Published on July 30, 2013

Medical employees, whether new hires or current staff, are often most concerned with having to sell their homes quickly at less than market value when faced with relocation. While most prospective transferees in all industries have these concerns, key medical personnel with these fears can impact entire communities, should they object to relocation.

Offering real estate-related assistance features in your relocation policy will appeal to medical professionals of all levels making recruiting and retaining needed talent a success.

Real Estate Features in a Strong Relocation Plan

Helping smooth out the transfer of key medical personnel is a major benefit of properly designed relocation programs. Real estate assistance may be the most important features of winning relocation policies focused on recruiting medical professionals. Among the wide spectrum of real estate features, the following are very popular with employers and employees alike.

  • Assistance selling the employee’s current home.

    Engaging an experienced real estate firm to sell the employee’s current home and reimbursing the transferee for the expenses to sell is a valuable feature for medical professionals.
  • Financial assistance for the loss on sale of a home.

    Including loss on sale reimbursements at first can appear daunting. However, you have the ability to control your cost by setting a maximum reimbursement level that is clearly stated in your written policy, which will be most competitive.
  • Retaining property management professionals to rent or facilitate the sale of an employee’s home.

    Qualified property management firms can perform two important tasks for your transferees and the company. Second, if the market makes it difficult to sell homes, property management firms can rent homes to qualifying prospective tenants to collecting rents.
  • Offering company-paid home finding trips, typically two, for the transferee and his or her spouse and/or family.

    House hunting in a new, unfamiliar location is challenging, sometimes frustrating. Relocation policies that include one or two home finding trips are highly attractive to medical professionals.
  • Partnering with an experienced, relocation savvy real estate agent, in the new area to help the transferee find suitable housing.

    The unfamiliarity with a new location causes transferee concerns. Experienced real estate agents working for transferees eliminate the mysteries and fears of finding the right home in the right neighborhood.
  • Arranging temporary living quarters while the transferee searches for or awaits the closing on a new home.

    Often, medical professionals are needed in new locations quickly. Even after multiple house hunting trips, transferees may not find acceptable homes or experience delayed closings. Medical employers offering furnished apartments, condos and single family homes as temporary housing for transferees will attract the best talent.
Free eBook:  A Guide to Developing  Relocation Policies
These real estate relocation features form the foundation of competitive relocation policies for medical employers. Key transferees appreciate these benefits, making employers that offer them more attractive to relocating medical professionals.