Learn how to navigate through real estate challenges while relocating for a job
Inventory shortages are still a significant issue in real estate markets nationwide. Buyers often find themselves in bidding wars, pushing prices above the listing price. Many are forgoing property inspections, risking purchasing a home with potential problems that may only surface later.
This could lead to costly repairs, decreased property value, or issues during resale. Some states have non-refundable due diligence fees, while others require option money. Failing to meet contract requirements in these states can result in financial loss for the buyer. Sellers may prefer offers with fewer contingencies in states with refundable earnest money. Overall, navigating the real estate market in these conditions can be challenging for buyers and sellers alike.
This trend of homeowners staying longer has also been influenced by the uncertainty in the housing market due to the ongoing market changes. With the rise in remote work opportunities, many homeowners opt to stay put and improve their homes rather than go through the hassle of selling and buying a new property. This has further exacerbated the already limited supply of homes on the market.
As a result, potential buyers are facing stiff competition and bidding wars, especially in desirable neighborhoods. The combination of low inventory and high demand has increased home prices, making it even more challenging for first-time buyers to enter the market. Additionally, the increase in interest rates has made it more expensive to borrow money for a mortgage, further squeezing buyers’ purchasing power.
Overall, the current housing market is characterized by high prices, low inventory, and increased competition, making it a challenging environment for buyers and sellers. It remains to be seen how these trends will evolve in the coming months as the economy continues to change.
Why It’s Important to Work with an Agent Who Specializes in Relocation
Relocation management companies (RMC) recommend that relocating employees choose an agent from their approved real estate network. This ensures that the agent is knowledgeable about relocation policies and understands the intricacies of the moving process. By doing so, the relocating individual can make the most of the benefits offered through the home-sale program. Those who follow their company’s designated home sale program typically sell their homes faster, experience less stress during the move, and are prepared to start their new job upon arrival.
By utilizing your home sale program provided by an RMC, the primary contact at your relocation company can manage the complete moving process for you – from the evaluation of your relocation needs to the transportation of your belongings and, ultimately, the completion of the sale of your home. Furthermore, relocation real estate firms will provide you with a list of potential agents to consider before making a decision, empowering you to make the final choice.
Real estate agents who lack experience in the relocation process may need to be more proactive, skilled in maximizing savings and profits, or knowledgeable about effectively utilizing relocation benefits. Their lack of understanding of corporate relocation procedures could delay selling your home.
Work with GMS to Overcome Relocation Challenges
Our Global Mobility Solutions (GMS) team has years of experience handling corporate relocations and understands the intricacies of selling a home during this process. We have a network of trusted real estate agents who are experts in relocation transactions and can help you navigate the entire process seamlessly.
By working with GMS, you can rest assured that your home sale will be handled efficiently and effectively, maximizing your savings and profits. Our team will work closely with you to ensure you fully understand all the relocation benefits and how to maximize them.
Do not let inexperience or a lack of knowledge about relocation procedures prevent you from selling your home. Contact us today to speak with one of our relocation specialists, who can provide you with the guidance and support you need to sell your house successfully during a corporate relocation. We are here to help you every step of the way.
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Jules Matz | AHWD, ABR, CNE, CRP, GRI
Vice President, Real Estate Services Jules has over 21 years of experience as a licensed Real Estate Agent and Broker with operational experience gained from areas throughout the United States. She has held leadership positions such as Broker of Record and Real Estate Specialist, Team Leader, and Branch Manager, and as well as owned her own real estate company, working on U.S. Domestic and Government accounts. As a Team Leader, Jules taught monthly classes in contract writing, and contract negotiating to hundreds of Real Estate Agents.
