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What are the BVO Program Benefits?

Happy African American family with two young children (4-5 years) waving in front of house with 'Sold' sign.

Many companies understand they can save money with the GMS Buyer Value Option (BVO) program. However, they are not sure of the other BVO program benefits. There are several benefits for clients beyond saving money. Reviewing the process will highlight several BVO program benefits for clients.

BVO Program Benefits #1: Cost Savings to the Client

A form of tax assistance known as tax gross-up helps offset the tax impact felt by transferees who receive reimbursements. This gross-up expense can add substantial costs, especially if a home sale generates reimbursement requests.

The GMS Buyer Value Option program avoids the costly process of “grossing up” dollars used to pay for the commissions and closing costs on the sale of a transferee’s home.

BVO Program Benefits #2: Risk Reductions for the Client

The home sale process carries some inherent risks. Importantly, the Internal Revenue Service requires putting the client at risk of owning the home in order to receive the tax benefit. If the home buyer does not proceed through to the closing and purchase the home, the client will be financially responsible until a new buyer is found.

Generally, the industry average of properties falling through during the sale process is up to 1.5%. However, GMS’ average over the past three years is less than 0.5%. As a result, clients that utilize the GMS Buyer Value Option program avoid risks of properties falling through prior to closing.

BVO Program Benefits #3: Time Savings for the Transferee

Transferees who participate in the GMS Buyer Value Option program are freed from the responsibility to attend the closing for their home sale. Transferees gain the freedom to focus on their new location and job responsibilities from the moment they leave their home.

Acclimating to a new location can take as long as three months to one year. Not having to arrange a home sale or return for a closing lets transferees and their families settle in to life at their new location and gives them peace of mind. Time savings are valuable BVO program benefits that help the transferee and their family members. Clients also benefit, as the transferee can give full attention to their new position.

What Should Companies With a Home Sale Program Do?

Companies that currently reimburse employees for the commission and closing costs on their home sale should look into the GMS Buyer Value Option program. Home sale expenses are the only remaining tax-protected relocation benefit when a company utilizes the GMS Buyer Value Option program. Companies can save the tax gross up on the reimbursement, and gain additional BVO program benefits including:

  • No need for the employee to be at the closing of their home sale
  • No return trips necessary to attend the closing if your employee is already at the new destination
  • The employee can more quickly adapt to their new role and become an effective member of the team

Conclusion

GMS’ team of corporate relocation experts has helped thousands of our clients develop their home sale and Buyer Value Option program. Our team can help your company understand how to gain access to all of the BVO program benefits.

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.

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.

Contact our experts online to learn more about the BVO program benefits, or give us a call at 800.617.1904 or 480.922.0700 today.

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Buy a Home Domestic Relocation Domestic Relocation Tips Domestic Relocation Trends Home Purchase Job Market Job Seekers Labor Force Talent Mobility United States Economy

Choose Topeka Incentives Aim to Draw New Residents to Kansas

The Kansas state capitol building is located in downtown Topeka on land donated by the Atchison, Topeka and Santa Fe Railroad company. Construction began in 1866 and was officially completed 37 years later in 1903 at a total cost of just over 3.2 million dollars. The building is over 300 feet tall and is 17 feet taller than the U.S. Capitol building in Washington D.C.

Choose Topeka is a new incentive program that will draw new residents to Topeka and Shawnee County, Kansas. The program begins in 2020 with a public launch and full promotion. The incentives are performance based. As a result, new residents will become eligible after residing in the community for one year.

The program arose from a partnership between GO Topeka and local Topeka businesses. Over the past year, organizers have been working to develop the program and marketing materials to reach a wide audience. GO Topeka focuses on creating economic opportunities and growing the local business climate. The Joint Economic Development Organization has an agreement for services with GO Topeka. Both organizations are working together on the Choose Topeka incentive program.

What are the Eligibility Requirements for Choose Topeka?

The Choose Topeka incentive program is to help draw employees to work at local businesses. Therefore, the eligibility requirements center on meeting the needs of local employers and full-time positions:

  1. Participants must be eligible to work in the US
  2. Program requires participants to move to Topeka for a full-time position
  3. Employers must participate in the program for participants to receive matching funds
  4. Participants must purchase or rent a home in Shawnee County within a year of their hire and move to the area

What are the Benefits for Participants in Choose Topeka?

The benefits for participants in Choose Topeka are generous, and apply to both the participant as well as to the employer.

Participant Benefits

Up to $15,000 in funds in Year 1

  • Renting: $10,000
  • Home Purchase: $15,000

Source of funds: GO Topeka/Joint Economic Development Organization (JEDO) and Employer, match at 50%

Employer Benefits

  • Employer fully funds $10,000 up to $15,000 with employee transfer
  • After Year 1, GO Topeka/JEDO reimburse up to $5,000 ($10K) or $7,500 ($15K) to employer for employee retention

The Choose Topeka incentives are based on performance. Employees must move to the community and reside for at least one full year before becoming eligible. Only primary residences are eligible for the incentives. The incentives may be used for all expenses related to moving.

What is the Goal of Choose Topeka?

The goal of Choose Topeka is to draw up to 60 new residents and their families to the city. Employers will gain new workers with requisite skills. Also, several industries will receive economic benefits as the new residents move in and purchase locally.

GO Topeka estimates the total local economic impact of the Choose Topeka incentives to be:

  • Over $2.14 million/Year 1
  • Up to $11.38 million/By Year 5

What Should Employers do About Choose Topeka?

Companies in Topeka and the surrounding Shawnee County area that have growth initiatives may be able to leverage the Choose Topeka incentives in their talent acquisition and relocation programs. Companies should examine their plans for corporate expansion. They should also consider participating in the Choose Topeka incentive program to gain the matching funds provided by GO Topeka/JEDO.

Many other US locations offer similar moving incentives. As a result, companies should leverage GO Topeka’s 2020 marketing and promotional efforts for the Choose Topeka incentive program into their employee recruitment efforts.

Conclusion

GMS’ team of domestic relocation experts has helped thousands of our clients understand how to leverage moving incentives such as those in the new Choose Topeka program to attract and retain talent. Our team can help your company by using industry best practices to design your relocation program. This will increase your company’s ability to hire and retain new employees.

GMS was the first relocation company to register as a .com, 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.

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.

Contact our experts online to discuss your company’s interest in learning how it can leverage the Choose Topeka moving incentives to attract and retain talent, 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.

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Buy a Home Domestic Relocation Domestic Relocation Tips Domestic Relocation Trends Home Purchase United States Economy

Winter Home Sellers More Likely to Find Serious Buyers

When it comes to the best season for home sales, winter home sellers are more likely to find serious buyers. Most people commonly believe spring is the most ideal season for home sales. As a result, sellers often wait until spring arrives to consider listing their home for sale.

Home sales during summer and fall lead to a reduction in market inventory. Sellers who wait for spring to place their home on the market further reduce the number of homes for sale in the winter months. As a result, winter home sellers gain a clear advantage. Less homes on the market allows their home to have greater visibility among serious buyers.

5 Specific Advantages for Winter Home Sellers

Beyond less competition from other homes, there are 5 specific advantages for winter home sellers:

1. Buyers in winter are serious buyers

Many people enjoy winter for its snow-filled beauty and wide range of outdoor sports such as ice skating, skiing, and sledding. However the season is also known for several major holidays, unpredictable and sometimes caution-producing weather, travel, and year-end work commitments. Only serious buyers would be looking for a home during this season. Buyers who make an appointment to see your home are not window shopping for homes as spring buyers often do. Rather, they are specifically interested in your home and its amenities. Winter home sellers can be assured that buyers truly want to purchase in the near term. Many times these serious buyers are relocating to take a new job or transferring to a new location with their current company.

2. Days on the market are less of a concern to serious buyers

Some home buyers use the number of days a home is on the market as an indicator. This indicator could mean any of several things, such as:

  • Condition of the home and property is not comparable
  • Location of the home is not desirable
  • Pricing compared to other homes on the market is not consistent
  • Seller does not have motivation to sell or is hard to work with

However, days on market is less concerning to serious buyers in winter. For example, winter home sellers whose home has been on the market since fall may benefit from buyer’s interest in working with sellers who are fully intending to sell.

3. Realistic decisions on pricing are easier to make during winter

Winter home sellers have an advantage when listing their home. Comparable homes on the market since the summer and fall seasons provide an excellent guide for realistic pricing. These home sellers often have adjusted their pricing to be consistent with or slightly below recent sales. This in turn will help them attract the right buyers looking for homes like theirs. Realistic pricing decisions for winter home sellers are easy to make by reviewing comparable homes.

4. Sellers who need to buy face less competition as they search for their new home

While buyers are searching for homes, winter home sellers gain from having less inventory for their home to compete with. At the same time, if those sellers need to buy a home, they also benefit from having less buyers to compete with. Sellers who must also buy have an advantage since winter holds down excess competition from other buyers. If they are the only ones looking at a specific home, chances are good that their offer will be taken seriously.

5. Spring season is just around the corner, just in case more buyers are needed

Some winter home sellers may not sell their home before spring arrives. The arrival of spring usually brings many more buyers into the market, including more families with children who want to plan moves during the summer. More buyers coming into the market means there will be more views of the home listing and perhaps more visits to the home. Winter home sellers may be seen as especially motivated to sell. As a result, homes should be freshened for the new season, and pricing should be reviewed to determine if it is still comparable or if adjustments must be made.

What Should Winter Home Sellers do?

Winter home sellers should consider placing their home on the market. Those who are able to do so benefit from serious buyers, less competition, and the ability to have their home ready to sell early in spring if they have not yet sold. Something to keep in mind is that a few markets exhibit stronger buying patterns during the winter season. Scottsdale, Arizona winter home sellers often experience the best home sale outcome by listing their home for sale in January.

Conclusion

Global Mobility Solutions’ team of corporate relocation experts has helped thousands of our clients and their transferees with real estate needs when it comes to relocation. We can help your company understand how to obtain the best advantage for home sales and purchases, whether selling a home during winter as part of a relocation by leveraging the GMS Buyer Value Option (BVO) program, or buying from winter home sellers 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.

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 for winter home sellers 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.

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Buy a Home Domestic Relocation Domestic Relocation Challenges Domestic Relocation Tips Home Purchase Household Goods Relocation Challenges

What do Relocating Employees Moving with Children Need to Know?

Many relocating employees who are looking for a home are moving with children. According to the United States Department of Labor Bureau of Labor Statistics, over 33.6 million US families include children under the age of 18. Transferees are more likely to have a successful relocation if spouses, partners, and family members also support the decision.

What is Important for Families Moving with Children?

The National Association of Realtors® Research Group published a new report, “2019 Moving with Kids.” As a result, the findings show that among families moving with children:

  • 50% consider a neighborhood’s distance to neighborhood schools
  • 53% consider a neighborhoods’ school district quality
  • 86% purchase their home with assistance from a real estate agent

Therefore, relocating employees moving with children are likely to have these same considerations. As a result, companies should provide Pre-Decision Services for transferees to help them learn about their new relocation assignment.

Pre-Decision Services for Relocating Employees Moving with Children

Candidate assessments and family pre-decision evaluations help companies determine the relocating employee’s expectations about their new role and their level of skills. These assessments also highlight the candidate’s personal qualities, their family situation, and their financial readiness for the relocation. Specific points that are important to all family members including children should be part of this pre-decision evaluation.

The types of information that companies can provide to transferees moving with children for their decision-making process include:

  • Community highlights and detailed information for the local area
  • Tours of communities to help employees and family members become familiar with the area
  • School information and reports on schooling options
  • Cost estimates to cover all aspects of the household goods moves.
  • Comparison of the cost of living in the new location
  • Home sale information including market analysis

By providing helpful information, the organization gains several benefits including:

  • Higher job acceptance rates, satisfaction, and engagement
  • Greater budget accuracy
  • A reduction in policy exceptions
  • Significant cost savings

Also, employees and their family members gain several benefits as well:

  • Dedicated consultant as their point of contact
  • Expert counsel and assistance for all of their relocation process
  • Career and other support services for spouses and partners

What are the Questions a Realtor® asks Relocating Employees?

As noted in the NAR report, relocating employees moving with children are likely to work with a real estate agent for their home buying process. Transferees who work with a Realtor® should be ready to answer questions that will help guide the search for their new home. Some of the top questions a Realtor® asks relocating employees moving with children focus on what is most important to their home decision. Knowing that children are part of the family helps the Realtor® understand important questions to ask. The answers will provide the Realtor® with valuable insight as to the buyer’s objectives, including those of their children.

Tips to Help Relocating Employees Moving with Children Prepare for the Move

Relocating employees moving with children should prepare them for the move. An important part of this preparation is communication. Engage children early, and share as much about the move and the new location with them as possible. This will help ease the children’s minds, and help them feel important to the process. Consider giving them things to do to help them participate in the move if they are able and willing. Activities such as helping unpack, choosing colors, and deciding where their things should go are important to them. As a result, this will give children a sense of ownership and belonging. Help children learn how to meet people in their new surroundings by practicing conversation. Also, teaching games that other children play in their new school will help them build skills and expand their social network.

What Should Employers do For Relocating Employees Moving with Children?

It is important for employers with relocating employees moving with children to be sure to include the entire family in the relocation process. Pre-Decision Services should have full family participation so every member can feel they are an important part of the process. Family support is critical to the success of relocations. In our Case Study on Educational Institution Relocation Programs, we describe how our client was losing new hires due to a lack of spouse and partner career support.

The rise in demand for spouse and partner assistance shows how important family concerns are to transferees. Relocating employees moving with children often will also be moving with pets. Companies that also show consideration for the needs of a family’s pets will demonstrate their commitment to the employee and their family’s welfare.

Conclusion

Global Mobility Solutions’ team of corporate relocation experts has helped thousands of our clients understand how best to help relocating employees moving with children. Our team can help your company understand how to use family pre-decision services to identify matters of importance to all family members. As a result this will help ensure a smooth and success relocation process for the transferee and their family members.

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.

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 to discuss how your company can enhance the relocation experience for employees moving with children, 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.

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Buy a Home Domestic Relocation Domestic Relocation Challenges Domestic Relocation Tips Home Purchase

Los Angeles Housing Options for Relocating Employees: Part 2, Single Family Homes

In part 2 of our series on Los Angeles Housing Options for relocating employees, we focus on single family homes. For transferees moving to Los Angeles, there are many advantages to buying a single family home as opposed to renting. While there are many housing options including condominiums and apartments, those who buy single family homes often enjoy significant benefits compared to renting.

Advantages to Buying Single Family Homes in Los Angeles

Rents in some markets exceed the cost of home ownership, so buyers can save money each month if they buy instead of rent. Also, mortgages are similar to savings plans and investments, and buyers often gain equity in the home. Buying single family homes may help transferees move up to larger homes at a later date. Transferees looking at buying single family homes will gain the most compared to renting if they plan to live in the home more than seven years. The ability to claim home mortgage interest as a deduction is a major benefit to owning single family homes with a mortgage less than a million dollars.  Employees should consult their tax advisor.

Companies should encourage transferees to buy instead of rent, in order to help them establish roots in their community. Relocating employees will be more likely to view their opportunity as a career if they commit to their new location. Companies that offer home purchase benefits are more likely to be seen as committed to the transferee. They can also save money with the Buyer Value Option Program to avoid paying tax gross-ups on commissions and closing costs.

Los Angeles Single Family Homes

Highlights of Los Angeles Neighborhoods with Single Family Homes

Los Angeles has hundreds of neighborhoods and districts. Choosing where to buy single family homes can be a daunting task. Many helpful resources are available to help home buyers learn about the history and features of locations in and around the city. If a home buyer has a few general ideas of what they are seeking, chances are they will be able to find it in Los Angeles.

Comparison of five different neighborhoods:

Santa Monica and Venice Beach: Close to the beach, thriving restaurant scene, weather about 10 degrees cooler than in the city, and the funky Venice Beach Boardwalk with street performers and public art.

Hollywood: One of the most famous neighborhoods in the world, with iconic locations like TCL Chinese Theatre, star-studded Walk of Fame, the capital of the entertainment industry, and the huge Hollywood sign on the hills above so you always know where you are.

Elysian Valley, also known as Frogtown: An up-and-coming spot along the Los Angeles River and its Bike Path, home to artists, manufacturers, several warehouses, and innovative entrepreneurs.

Beverly Hills: Featuring legendary Rodeo Drive shopping, ultra-luxury glamour, exemplary of the Los Angeles dream of making it big in the entertainment industry.

Silver Lake: East-side trendy spot with green spaces, the Silver Lake Reservoir and Dog Park for recreation, hipster-friendly lifestyle, and famous Sunset Boulevard.

What You Should Know About Buying Single Family Homes in Los Angeles

Los Angeles neighborhoods have much to offer residents and visitors. Transferees looking to buy single family homes should work with a Realtor®. A qualified local Realtor® will have knowledge of the city and the market for single family homes.

GMS spoke with Erik R. Brown of Douglas Elliman Real Estate, Realtor®, TV host, speaker, and author of “One in a Million: Everything You Need to Know to Find the Best Realtor®.” Erik agreed to share his industry knowledge and market expertise on Los Angeles housing options for relocating employees.

Erik notes that Los Angeles is enjoying a strong seller’s market right now, so what is a potential buyer to do? In part 2 of a 3 part series, Erik shares his 9 tips and ideas for buying single family homes in Los Angeles.

Los Angeles Housing Options: Single Family Homes

9 Tips and Ideas for Buying Single Family Homes in Los Angeles

1. Know What You Want

Know what you want before you start looking. What you want (and where you want to live) will play a huge role in the cost as well. Beyond the type of home, decide on what features you want, from the home style to the neighborhood. If you have non-negotiables, identify those from the beginning.

2. Be Realistic

Related to the tip above, you do need to be realistic. Tons of square footage, updated fixtures, and a pool might not be realistic in your budget. Or, you might need to broaden where you are looking to find single family homes that fit into your budget. The first home you purchase in Los Angeles might not be your dream home, but buying any home in Los Angeles is a big deal, given the high cost and competitive market.

3. Obtain Pre-Approval for a Mortgage

Before you even go look at a house, get your finances in order. Decide on your budget, how much you can put down, and obtain pre-approval for a mortgage. A pre-approval doesn’t guarantee that you will get the mortgage. However, it does mean that the bank determines that you are a good borrower. As a result, they will make a commitment to finance your home once you find one. In a market as competitive as Los Angeles, there is a good chance that sellers won’t even consider an offer if a buyer can’t provide a pre-approval letter from their lender.

4. Offer Cash

If you want to sweeten your offer, you should make a cash offer. A cash offer is more attractive to a seller because they don’t have to worry about dealing with your mortgage lender or appraisals. Cash offers can usually close quicker as well, making it much more likely that a seller will choose a cash offer over one where the buyer is financing the home purchase.

5. Shop Around and Have Options

Because the market is so competitive, single family homes aren’t on the market very long. As a result, you have to be ready to put in a bid right away. You will also want to make sure you have backup choices. Bidding wars are becoming more and more common, so you can’t assume that you are going to get the house. Make sure you have other single family homes that you like in the event that your bid is not selected.

6. Personal Enjoyment versus Investment

A buyer may also consider an area that fits their lifestyle versus an area that is gentrifying or improving. Gentrifying areas can be on the rise, but may not have all the established amenities of a more established neighborhood or area. However, this is often reflected in the price of the homes.

7. Consider a Fixer-Upper

If you are really tied to a certain location but can’t find an updated home with everything you want, consider buying a fixer-upper and put in the work to get it to what you want. This is a great way to get a home in a pricier neighborhood and give you a home that has what you want by building or renovating. Envision what a dated or non-updated home could look like with your updates, rather than focusing on what they look like currently.

8. Compromise on the Area

If you want a home less than $1 million in Los Angeles, you might have to look outside of the more upscale neighborhoods. You can explore outside of the greater Los Angeles area, but still stay in Los Angeles County, and find single family homes for much less money. The median home price in Los Angeles County is around $600,000, making it more affordable for you if you are willing to be flexible. Outlying communities still give you a close proximity to the city, but at a much lower cost.

9. The Bottom Line

Buying single family homes in Los Angeles requires you to do some work ahead of time. You need to get your finances in order. You will also need patience, and the ability to move quickly if you find a home that you like. With the right Realtor® helping you navigate the real estate market, you can make it out of the process with your sanity intact.

What Should Employers do?

Employers should share helpful information about single family homes in Los Angeles with their relocating employees. This will help transferees and their family members learn about the housing market in the city. As a result, relocating employees will have valuable information to help them easily find single family homes that meet their requirements.

Employers should also provide as much information about the new location as possible. They should work with a qualified and experienced Relocation Management Company (RMC) that can provide many useful resources to assist relocating employees and their family members. Destination spotlights that highlight many aspects of a location are helpful reference materials to share with transferees during their pre-decision process. Video destination spotlights are a great resource to visually show employees and their family members their new location in Los Angeles.

Conclusion

Global Mobility Solutions’ team of corporate relocation experts has helped thousands of our clients understand how to identify and share valuable real estate and neighborhood information with transferees. Our team can help your company share helpful information on single family homes in Los Angeles that will give transferees peace of mind as they go through their relocation process.

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.

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. GMS is dedicated to keeping you informed and connected. Contact our experts online to discuss your company’s need for information about single family homes in Los Angeles to share with your transferees, or give us a call at 800.617.1904 or 480.922.0700 today.

Request your complimentary relocation policy review

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Buy a Home Domestic Relocation Domestic Relocation Challenges Domestic Relocation Tips Household Goods

Van Line Survey Notes Several Transferee Moving Challenges

man smiling while moving boxes into his new home
Portrait of a young man carrying a box while moving house

Allied Van Lines conducts a regular “On the Move” survey of employees who move for work to determine the transferee moving challenges from their viewpoint. Survey responses from over 1,000 people provide helpful insight into the impact of workforce relocation. The findings reveal specific points that companies should address in their relocation programs.

The Top 3 transferee moving challenges identified in the survey show points companies should address to improve employee retention and satisfaction. Companies should choose to work with a qualified Relocation Management Company (RMC). RMCs have knowledge and experience to help clients design robust relocation programs that provide the best relocation experience for transferees.

What are the Top 3 Transferee Moving Challenges?

1. Short Timeframes for Moves

The majority of survey respondents were given 0 to 30 days for their move, and the next largest group were given 31 to 60 days. Increasing market competition and evolving dynamics require corporate speed and flexibility. Companies often must act quickly to hire qualified staff and move them to where they can be the most productive.

RMCs have resources and solutions to help companies maintain responsiveness while providing a positive relocation experience for employees. Transferee moving challenges related to short timeframes can be addressed with a robust relocation policy that is designed to provide solutions that benefit both clients and relocating employees.

2. Finding a New Home

One of the most difficult and time-consuming transferee moving challenges is finding a home in the new location. Choices can vary, and may include some of the following:

  1. Short-term corporate housing
  2. Renting before buying
  3. City/suburb/neighborhood location
  4. Apartment
  5. Condominium
  6. House
  7. New construction loan for relocation

RMCs have a number of solutions for transferee moving challenges related to finding a new home. Many transferees are relocating to a new location they know very little about, and will then search for a new home to purchase. A Realtor® working with the RMC should ask a number of questions to help the transferee clarify and express their preferences and interests.

3. Making Friends in the New Location

Transferee moving challenges are often amplified by the effects of the move on spouses and family members. While the transferee may have a built-in network of work colleagues in the new location to help them with their transition at work, they and their family will need to settle into the new community and make new friends.

One of the first challenges a transferee faces is career support for their spouse. Successful relocations often hinge on the spouse or partner’s career needs also being addressed. Transferees expect career support for spouses and partners as part of their relocation experience. In our Case Study on Educational Institution Relocation Programs, GMS helped a client learn that their biggest challenge in retaining new hires was due to not having career support for spouses and partners moving to the new location.

Pre-Decision Services Help Transferees

Companies should provide Pre-Decision Services in their relocation policy for transferees to help them learn about their new location. Candidate assessments and family pre-decision evaluations help companies determine the employee’s expectations, skills, personal qualities, family situation, and their financial readiness for the relocation. Helpful information an RMC can provide to the employee and their family for their decision-making process includes:

  • Cost of living analysis for the new area
  • Market analysis for home sales
  • School reports and information about activities
  • Moving cost estimates
  • Community tours to help familiarize employees and their family members with the new location

Provide Support for Spouses, Partners, and Family Members

Family member support is as critical to a transferee’s relocation success as to career support for spouses and partners. RMCs should provide a number of resources to help families settle in to their new area and reduce transferee moving challenges, including:

  • Helpful online resources for families to learn about local amenities
  • Community networks in the new location
  • Assistance in obtaining a local driver’s license
  • Arrangements for child care
  • Utility connections and installations
  • Ensuring health insurance coverage during the interim period
  • Identifying nearby medical resources and primary care physicians

What Should Employers do to Address Transferee Moving Challenges?

Transferee moving challenges should be addressed with robust solutions. Companies should work with a qualified and experienced RMC that can help them design a relocation policy that promotes successful relocations. The career needs of spouses and partners should be included in the transferee’s relocation experience. Family support is also critical to reduce any disruption from the move and provide peace of mind for the transferee, their spouse or partner, and their family members.

Conclusion

GMS’ team of corporate relocation experts has helped thousands of our clients develop relocation policies and programs that address transferee moving challenges. Our team can help your company determine how to design a robust relocation program that provides the best relocation experience for your company’s transferees and their family members.

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.

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.

Contact our experts online to discuss your company’s relocation program and the need to reduce transferee moving challenges, 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

Los Angeles Housing Options for Relocating Employees: Part 1, Condominiums

Many of Global Mobility Solutions’ clients want to know about the Los Angeles housing options for their relocating employees. Los Angeles is a top destination for relocations. The city is also large in size as well as population, so knowing Los Angeles housing options is a priority for transferees and their families.

Los Angeles Facts

  • City limits consist of 469 square miles
  • Population is approximately 4 million residents
  • Density of population is around 8,500 people per square mile
  • Los Angeles Metropolitan Area population is approximately 13 million residents
  • The city is part of the “Southland” region with an estimated population of 18 million residents

Highlights of Los Angeles

Economy

Los Angeles is one of the most substantial economic engines within the US, with a diverse economy in a broad range of professional and cultural fields. A global city, it has been ranked 6th in the Global Cities Index and 9th in the Global Economic Power Index. The Los Angeles combined statistical area also has a gross domestic product of $881 billion (as of 2017).

Film and Television Industry

Los Angeles is the center of the nation’s film and television industry. Near its iconic Hollywood sign, studios such as Paramount Pictures, Universal, and Warner Brothers offer behind-the-scenes tours. On Hollywood Boulevard, TCL Chinese Theatre displays the handprints and footprints of famous celebrities, the Walk of Fame honors thousands of luminaries, and vendors sell maps to the homes of movie stars.

Lifestyle

Santa Monica, located west of downtown, has beautiful beaches and a vibrant nightlife. The beach is fringed by Palisades Park, with views over the Pacific Ocean. Santa Monica Pier is home to the Pacific Park amusement park, historic Looff Hippodrome Carousel, and Santa Monica Pier Aquarium. Hollywood, the home of the film industry, has music venues like the Hollywood Bowl, and Dolby Theatre, home of the Oscars.

Downtown Los Angeles has a number of excellent restaurants, museums, concert venues, sports arenas, and five-star hotels. Local favorite destinations include the Getty Center, The Grove, Griffith Park, and Olvera Street. Los Angeles was home to the Olympic Games in 1932 and 1984. It will host the Olympic Games a third time in 2028.

What are the Los Angeles Housing Options?

With all that Los Angeles has to offer, demand for housing is high. The city and the surrounding area offer many choices for housing, depending on location, interests, and preferences. Because the city is so large and diverse, there are a number of Los Angeles housing options for transferees to consider. These options include condominiums, single family houses, and apartments.

GMS spoke with Erik R. Brown of Douglas Elliman Real Estate, Realtor®, TV host, speaker, and author of “One in a Million: Everything You Need to Know to Find the Best Realtor®.” Erik agreed to share his industry knowledge and market expertise on Los Angeles housing options for relocating employees.

In part 1 of a 3 part series, Erik shares his 10 tips for buying a condominium in Los Angeles. Erik has published “Essential Tips to Buying or Selling a Condo in LA,” a helpful guide for relocating employees to learn more about Los Angeles housing options for condominiums.

Los Angeles Housing Options: Condominiums

10 Tips for Buying a Condominium in Los Angeles

  1. Determine whether a condominium is the “right fit” since you will be close to neighbors, maintenance of shared amenities is done for you, and you must comply with association rules and regulations.
  2. Hire a real estate agent who has experience buying and selling condominiums. They will know how to guide relocating employees through the process and ensure important documents are included.
  3. Obtain financing for the purchase. For buyers using a Federal Housing Administration (FHA) loan, they need to confirm the community is on the approved list. FHA usually requires 80% of units in a building to be owner-occupied.
  4. Confirm what the condominium includes, such as reserved parking, storage, and guest parking.
  5. Know how much the association fees will cost each month.
  6. Determine what the association fees include, such as shared expenses for maintenance of amenities, landscaping, and insurance.
  7. Review the association’s rules and regulations, especially with respect to pets, rental restrictions, and quiet hours for the community.
  8. Inquire about any planned special assessments that might be required for projects such as a roof replacement.
  9. Research the maintenance and management company, and determine the appropriate contacts for any issues. The company should be responsive and actively engage in enforcing the rules and regulations.
  10. Think about your future plans, as condominiums typically do not appreciate in value as much as a single family home. If you plan to remain in the condominium for up to ten years, your experience will be different than if you plan to remain only a few years.

What Should Employers do About Los Angeles Housing Options?

Employers should share the Los Angeles housing options with their relocating employees. This will help transferees and their family members learn about the housing market in the city. As a result, relocating employees will have valuable information to help them find housing that works well for their own needs, as well as for family members.

Employers should also provide as much information about the new location as possible. They should work with a qualified and experienced Relocation Management Company (RMC) that can provide many useful resources to assist relocating employees and their family members. Destination spotlights that highlight many aspects of a location are helpful reference materials to share with transferees during their pre-decision process. Video destination spotlights are a great resource to visually show employees and their family members their new location.

Conclusion

Global Mobility Solutions’ team of corporate relocation experts has helped thousands of our clients understand how to identify and share valuable information with transferees. Our team can help your company share helpful information on Los Angeles housing options that will give transferees peace of mind as they go through their relocation process.

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.

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 to discuss your company’s need for Los Angeles housing options to share with your transferees, or give us a call at 800.617.1904 or 480.922.0700 today.

Request your complimentary relocation policy review

Categories
Buy a Home Domestic Relocation Domestic Relocation Trends Job Market Job Seekers Talent Mobility United States Economy

United States Migration Patterns: Where are People Moving To?

United States Migration Patterns: Where are People Moving To?

A recent study by United Van Lines tracking 2018 United States migration patterns shows which states people are moving to.  According to the study, the top 5 states experiencing the highest rates of inbound migration are:

Top 5 States Growing due to United States Migration Patterns

  1. Vermont
  2. Oregon
  3. Idaho
  4. Nevada
  5. Arizona

To understand these patterns, it is best to look at a number of local as well as national trends and how these trends impact each state.

Vermont

Vermont benefits from United States migration patterns impacting employment and jobs. This state has a relatively small population compared to other states. Therefore, significant growth in employment is due mostly to people moving to the state to take new jobs or as a transferee within their company. Vermont industries experiencing exceptional growth include:

  • Renewable and Clean Energy including the highest number of solar jobs per capita in the nation
  • Tourism and Outdoor Recreation including top destinations for skiing, camping, and hiking
  • Food Processing including craft beer, cheeses, and maple products
  • Financial Services and Insurance including #1 ranking in the world for assets under management in captive insurance

Vermont is also well known for its beauty, with mountains, lakes, and four distinct seasons. The state has many pristine areas, and tourism is a significant industry. As a result, retirement is another factor driving United States migration patterns with Vermont as a choice retirement destination.

Oregon

Oregon benefits from United States migration patterns impacting employment and jobs. The state’s economy is one of the fastest-growing in the nation. This is due in part to significant job growth in the manufacturing sector including:

  • Computer and electronic products
  • Machinery
  • Primary metal

Oregon’s landscape includes mountains, lakes, rivers, forests, and waterfalls. The natural areas encourage an outdoor lifestyle, and several state parks are ideally situated for camping, hiking, biking, and boating.

Idaho

Idaho has seen growth from United States migration patterns relating to retirement. More than half of movers into the state were in the age range between 55 an 74 years old. New residents to Idaho gain access to several lifestyle features they could not have in more populated areas, including:

  • Outstanding National Parks
  • Mild climate with four seasons
  • Neighborhood walkability
  • Low cost of living
  • Educational and cultural centers

Idaho has a relatively low estimated population of 1,790,000 residents. Comparing Idaho to other states, population density is 19.8 people per square mile versus the national average of 434.9 people per square mile. New York by comparison has 419.0 people per square mile. Idaho is known for wide open spaces.

Nevada

Nevada benefits from United States migration patterns impacting employment and jobs. Most migration to the state is for people to take a new job. The state’s growth industries include:

  • Tourism including Gaming
  • Clean Energy Initiatives including Solar, Wind, and Geothermal
  • Mining including Gold, Silver, and Lithium
  • Aerospace and Defense including several Air Force Bases
  • Information Technology powered by a strong Digital Infrastructure

With no income tax, low property taxes, and a warm climate, retirees find Nevada a welcoming place. Around half of movers into the state were in the age range between 55 an 74 years old.

Arizona

Arizona benefits from United States migration patterns relating to retirement. Most of the moves to Arizona were for retirement, followed closely by moves for a new job or as a transferee. There are several reasons people choose Arizona for retirement, including:

  • Generally pleasant climate
  • Exceptional natural attractions such as the Grand Canyon
  • Low cost of living
  • Greater number of retirees for social groups
  • Tax-friendly policies

Arizona is increasingly diversifying its economy, with growth in a number of industries including:

  • Bioscience Research and Development
  • Technology and Innovation
  • Manufacturing including High Tech
  • Aerospace and Defense including top ranking University Programs
  • Business and Financial Services including Data Centers

According to a new economic report by State Policy Reports, Arizona ranks #3 in the nation for economic momentum. The momentum is based on Arizona’s growth in categories such as population, employment, and personal income.

What Do United States Migration Patterns Mean for Employers?

Employers in the states of Vermont, Oregon, Idaho, Nevada, and Arizona benefit from United States migration patterns that draw a variety of new residents. Growing industries with burgeoning job opportunities tend to generate additional jobs. As a result, communities grow in population and related services are needed such as housing, retail, insurance, and child care. Demand for employees may be strong in these states and many other locations, especially during tight labor markets.

What Should Employers do About United States Migration Patterns?

Employers in locations that benefit from United States migration patterns should review their company’s growth plans and requirements for jobs across all levels of skill sets. A company’s growth plans will impact the number and type of jobs required to meet business plans and goals.

Since the nation is experiencing low unemployment, employers should review their talent acquisition and management programs to ensure they remain competitive to attract and retain new hires and transferees. Relocation Management Companies (RMCs) can provide expert assistance to employers to benchmark their relocation policies and add enhancements that attract talent.

Conclusion

GMS’ team of corporate relocation experts has helped thousands of our clients develop relocation programs that attract and retain qualified employees. Our team can help your company determine how to leverage United States migration patterns for talent acquisition and management.

GMS was the first relocation company to register as a .com, 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 to discuss your company’s relocation program needs. Since United States migration patterns may lead to a growing local population and potential future workforce, be sure your company’s relocation program supports talent acquisition. Give our experts a call at 800.617.1904 or 480.922.0700 today.

Request your complimentary relocation policy review

Categories
Buy a Home Home Purchase Relocation Challenges

What are the New Real Estate Business Models?

What are the new real estate business models? Global Mobility Solutions’ 2019 Forum included a presentation by Ken Jenny, Executive Director, tranCen.com, Inc. Ken is an expert in the residential real estate industry. He has over 38 years of diverse and progressive experience in brokerage, MLS, franchising, online marketing, business processes, and technology. This experience includes an emphasis on executing tangible ways to improve the consumer real estate experience. From being a real estate agent to a corporate executive to an independent industry advisor, Ken has examined and designed effective change strategies for nearly every aspect of the residential real estate industry. Ken’s relentless consumer-first thinking addresses the ever-changing challenges facing the industry today.

Ken’s previous positions include the COO of Coldwell Banker Residential Affiliates, the CMO of Prudential Real Estate, and the CEO of RealEstate.com. Ken introduced attendees to new real estate business models and their implications for business and consumers.

What do New Real Estate Business Models Look Like?

Ken noted how new real estate business models differ from the current real estate business models. In effect, these new models offer custom solutions to what they perceive as the customer’s pain points in the current business models. Several key differences include:

  1. Easier processes for the seller
  2. One buyer (the alternative company) to work with
  3. Increasing the speed to closing

In Global Mobility Solutions’ White Paper: 2019 Industry Update – Talent Mobility, Real Estate, Household Goods, and Immigration, our experts explain these key differences in further detail. A full review of the many aspects of using a licensed and experienced Listing Agent are presented. These aspects are then compared to using an alternative company. A few important points to note about new real estate business models include:

  • Homes often must meet several restrictive criteria
  • The alternative company is the only buyer
  • Offers are negotiated using online real estate data
  • Closing statement is net of service fees (averaging 6.5%), inspection costs, and repair costs

As a result, our team of real estate experts developed the following guidelines. These guidelines are helpful for sellers who may be considering using a new real estate business model:

Sellers may want to use an alternative company and not a Listing Agent if they:

  1. Are not cost conscious.
  2. Desire to choose their own closing date.
  3. Feel comfortable relying on online real estate data.
  4. Are willing to market their home to only one buyer (the alternative company).

Sellers may want to use a Listing Agent and not an alternative company if they:

  1. Are cost conscious and seeking to lower any repair costs.
  2. Are able to work with a closing date negotiated with a Buyer, contingent on several components including appraisals and financing.
  3. Prefer a licensed professional appraiser to determine the value of their home.
  4. Desire a licensed real estate professional to negotiate the sale of their home for top dollar.
  5. Feel comfortable relying on a licensed and experienced personal representative that looks out for their best interests.

How are the Best Real Estate Companies Responding to New Real Estate Business Models?

Global Mobility Solutions chooses to work with the “best of the best” in our partner networks. In real estate, our partners must consistently meet stringent service levels. They must also deliver exceptional customer satisfaction as measured by customer surveys. As a result, GMS real estate partners provide unparalleled levels of service and satisfaction to our clients and their relocating employees.

These partners combine the best aspects of the current business model with the best features of the new real estate business models. As a result, they are able to deliver truly outstanding outcomes for our clients and their transferees. In order to enhance current marketing programs, GMS partners may use Virtual StagingTM to provide 24/7 access to homes without any inconvenience to the current owner. To speed the closing process, GMS partners may use Electronic Closing Platforms (eClosing). These platforms include features such as remote online notarization and eSignatures. GMS real estate partners offer a “restomod” approach to their real estate businesses, incorporating the best aspects of traditional real estate business models and the best aspects of new real estate business models.

What Does This Mean?

Companies that encourage transferees to buy instead of rent should be sure to provide their relocating employees with the best service in the industry. By using a combination of traditional and new real estate business models, the GMS real estate partner network delivers outstanding performance. Transferees with home sales and purchases will gain the advantages of advanced technologies and faster processes. They will also retain all the benefits of working with licensed and experienced real estate agents.

What Should Employers do About the New Real Estate Business Models?

Companies should work with an experienced and knowledgeable Relocation Management Company (RMC). RMCs provide extensive solutions when it comes to relocating new hires and transferees who need to sell and buy homes using new real estate business models. Companies should review their relocation programs. This will help ensure they have a competitive advantage. Also, it will ensure their program provides the highest level of relocation benefits and services for their employees.

Conclusion

GMS’ team of corporate relocation experts has helped thousands of our clients understand how they can provide exceptional real estate services to their new hires and relocating employees. Our team can help your company understand how to leverage the benefits of a partner network that represents the “best of the best” in the real estate industry for your transferees.

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.

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 to discuss new real estate business models, or give us a call at 800.617.1904 or 480.922.0700 today.

Request your complimentary relocation policy review

Categories
Buy a Home

8 Differences Between a Relocation Appraisal and a Mortgage Appraisal

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.

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