Cornell University
Relocation Assistance Program
Introductions
Cornell University Real Estate Department
Tom LiVigne
Director of Real Estate
Sarah Dean
Real Estate Associate
Introductions
Allan Bishop
Senior Director, Human Resources
Lynn King, CRP, GMS
Senior Vice President, Client Services
Jen Richtarcsik
Senior Relocation Consultant
Introductions
Lynn King
• 31 year veteran of the relocation and real estate industry
• Holds her Certified Relocation Professional and Global
Mobility Specialist designations
• Frequent speaker on the relocation and real estate industry
• Heads up Corporate Services division of CBRB
Relocation
• Developed the College and University initiative Higher
Education Real Estate Assistance Program - Largest
college and university relocation program in the country
(foundation for Cornell University relocation program we
will be introducing to you today)
Introductions
Jen Richtarcsik
• Assisting relocating employees and families for over
8 years
• Consistently gets very high marks for her ability to
help customers navigate the often complicated and
stressful process of relocation
• Works with a very diverse client base to include
technology companies, colleges and universities and
many other industries
Program Introduction
Relocation Services Program
• The goal is to enhance our ability to recruit, compete for and
effectively transition the best talent by providing
comprehensive relocation services and personalized
coordination of moving for each new hire offered relocation
support.
• Standard relocation packages allowing for flexibility as desired
• Partnership between Cornell Real Estate, Division of Human
Resources and Coldwell Banker Residential Brokerage
Relocation Services
Program Introduction
Relocation Services - supporting strategic direction of the
University
• Faculty renewal - $100 million investment in faculty
recruitment
• Diversification of our workforce (faculty and staff)
• Streamlines and consolidates service delivery allowing Cornell
staff to focus on primary responsibilities
Program Introduction
Program Services position us to:
• More effectively compete for talent by offering coordinated
relocation services similar to what many other organizations
offer
• Strengthen the relocation experience for incoming Cornell
Faculty and Staff
– Address needs in both departure and destination cities
• Provide a seamless transition for new employees, receiving
relocation support, by offering a “single point of contact”
Coldwell Banker Residential
Brokerage Relocation Services
(CBRB Relocation)
Lynn King, CRP, GMS
Senior Vice President, Client Services
About CBRB Relocation
• Full service relocation management company providing
corporate relocation, real estate and moving services to over
200 organizations
• Expertise in developing custom relocation programs for a
diverse client base including Global Corporations, Pharmas
and Tech Companies, Non-profit Organizations, and
Colleges/Universities
• Assisting employees in transition for 37 years
• Headquartered in Massachusetts with a staff of 36 relocation
professionals
About CBRB Relocation
• A wholly owned subsidiary of Realogy, the largest real estate
and relocation organization in the world
– Owns the Coldwell Banker, Century 21, ERA, Sotheby’s International
and Better Homes and Gardens brands
– Real estate offices in 99 countries throughout the globe
• Owned and operated by NRT LLC, the largest residential real
estate brokerage company in the nation
• Companies in more than 35 U.S. metropolitan markets
• More than 760 offices, 5,300 employees, and 46,000 sales
associates
Our Mission
• To assist you in your critical role of attracting, recruiting and
relocating top talent to the Ithaca area
• To provide incoming Cornell Faculty and Staff Members with
comprehensive relocation and real estate services
• To manage and coordinate each Faculty and Staff Member’s
move as a “Single Point of Responsibility” while offering
concierge-style service
• To provide continual communication on the status of each
move
• To provide continual communication on market conditions and
new services that may benefit your department
Program Overview
• Designated Program Consultant
– Advocacy and guidance
– Community information and real estate counseling
– Individualized agent selection
– Home sale and purchase assistance
– Rental assistance
– Coordination of household goods shipment
– Temporary living accommodations
Program Overview
• Cash Back on home sale (only applies to sale of home in
departure location)
– Helps offset relocation costs
– Employee receives cash back within 2/3 weeks after
closing
– Non-taxable event for the employee
• Mortgages at reduced rates and/or closing costs through
program preferred mortgage providers using Cornell's and
Real Estate Assistance preferred lenders
Cornell Relocation Packages
Service Description
Cornell University Relocation Packages
Flexible
Package
*Miscellaneous Allowance (lump sum)
A sum of money used for house hunting trips (cost of lodging, travel, food,
rental car) and for any temporary housing (cost of lodging while waiting to
move into permanent housing)
See ‘Tax Assistance” below
Household Goods Shipment and Insurance
Pack, load, and delivery/$120,000 replacement value coverage
Automobile Shipment
One auto if the distance is greater than 1,000 miles from old home to Ithaca
Storage-in-transit
Up to 30 days, if needed
*Rental Tour
$700 service fee – Research and guided tour of available rental properties
See “Tax Assistance” below
*Lease Cancellation
Typically charged by apartment management companies and landlords to
break a lease - Equal to two month’s rent
See “Tax Assistance” below
Home Marketing Assistance
Must use CBRB Relocation referred broker
*Existing Home Sale Expense Reimbursement
Must use CBRB Relocation referred broker
Reimburse cost of commission (not to exceed 6%) and normal and customary
seller costs
See “Tax Assistance” below
*New Home Purchase Expense Reimbursement
Must use CBRB Relocation referred broker
1% of new home closing costs
See “Tax Assistance” below
Tax Assistance
Only offered with prior authorization in special situations to offset tax
impact of items with an* (Included in Homeowner Package 2)
X
Renter
Package
Homeowner
Package 1
Homeowner
Package 2
X
Amount Determined
by University unit
X
Amount Determined
by University unit
X
Amount Determined by
University unit
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
Pre-hire
• Pre-hire candidate counseling
• Links to community information and resources
• Relocation cost estimates
• Cost of living analysis
• Departure area market research
• Destination candidate area tours
• Mortgage Pre-approval (through Cornell University preferred
mortgage providers)
Post Offer Acceptance
• Full needs assessment with Faculty/Staff member and
spouse/partner
• Counseling to relocation package benefits and best use of
Miscellaneous Allowance (lump sum), if applicable
• Agent placement for home purchase/rental and community
assistance
• Marketing assistance on departure home
– 2 broker price opinions from top agencies
– Strategic marketing plan and guidance
Post Offer Acceptance
• Assistance with lease cancellation
• Household goods shipment survey and full coordination
• Identify temporary housing options, if needed
• Advise relocating Faculty/Staff on tax implications of their
move and tax assistance benefit, if applicable
Additional Support and Services
• International Settling-in Services
• Periodic local/national real estate market updates
• Out of market area real estate research/housing comparisons
• Home Buying and Selling Seminars/Webinars
• Real Estate and Relocation Industry Seminars
Agent Selection
• Participation from local area real estate companies
– Warren, Audrey Edelman, CB George T Decker, Remax
– Real Estate Owners determining best fit agents for program
based on qualification criteria
• Real estate owners/managers selecting appropriate agent to
work with Faculty/Staff Member based on feedback from the
CBRB Program Consultant
• Agents able to register Faculty/Staff Members to ensure full
program compliance
• High inclusion of Ithaca area real estate agents
Agent Selection
• Agent Criteria
– Must be a full-time, licensed and experienced agent – 2 or
more years in the industry with a minimum of 10 closed
transactions per year
– Knowledge of entire service area, school systems,
hospitals, etc.
– Willingness to do Candidate Area Tours, work with renters
as well as with the home buyers
Agent Selection
• Agent Criteria
– Full understanding of Cornell and CBRB relocation process
(CBRB is providing training to all participating agents
Tuesday and Wednesday of this week)
– Great customer service and communication skills
– Must send bi-monthly updates to the dedicated Cornell
Relocation Program Consultant
Program Process/ Procedures
Cornell University Recruiter’s Guide
• A guide is available for all recruiters on the University
Relocation website that includes:
– A matrix of available Relocation Packages
– Instructions for initiating candidates/new hires into the program
– Program initiation form and Relocation Package templates
– Details of the services provided by CBRB Relocation
Program Process/ Procedures
Pre-hire Stage – Getting Started
• Review the University Relocation
Package Matrix (found on
University Relocation website)
• Determine best package option
and Miscellaneous Allowance
(lump sum) for candidate offer
• CBRB Relocation will assist with
estimating potential costs for
candidate, if desired
Program Process/ Procedures
Pre-hire Stage (optional)
• Initiate candidate with CBRB
Relocation for pre-hire assistance
by completing the Relocation
Assistance Form (found on
University Relocation website)
• Identify desired services:
Candidate Area Tour and
Relocation Cost Estimate
• Identify Relocation Package you
intend to offer and Miscellaneous
Allowance amount (for Cost
Estimate preparation)
Program Process/ Procedures
Pre-hire Stage (optional)
• Upon receipt of Relocation Assistance Form, the CBRB
Relocation Program Consultant will:
– Contact the candidate and conduct a needs assessment
– Schedule a Candidate Area Tour, if requested
– Prepare a Relocation Cost Estimate, if requested
Relocation Cost Estimates
Program Process/ Procedures
Extending the Offer
• Use the University Relocation
Package Matrix (found on
University Relocation website)
to determine the Relocation
Package you wish to offer the
candidate.
• Relocation Package templates
for the various benefit packages
are also available on the website.
• Download the appropriate template,
customize, and provide to candidate
with offer.
Program Process/ Procedures
Post Offer Acceptance
• Upon acceptance of an offer, re-submit the candidate’s
Relocation Assistance Form to the CBRB Relocation Program
Consultant (if you did not initiate the candidate for pre-hire
assistance you will need to complete the form for the first time)
– Review the existing candidate information and amend if necessary
– Ensure that the proper Relocation Package is represented
– Ensure that the proper Miscellaneous Allowance Amount is
represented
– Provide the name and contact info for the individual who will be
receiving all invoices if not the form authorizer
Program Process/ Procedures
Post Offer Acceptance
• Upon receipt of Relocation Assistance Form, the CBRB
Relocation Program Consultant will:
– Re-connect with the candidate, or contact the new hire and
conduct a needs assessment
– Initiate the new hire into the program by reviewing the
details of their Relocation Package and scheduling vendor
services
Thank you for joining us today!
Questions
Cash Rebates on Home Sale
Sale Price
$100,000
$150,000
$200,000
$250,000
$300,000
$350,000
$400,000
$450,000
$500,000
*Cash Rebate
$300
$450
$600
$750
$900
$1,050
$1,200
$1,350
$1,500
*The ability to pay a cash rebate may be modified by
State law or prohibited in some States.