Month: January 2019

Categories
Global Relocation Tips Global Relocation Trends Talent Mobility

India’s Cloud Computing Job Growth Offers Relocation Opportunities

Shot of a group of programmers working on a computer code at night
Great Learning, an educational technology platform company for executives, reports that up to 1 million new jobs in India may be created by the growth of the cloud computing market. Currently, India has a $2.2 billion market in this field. By 2020, this market will grow to $4 billion due to over 30% annual growth rates.

How is Cloud Computing Defined?

Cloud computing is distinctly different than traditional computing solutions found in many companies. Traditionally, companies manage IT resources, computers, database storage, security, and software applications. These would be housed on physical hardware located at or near their premises. Cloud solutions offer all of these IT resources through a cloud services platform, accessed through the internet.

Types of Cloud Computing

There are three main types of computing that can be done in the cloud:
  • Infrastructure as a Service (IaaS)
  • Platform as a Service (PaaS)
  • Software as a Service (SaaS)
With cloud computing, companies only pay for the services they need, within a flexible, low cost framework. As a result, companies can utilize their limited valuable resources to pursue corporate objectives. Rather than invest in IT hardware and software, companies are free to invest in value adding activities. They also benefit from the provider’s specialized skills and investments in technology.

What Jobs are in this field?

Cloud computing jobs typically entail specialized training and skills. Often, these jobs require higher education and degrees in the fields of computer science, computer engineering, and information systems. For example, candidates for a Specialist position should have skills in the following areas:
  • Systems Architecture
  • Virtualization Technology
  • Analytical Reasoning
  • Collaboration

What does this mean?

Within India, as well as across the world, the growth in cloud solutions will lead to increasing demand for employees with applicable education and skills. The worldwide cloud computing market is projected to reach $411 billion by 2020. Also, over $1.3 trillion in IT spending will be affected by companies shifting their spending to the cloud by 2022. In India, several thousand cloud computing  job postings advertise vacancies. By comparison, US job postings in this market show approximately twenty thousand positions. Several technology companies in China have aggressive plans to dominate this market.

What should employers expect with Cloud Computing?

Employers should expect that demand for employees with cloud computing skills and experience will increase dramatically over the next several years throughout the world. They should also expect that traditional recruiting efforts may not be successful in attracting candidates with the skills and experience they need to success with cloud computing efforts.

What should employers do?

Employers in India should review their company’s growth plans and requirements for jobs within this market. They should also determine how their company’s growth plans will impact the cloud computing jobs required to meet their business plans and goals. Employers should examine their relocation policies to determine if they would benefit from enhancements to attract new hires and transferees looking to take computer industry jobs in India. Also, they should look into helpful educational resources for employees, such as an online tutorial for AWS (Amazon Web Services). Employers may benefit from reviewing a Technology Industry Case Study that identifies successful tactics for attracting new hires and transferees. They may also benefit by learning how other markets, such as healthcare, have been leveraging relocation benefits to attract and retain talent.

Conclusion

GMS’ team of global relocation experts has helped thousands of our clients develop relocation programs that attract and retain qualified employees across the world. Our team can help your company determine how to plan for India’s cloud computing job growth and the many opportunities it presents. Learn best practices from Global Mobility Solutions, the relocation industry and technology experts who are dedicated to keeping you informed and connected. Contact our experts online to discuss your company’s relocation program needs, or give us a call at 800.617.1904 or 480.922.0700 today. Request your complimentary Visa Program Assessment
Categories
Global Relocation Global Relocation Challenges Global Relocation Tips Global Relocation Trends Talent Mobility Visas and International Travel

Upcoming Skills Gap in United Arab Emirates Requires Workforce Planning and Education Reforms

Effective workforce planning and education reforms in the United Arab Emirates (UAE) will help the seven emirates address an upcoming skills gap in their labor market. The Knowledge and Human Development Authority (KHDA) expects 40% of current jobs to disappear from the market over the next decade.

The decline of current jobs will impact the labor market across the range of all seven states within the UAE:

  1. Abu Dhabi (the capital of the UAE)
  2. Ajman
  3. Dubai
  4. Fujairah
  5. Ras Al Khaimah
  6. Sharjah
  7. Umm Al Qalwain

Fourth Industrial Revolution Helps Create Upcoming Skills Gap

All of the emirates are experiencing the effects of the “Fourth Industrial Revolution.” This revolution reflects the velocity, scope, and systems impact of a digital transformation that is changing economies, jobs, and work as it is currently known. Characteristics of the revolution include a fusion of technologies across the physical, digital, and biological spheres. As a result, the revolution impacts many areas, including:

As a result, many current jobs will disappear in the future, and employees are facing an upcoming skills gap. New jobs will appear that require skills applicable to the digital revolution’s needs.

How is UAE Planning for the Upcoming Skills Gap?

KHDA recognizes that new jobs will emerge in the labor markets, and these jobs will require technical skills. As a result, KHDA notes that a 10-year visionary planning effort must be undertaken to find solutions. KHDA believes these solutions will be found in several areas, including increasing family involvement, understanding the growing economy’s job requirements, and identifying future opportunities.

A strategy shift to address the upcoming skills gap will also require changing the education system. This change will equip residents with the appropriate technical skills that will enable them to successfully obtain new jobs in the future. As the KHDA recognizes what needs to be done, the organization and other UAE entities note the need to focus on education as well as practical, working-knowledge skills. Ideas in the planning stage include using the final year of education for internships and assignments at companies.

What does this mean?

The UAE recognizes that the digital revolution will create new job requirements. They also recognize at the same time that current jobs will disappear. This creates a need for appropriate planning to address the upcoming skills gap. Additionally, emirates growing at exceptional rates such as Dubai may have a surplus of jobs that require new technical skills. This surplus of jobs may require transferees from outside the emirates to relocate to the region in order to sustain economic growth.

What should employers expect?

Employers in the UAE should expect that current jobs may decline and employees may face an upcoming skills gap. Employers should also expect a rise in the need for new jobs that require new and extensive technical skills to meet the needs of the digital revolution.

What should employers do?

Employers in the UAE should review their company’s growth plans and requirements for jobs across all levels of skill sets. They should also determine how their company’s growth plans will impact the jobs required to meet business plans and goals. Employers should consider how they can address current employees who may face the upcoming skills gap. They should focus on training, education, and retaining employees who have valuable company experience and talent. Also, employers should review their relocation programs to determine how to present their company’s opportunities in the best light to attract highly skilled new hires and transferees.

Conclusion

GMS’ team of global relocation experts has helped thousands of our clients develop relocation programs that attract and retain qualified employees across the world. Our team can help your company determine how to plan for the UAE’s upcoming skills gap and its impact on employees, new hires, and transferees.

Learn best practices from Global Mobility Solutions, the relocation industry and technology experts who are dedicated to keeping you informed and connected. Contact our experts online to discuss your company’s relocation program needs, or give us a call at 800.617.1904 or 480.922.0700 today.

Request your complimentary Visa Program Assessment

Categories
Buy a Home

8 Differences Between a Relocation Appraisal and a Mortgage Appraisal

Portrait of mixed raced couple sitting together with bills, calculator and digital tablet calculating their expenses

Many of Global Mobility Solutions’ clients have transferees who may be participating in a home sale program as part of their relocation package and will require a Relocation Appraisal for their home. This type of appraisal has a different purpose and use when compared to a Mortgage Appraisal. An understanding of these differences will help clients as they work with their Relocation Management Company to manage a successful relocation.

GMS spoke with Mark A. Gronke, Vice President at Fidelity Residential Solutions who agreed to share his advice and guidance on the differences between a Relocation Appraisal and a Mortgage Appraisal.

What are the Differences Between a Relocation Appraisal and a Mortgage Appraisal?

According to Mark A. Gronke, Fidelity Residential Solutions points to 8 specific differences between a Relocation Appraisal and a Mortgage Appraisal. Clients should understand what these difference are, and how they relate to their company’s relocation program. These differences cover broad areas including purpose, use, marketing, and analysis of the appraisal:

Purpose of the Appraisal

  • A Relocation Appraisal will provide an estimate of the anticipated sales price. By comparison, a Mortgage Appraisal will provide an estimate of the home’s market value. Some homes may appraise for more than the contract sales price during a Mortgage Appraisal. This only looks at the anticipated sales price, not the value of the home.
  • The decision making timeframe for a Relocation Appraisal is short term. The timeframe only covers up to 120 days. This accounts for the planning, review, and implementation of the transferee’s relocation process. A Mortgage Appraisal has a decision making timeframe that is long term. The timeframe may cover up to 30 years, the life of a 30 year mortgage. Mortgage lenders look into the future to ensure the home’s value will remain intact over the life of the mortgage.

Use of the Appraisal

  • The intention of a Relocation Appraisal is solely to facilitate corporate relocation. The client receives the report. The client may be looking at indicators that relate to how long the home may reside on the market. By comparison, the intention of a Mortgage Appraisal is to facilitate mortgage lending. A mortgage lender receives the Mortgage Appraisal. The lender may be looking at indicators that refer to the value of the home and its condition. They also may be looking at other factors when considering lending on the property.
  • A Relocation Appraisal would be completed using the Worldwide ERC® Summary Appraisal Form (updated 2010). This would be completed by a trained and licensed real estate appraisal professional following the ERC’s specific set of definitions and guidelines, who is working for the client. A Mortgage Appraisal would be completed using the Uniform Residential Appraisal Form (1004). This would be completed by a trained and licensed mortgage appraisal professional, who is commonly working for a licensed Appraisal Management Company.
  • A Mortgage Appraisal notes the design and appeal of a home. By comparison, a Relocation Appraisal emphasizes design and appeal as critical considerations. Since the Relocation Appraisal has such a short time frame of only up to 120 days, these factors may have a major impact on the corporate relocation process.

Marketing Time and Market Value

  • For a Relocation Appraisal, the marketing time is not to exceed 120 days. This timeframe only reflect the period covering the relocation process. A Mortgage Appraisal’s marketing time does not have a limit, as it does not correspond to a specific, time-defined process. While there may be specific dates related to mortgage terms, the ability to change those dates or accept a lower interest rate in return for paying additional points could extend the timing, if the mortgage lender is in agreement.
  • Marketing a home occurs after the date of a Relocation Appraisal. However, a Mortgage Appraisal is conducted after a home has already been on the market. By the time a Mortgage Appraisal is conducted, there could have been changes to the marketing program or a host of any number of other factors. This information may impact the market value of the home, and in turn the Mortgage Appraisal.

Retrospective Analysis 

  • A retrospective analysis for an appraisal is an overall review of factors that could impact the appraisal’s results, such as any risks that could affect the sale price of the home. The client will use the information for forecasting purposes. A Mortgage Appraisal does not provide for any forecasting in a retrospective analysis. A Relocation Appraisal, however, includes a forecasting component. This is important for clients so they can understand aspects of the Relocation Appraisal that may have future budgetary impact.

What Should Employers Expect?

Employers should expect that transferees who may be part of a home sale program may not understand the differences between a Relocation Appraisal and a Mortgage Appraisal. The employer should understand that they are the client for the Relocation Appraisal. As a result, the employer will receive the Appraisal from the professional. Employers should understand that the Relocation Appraisal is not a Mortgage Appraisal.

What Should Employers do?

Employers should communicate guidance for their transferees who may have questions regarding their home’s Relocation Appraisal. Employers should work with their Relocation Management Company to understand the Relocation Appraisal and how it relates to their company’s relocation and home sale program.

Conclusion

Global Mobility Solutions’ team of global relocation experts has helped thousands of our clients with their Relocation Appraisals. We can help your company understand how a Relocation Appraisal relates to your company’s home sale program.

Global Mobility Solutions is proud to be named and ranked #1 Overall, and #1 in Quality of Service by HRO Today’s 2019 Baker’s Dozen Customer Satisfaction Survey.

Learn best practices from Global Mobility Solutions, the relocation industry and technology experts who are dedicated to keeping you informed and connected. Contact our experts online or give us a call at 800.617.1904 or 480.922.0700 today.

We're Here to Help! Request a Courtesy Consultation

Are you ready to talk to a Mobility Pro? Learn how GMS can optimize your mobility program, enhance your policies to meet today’s unique challenges, receive an in-depth industry benchmark, or simply ask us a question. Your Mobility Pro will be in touch within 1 business day for a no-pressure, courtesy consultation.

Categories
Home Purchase Relocation Programs

7 Helpful Tips for Transferees to Prepare for a Relocation Property Assessment

Many of Global Mobility Solutions’ clients have transferees who may be participating in a home sale program as part of their relocation package and will require a Relocation Property Assessment. This Assessment is designed to provide helpful information for the client regarding the home’s condition. While not labeled as a home inspection, the Assessment entails a full review of the home by a professional who is fully qualified to perform the Assessment.

GMS spoke with Mark A. Gronke, Vice President at Fidelity Residential Solutions who agreed to share his advice and guidance on this topic.

How Should a Transferee Prepare for a Relocation Property Assessment?

According to Mark A. Gronke, Fidelity Inspection & Consulting Services provides seven helpful tips and recommendations for transferees to follow. These recommendations will allow the Relocation Property Assessment process to proceed in a quick and efficient manner. Prior to the Assessment, transferees should ensure the following:

Ensure Everything is in Working Order 

  1. Check fixtures and lightbulbs to ensure all are in working order.
  1. All utilities must be on for the Assessment, including any pilot lights for natural gas-fed appliances such as water heaters, stoves, and clothes dryers. Check appliances to ensure all are in working order.
  1. Consider servicing all furnaces and air conditioners prior to the Assessment. This will ensure these systems are in working order and may provide a written statement regarding system function.

Compile Records of Repairs

  1. Compile records and evidence for all repairs completed by qualified professionals and technicians. If desired, provide this information to the professional who is conducting the Assessment before it begins.

Provide Clear and Direct Access

  1. Provide clear and direct access to the home’s water heater, air conditioner, furnace, and electrical panels. If you store boxes and other items nearby, move them away so the professional conducting the Relocation Property Assessment can easily reach these areas and appliances.
  1. Ensure the professional conducting the Assessment has three-to-four feet of open space from all garage walls and all foundation walls. This will let them see electrical outlets and the condition of the walls and finishes. Be sure to clear boxes and furniture from storage areas, under any staircases, and crawl spaces. All of these areas should allow clear access during the Assessment.
  1. Remove leaves and snow, and clear away shrubs and brush along the exterior foundation of the home. Any wood piles, trash cans, or bins kept along the side of a home should be moved away from the home’s perimeter.

What Should Employers Expect?

Employers should expect that transferees who may be part of a home sale program understand their responsibilities to ensure clear and direct access to their home for the professional conducting the Assessment. The client for the Relocation Property Assessment is the employer, and they will receive the Assessment from the professional. Employers should understand that the Relocation Property Assessment is not a Home Inspection Report.

What Should Employers do?

Employers should communicate guidance for their transferees on how to prepare for a Relocation Property Assessment. Employers should work with their Relocation Management Company to understand the Assessment and how it relates to the home sale program.

Conclusion

Global Mobility Solutions’ team of global relocation experts has helped thousands of our clients with their Relocation Property Assessments. We can help your company understand how a Relocation Property Assessment relates to your company’s home sale program.

Learn best practices from Global Mobility Solutions, the relocation industry and technology experts who are dedicated to keeping you informed and connected. Contact our experts online or give us a call at 800.617.1904 or 480.922.0700 today.

Request your complimentary relocation policy review

Categories
Business Services Global Relocation Talent Mobility

Skills Gap in the United States can be Mitigated with Relocation, International PEO

Inside the Heavy Industry Factory Industrial Engineer Works on the Personal Computer Designing Turbine/ Engine in 3D, Using CAD Program.

Many sources recognize a skills gap in the United States. A growing economy generates job opportunities and needs candidates to fill those jobs. When job opportunities expand beyond the local population’s ability to fill those jobs, employers must examine other options. A skills gap affects several industries and locations in the United States.

What can a company do when it is unable to find candidates with the requisite skills? There are several avenues a company can explore when seeking to fill job opportunities. Many companies are able to continue growing by expanding their talent recruitment program’s capabilities. Creative solutions to hiring challenges can help a company achieve success.

What is the Skills Gap in the United States?

Examining the skills gap in the United States shows that technology is driving a need for workers to have knowledge of computers in order to perform what used to be basic job functions. Basic job functions such as following a written set of instructions to mix materials now require computer knowledge to perform the same task. As a result, automation may increase speed and accuracy. However, it also requires a higher degree of knowledge to operate computers and machinery. This is one aspect of the skills gap. Politicians, educators, and employers increasingly focus on STEM programs to address this part of the skills gap. STEM curriculum educates students in science, technology, engineering, and mathematics in a cohesive approach based on actual applications.

Another aspect of the skills gap relates to human interaction and social skills. While much of society increasingly focuses on STEM programs, technology such as powerful Artificial Intelligence (AI) is more likely to automate at least some of these areas. Employers increasingly want written communication, oral communication, team-building, and leadership skills. These soft skills are unlikely to be easily overtaken by AI. As a result, they offer the promise of job stability for employees over a longer period of time.

How Can Employers Mitigate the United States Skills Gap?

There are several ways employers can recruit top talent in a tight job market, and mitigate the impact of a skills gap in the United States:

  1. Leverage social media to expose job opportunities to prospects on these platforms. Passively posting positions or actively presenting via digital ads when seekers enter specific terms into a search engine are all shown to have a positive effect.
  2. Global relocation can be used to fill open positions. The healthcare industry has been facing a critical talent shortage for several years. As a result, healthcare employers focus on several unique solutions such as providing exceptional candidate experiences and creating a superior employer brand. Employers can highlight their company’s relocation program benefits in their recruiting materials to attract talent for global relocation.
  3. International Professional Employer Organization (PEO) lets employers grow their business quickly in international markets. Through this employer of record solution, the International PEO acts as an extension of a company’s Human Resources Department, with a focus on immediate international employment solutions. This lets a company meet demanding business objectives quickly and efficiently.

What Should Employers do?

Employers facing a skills gap impacting their hiring plans should review their talent recruitment programs to ensure creative solutions are in place. A knowledgeable Relocation Management Company can provide valuable assistance to employers looking for robust and effective solutions to hiring challenges.

Conclusion

GMS’ team of global relocation experts has helped thousands of our clients develop hiring and recruiting programs to mitigate the impact of a skills gap. Our team can help your company by using industry best practices to design your relocation program. This will increase your company’s ability to attract and retain new employees and mitigate the effects of a skills gap.

GMS was the first relocation company to register as a .com. The company also created the first online interactive tools and calculators, and revolutionized the entire relocation industry. GMS continues to set the industry pace as the pioneer in innovation and technology solutions with its proprietary MyRelocation™ technology platform.

Contact our experts online to discuss your company’s relocation program needs, or give us a call at 800.617.1904 or 480.922.0700 today.

Request your complimentary relocation policy review

Categories
Global Relocation Global Relocation Challenges Global Relocation Trends Immigration Rules Visas and International Travel

Job Openings in the United Kingdom Rise as European Union Workers Depart

The United Kingdom (UK) has seen UK job openings rise over the past 12 months. This is due in part to European Union (EU) nationals who are leaving the UK and choosing to return to their native country. Some EU nationals note the BREXIT issue as a significant concern relating to their decision.

With over 132,000 EU nationals departing the UK, many companies and organizations face significant challenges as they work to find new hires. This trend adds to the large number of job vacancies in the UK, the highest since 2001 and a new record, according to the UK’s Office for National Statistics.

Where are the UK job openings?

UK job openings can be found throughout the country, but some regions have openings at far higher rates than other regions. Job seekers looking for opportunities in the UK should consider which region might offer the greatest number of vacancies.

UK job openings by region that are above the national average:

  • London
  • North West UK
  • Wales

UK job openings by region that are below the national average:

  • Scotland
  • Northern Ireland

What are the jobs with the highest demand in the UK?

Demand may vary by region and by job type. For financial sector jobs, London and the South West have the highest number of UK job openings. By comparison, social workers and nurses are more in demand in the North West.

What are the Best Cities to find UK Job Openings?

The UK has several cities with thriving economies. Those looking for UK job openings should review cities where their particular skills and education may be in higher demand. This may help them find viable opportunities more quickly than if they target cities with less demand. Several online resources are available to help job seekers research UK job openings.

What does this mean?

Changing dynamics in the UK economy due to BREXIT, economic growth, financial markets, inflation in UK consumer prices, severe weather patterns, and many other factors continually create new UK job openings. Companies in the UK often must manage several openings, searching for new hires and transferees with skills and education. These employees will help them meet growth targets and corporate objectives. As a result, job seekers often have many opportunities with the UK to find employment.

What should employers expect?

Employers should expect that UK job openings will continue to increase as EU nationals leave the country. They should also expect continuing impacts from changing dynamics in the UK economy, including UK consumer confidence changes and UK housing market issues.

What should employers do?

Employers in the UK should review their company’s growth plans and requirements for jobs across all levels. They should determine how their company’s growth plans will impact the jobs required to meet business plans and goals. They must also consider how their plans should adapt to the changing dynamics of the UK economy.

Employers in the UK should also examine their relocation policies to determine if they would benefit from enhancements to attract new hires and transferees looking to take jobs in the UK. They may also benefit by learning how other markets, such as healthcare, have been leveraging relocation benefits to attract and retain talent.

Conclusion

GMS’ team of global relocation experts has helped thousands of our clients develop relocation programs that attract and retain qualified employees across the world. Our team can help your company determine how to fill UK job openings with new hires and transferees who possess superior skills and experience.

Learn best practices from Global Mobility Solutions, the relocation industry and technology experts who are dedicated to keeping you informed and connected. Contact our experts online to discuss your company’s relocation program needs, or give us a call at 800.617.1904 or 480.922.0700 today.

Request your complimentary Visa Program Assessment

Categories
Global Relocation Global Relocation Challenges Global Relocation Tips Global Relocation Trends Relocation Challenges Talent Mobility Visas and International Travel

Brexit Impacts Job Seekers from the European Union

European Union flag and map

The United Kingdom’s (UK) upcoming Brexit impacts the labor market in many ways. As a result, job seekers from the European Union (EU) may be responding to the uncertainty and the upcoming departure from the EU by reducing their search for positions in the UK. Net long-term migration to the UK from the EU fell in July of 2018 to its lowest level in over four years.

Brexit impacts other areas as well, and may be related to persistent weakness in the British pound relative to other European currencies since 2015. Consequently, a weaker UK currency reduces migrant’s purchasing power back in their home countries.

UK Net Migration Target

The UK government had set a target in 2010 to reduce net migration, however that target has never been met. Part of the failure was due to migration into the UK from countries located outside the EU, including (in alphabetical order):

  • Australia
  • Bangladesh
  • Canada
  • India
  • Jamaica
  • Kenya
  • Pakistan
  • South Africa
  • United States

How Brexit impacts job seekers may actually help the UK government reduce net migration into the country. The reduction, however, could have negative impacts in other areas.

Impact of Net Migration Reduction on Industry

The various ways that Brexit impacts job seekers may disproportionately affect certain industries in the UK. As a result, construction and health care are most at risk as job seekers reduce their willingness to migrate to the UK. These two industries rely heavily on migrants to fill open positions. The UK’s strong economy as well as its changing demographics had been driving up demand for workers in these two industries. Additionally, changing economic conditions in migrant’s home countries such as Romania, Poland, and Ireland may allow them greater opportunities to remain in their country of origin. These changing economies may allow them to find jobs that offer sufficient pay and benefits for their needs.

What Should Employers Expect?

Employers seeking to fill positions in the UK should expect that Brexit impacts job seekers from the EU. They should also expect that they may need to review their talent recruitment program to attract job seekers from other regions as the global economy dynamically changes where migrants seek new jobs.

What Should Employers do?

Employers in the UK finding difficulties in hiring and recruiting for positions in specific industries should consider highlighting their relocation program’s benefits in their recruiting materials. Talent shortages can be mitigated with global relocation. Helpful tips for employers facing talent shortages include:

  1. Provide an Exceptional Candidate Experience
  2. Use Data to Enhance Recruiting Efforts
  3. Recruit for Cultural Fit to Your Organization
  4. Create a Superior Employer Brand
  5. Speed the Process to Keep Candidates Engaged

Relocation Management Companies (RMCs) can provide expert assistance to employers in the UK looking to enhance their company’s global candidate recruitment and relocation.

Conclusion

Global Mobility Solutions’ team of global relocation experts has helped thousands of our clients with their talent recruitment programs. As a result, we can help your company understand how Brexit impacts your company’s talent recruitment processes. We can also help your company leverage its relocation program to attract and retain highly skilled and talented job seekers.

Learn how your company can benefit from highlighting your relocation program to job seekers from Global Mobility Solutions, the relocation industry and technology experts who are dedicated to keeping you informed and connected. Contact our experts online or give us a call at 800.617.1904 or 480.922.0700 today.

Request your complimentary relocation policy review

Categories
Buy a Home Home Purchase

Why Home Sellers Should Consider Placing Their Home on the Market During Winter

happy family against a country housebeautiful family against the background of the house

Some home sellers have a lot of flexibility when it comes to selling their home. As a result, they may be able to choose to place their home on the market during a season they believe is best. A common notion is that spring is the best season for home sales. But is this notion always true, in all locations? And if not, what other season might be best for home sales?

3 Reasons Why Late Spring/Early Summer is a Good Season for Home Sellers

There are several reasons why late spring/early summer is a good season for home sales:

  1. Buyers tend to come out in larger numbers after winter
  2. Families with children prefer to move when school is not in session
  3. Homes with extensive landscaping tend to have more curb appeal during spring and summer

Many home buyers in areas that have four seasons prefer to look for homes when the weather is nice. It’s a great time for buyers to get outside, after hibernating during much of winter to avoid snow and cold weather. Many home buyers use spring and summer as seasons to see what is new in nearby homes and gain ideas on how to spruce up their own home. Also, buyers with children understand they need to finalize contracts and be ready to move soon after the school year ends, usually in May or June.

3 Reasons Why Late Spring/Early Summer is Not a Good Season for Home Sellers

Just as there are several reasons why late spring/early summer is a good season for home sales, there are also several reasons why it is not:

  1. There is more competition from other homes on the market
  2. Home sellers with average homes have more difficulty capturing buyer’s attention
  3. More buyers tend to look at days on market as an indicator of home desirability

Just as some buyers prefer to venture outside after a long cold winter, so too do many other buyers. Greater competition often helps create a stronger position for home sellers, who benefit when buyers compete for their home. Insufficient levels of affordable homes in several markets, strong competition, and rising prices result in many buyers sitting out the late spring/early summer season. Also, many home buyers in late spring/early summer have no specific timeline and want to visit many homes at a leisurely pace.

5 Reasons Why Winter is a Good Season for Home Sellers

While late spring/early summer has both good points and bad points for home sellers, winter offers several distinct benefits:

  1. Winter home buyers are serious buyers
  2. Determining a realistic listing price is easier
  3. Serious buyers are less concerned about days on market in winter
  4. If you need to buy as well, you have less competitors to beat for your next home
  5. Spring will soon bring more buyers

Buyers in winter often tend to have specific needs and timelines driving their search. This means they are serious buyers, and not just a typical late spring/early summer home tourist. Home sellers can be assured that buyers truly want to purchase in the near term. Often these buyers are relocating to take a new job or to transfer with their current company.

Listing prices tend to better reflect actual market demand during winter. Some home sellers may inflate their listing price in late spring/early summer to test the waters for a higher price. By comparison, winter prices tend to be set to draw serious buyers with specific knowledge about the area, location, amenities, and comparable home prices. Buyers are less concerned with days on market than they are about the home’s features.

Winter home sellers whose home has not yet sold will benefit from the rapidly approaching spring season. As long as their home is still staged for buyers, they are perfectly poised for buyers venturing outdoors during spring.

What Should Home Sellers do During Winter?

Home sellers should consider placing their home on the market during winter. Those able to do so benefit from serious buyers, less competition, and the ability to have their home staged to sell early in spring if it has not yet sold. Also, some markets exhibit stronger buying patterns during winter. For example, Scottsdale, Arizona home sellers have been experiencing their best market during November for both lowest number of days on market and best selling price. Mortgage brokers also tend to be less busy during winter months. As a result, homes are able to move to close at a faster pace.

Conclusion

Global Mobility Solutions’ team of corporate relocation experts has helped thousands of our clients and their transferees with their real estate needs when it comes to relocation. We can help your company understand how to obtain the best advantage during the winter home sellers’ market, whether selling a home as part of a relocation, or buying a home in a new location.

GMS was the first relocation company to register as a .com. The company also created the first online interactive tools and calculators, and revolutionized the entire relocation industry. GMS continues to set the industry pace as the pioneer in innovation and technology solutions with its proprietary MyRelocation® technology platform.

Learn best practices from Global Mobility Solutions, the relocation industry and technology experts who are dedicated to keeping you informed and connected. Contact our experts online or give us a call at 800.617.1904 or 480.922.0700 today.

Request your complimentary relocation policy review

Other Services

Our Technology

Global Relocation

Group Moves

U.S. & Canadian Relocation

About

About Us

Careers

GMS Client Login

Privacy Policy

 

Contact

Contact Us

Address

Global Mobility Solutions
15333 N. Pima Road
Scottsdale AZ, 85260

1.800.617.1904 

Available 24/7/365

About

Contact Us

About Us

GMS Client Login

Privacy Policy

Other Services

Our Technology

Global Relocation

Group Moves

U.S. & Canadian Relocation

Address

Global Mobility Solutions
15333 N. Pima Road
Scottsdale AZ, 85260

1.800.617.1904
Available 24/7/365

About

Contact Us

About Us

GMS Client Login

Privacy Policy

Address

Global Mobility Solutions
15333 N. Pima Road
Scottsdale AZ, 85260

1.800.617.1904
Available 24/7/365

Accessibility by WAH

Looking for something?