“Compromise” is an important word in the real estate industry right now. Sellers may have to compromise on their asking price, offer sellers' concessions or take other steps to ensure the fast sale of their home. Buyers must navigate a tricky mortgage approval process that could involve extra paperwork, delays or interest rates higher than they could get a few years ago.
But no one is compromising more than companies attempting to relocate employees quickly and efficiently. Home relocation packages are skewed toward fast home sales, nearly at any cost to the company. After all, a quick home sale:
- Creates less stress for the relocating employee
- Improves the chances of employee retention following a move
- Contributes to a faster return-to-productivity
Encouraging Fast Home Sales
There are several ways to encourage fast home sales, including:
- Loss-on-sale benefits
- Fast home sale bonuses
- Home staging services
- Hiring the most qualified real estate agents
You must find that balance between fast home sales and staying within your corporate relocation budget. Sometimes, it's more about the approach to home sales than it is about spending more money. For instance, the top real estate agents that work with you or your relocation management company don't necessarily cost more than an agency your employee might hire to sell his home, but they may get the job done more quickly. Or, by spending extra for home staging services, your employee's home may sell at a higher price, minimizing loss-on-sale benefits and resulting in a happier, more productive employee.