MADISON, N.J., March 24, 2021 /PRNewswire/ — Realogy Holdings Corp. (NYSE: RLGY), the largest full-service residential real estate services company in the United States, and PCSgrades, a ratings and review platform focused on real estate and relocations for military and veteran families, conducted a new survey that found 93% of active-duty service members and their spouses said the pandemic made a permanent change of station (PCS) even more challenging, with nearly half (46%) expecting to relocate this year. The survey examines some of the biggest hurdles military members face when relocating, as well as the type of support they value most, going into what is expected to be an even busier 2021 PCS season following many moves that were put on hold amid the pandemic last year.
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The new data found that 97% of active-duty service members and spouses say it is important to work with real estate professionals who have expertise working with active-duty military and their families. Today’s announced collaboration, Realogy Military Rewards with PCSgrades, is a home buying and selling program that pairs military and veteran families, who make up 23% of all U.S. homebuyers*, with experienced agents from one of Realogy’s well-known and trusted residential real estate brands – including Better Homes and Gardens® Real Estate, Century 21®, Coldwell Banker®, Corcoran Group® and ERA® – trained to support a military member’s real estate journey. The program also offers $350 to $7,500* in cash back rewards, based on the home’s sale or purchase price, in most U.S. states when transacting.
According to the survey, 60% of active-duty service members and spouses have purchased a home for a duty location and 77% say their desire to own a home has either increased or stayed the same compared to before the pandemic. The combined Realogy Military Rewards and PCSgrades program is committed to increasing the number of military and veteran homebuyers by providing trusted resources tailored to the unique needs of military families. The program not only offers a cash reward and an experienced agent to guide them through the home buying or selling process, participants will also benefit from local insights from military and veteran families. Through PCSgrades’ online platform users have access to real-life testimonials from fellow military and veteran families on topics like local neighborhoods, base housing, moving companies, schools and more.
With 83% of active-duty service members and their families reporting that they are not getting enough relocation assistance from the military during the PCS process, PCSgrades and Realogy Military Rewards combine resources under one program to provide the military knowledge and real estate expertise to address these issues.
Founded by experienced military community members, PCSgrades offers firsthand experience in the relocation needs for military members, veterans and spouses, as well as trusted community insights. The organization was built on the belief that the military family takes care of each other.
Military Family Survey: Homebuying / Selling Needs with Frequent Relocations
Military Families Reveal Time Constraints are Top Frustration When Relocating
- 93% of active-duty service members and their spouses said the pandemic made a permanent change of station (PCS) even more challenging.
- 96% of active-duty service members and spouses face challenges during a permanent change of station (PCS).
- Time constraints in finding a new home (45%), logistics of the move (40%) and deployments while adjusting to a new location (30%) were the top three challenges cited during relocations.
Virtual Homebuying: Military Families Decide on New Residences Without Stepping Inside
- 89% of active-duty service members and their spouses who have PCSed have chosen a new home without personally stepping inside and visiting.
- 77% say their desire to own a home has either increased or stayed the same compared to before the pandemic.
- Over half (55%) say they are more confident in the ability to buy a home this year.
Trusted Advisors with Military Knowledge Are Paramount
- 97% of active-duty service members and spouses say it is important to work with real estate professionals who have expertise working with active-duty military and their families.
- Nearly half (46%) ranked fellow military members and spouses as the top trusted resource for a PCS to a base where they’ve never lived before.
- 83% stated active-duty service members and their families are not getting enough relocation assistance from the military during the PCS process.
*The National Association of Realtors (NAR) 2020 Generational Trends Survey reports that active military and veterans represent 23% of all U.S. homebuyers.
The survey was conducted by Wakefield Research on behalf of Realogy and PCSgrades among 250 U.S. active-duty service members and 250 spouses of active-duty service members, between February 25th and March 3rd, 2021, using an email invitation and an online survey.
Results of any sample are subject to sampling variation. The magnitude of the variation is measurable and is affected by the number of interviews and the level of the percentages expressing the results. For the interviews conducted in this particular study, the chances are 95 in 100 that a survey result does not vary, plus or minus, by more than 4.4 percentage points for the total sample, and 6.2 percentage points for both the service members and spouses samples, from the result that would be obtained if interviews had been conducted with all persons in the universe represented by the sample.
"Realogy is proud to continue delivering on its more than 30-year commitment to military members and their families, especially in these uncertain times," said Katrina Helmkamp, President and CEO of Realogy Leads Group. "Since launching our Realogy Military Reward program, we’ve given back more than $5 million to military families. We look forward to delivering more high-quality service and unique insights with PCSgrades."
"At PCSgrades, we know first-hand, the biggest challenges and needs our fellow military and veteran families face when relocating homes," said Todd Ernst, Founder & CEO of PCSgrades. "Realogy Military Rewards offers one of the largest networks of trusted agents experienced in supporting military members and families. Together, we can truly make a difference by giving back to our community while sharing reliable resources and reviews crowd-sourced from the people we trust the most…each other."
About Realogy Holdings Corp.
Realogy Holdings Corp. (NYSE: RLGY) is the leading and most integrated provider of U.S. residential real estate services, encompassing franchise, brokerage, relocation, and title and settlement businesses as well as a mortgage joint venture. Realogy’s diverse brand portfolio includes some of the most recognized names in real estate: Better Homes and Gardens® Real Estate, CENTURY 21®, Coldwell Banker®, Coldwell Banker Commercial®, Corcoran®, ERA®, and Sotheby’s International Realty®. Using innovative technology, data and marketing products, high-quality lead generation programs, and best-in-class learning and support services, Realogy fuels the productivity of independent sales agents, helping them build stronger businesses and best serve today’s consumers. Realogy’s affiliated brokerages operate around the world with approximately 190,700 independent sales agents in the United States and nearly 130,000 independent sales agents in 115 other countries and territories. Recognized for ten consecutive years as one of the World’s Most Ethical Companies, Realogy has also been designated a Great Place to Work three years in a row and one of Forbes’ Best Employers for Diversity. Realogy is headquartered in Madison, New Jersey.
PCSgrades is an online community created by and for fellow military and veteran families to help each other with their biggest must-solve relocation needs through crowd-sourced reviews and local insights. The platform is built on the strongly held belief that it’s the "military and veteran family" that takes care of their own. Topics include local neighborhoods, military family housing, real estate agents, mortgage lenders, moving companies, schools, and more. This free service was created by veterans, service members, and their spouses to share information with the people they identify with and trust the most…each other. PCSgrades also serves as a forum for reputation-based businesses to earn a stamp of approval directly from the military and veteran community, providing tools to help shape their online reputation through an interactive experience with reviewers.
*The cash back bonus is offered in most states. In some states, a gift card or commission reduction at closing may be provided in lieu of the cash back bonus. The program is not available for employer-sponsored relocations or transactions in Iowa or outside the United States. The cash back bonus is not available in Alaska, Louisiana and Oklahoma. In Kansas and Tennessee, a MasterCard MAX gift card will be issued. In Mississippi, New Jersey, and Oregon, a commission reduction may be available at closing. The cash back bonus is only available with the purchase and/or sale of your home through the use of a program-introduced real estate agent. The actual amount you receive is based on the purchase and/or sale price of your home. All real estate commissions are negotiable. Other terms and conditions may apply. This is not a solicitation if you are already represented by a real estate broker. Please check with a program coordinator for details. Program terms and conditions are subject to change at any time without notice. Additional terms, conditions, and restrictions apply.
SOURCE Realogy Holdings Corp.