
Of course, association staff love using the truck as a display at member and community events. It’s also been useful in transporting auction items for our golf tournament as well as moving centerpieces, AV equipment and hundreds of awards for our awards ceremony. Plus, last year, we held a “Stuff the Truck” fundraiser to fill the moving truck with school supplies for local schools.
Some Setup Required
There are some logistics involved in having a moving truck as a member benefit. Our association has established guidelines, including scheduling procedures, insurance requirements and rules for returning the truck in good condition. We created a rental form through our association management software, and we provide a link and calendar showing availability. We also installed a GPS tracker, which monitors the truck’s location and rate of speed as well as mileage. In addition, we have to make sure the truck is properly maintained and serviced to ensure that it remains in good condition for users.
The decision to purchase a moving truck was a bold move by our association. Despite the logistical challenges, it has proved to be a valuable benefit. Members and their clients have expressed appreciation, and the association has received positive attention for its innovative approach to supporting members.
“I had the opportunity to use our new box truck yesterday,” wrote REALTOR® member Wade Abed of Royal Shell Real Estate in a recent Facebook post. “You would not believe how many people recognized me driving down the road. What a great form of advertising. … It was an awesome experience. Spread the word; what a great surprise for your buyers and sellers!”
