WIth the housing market in full recovery mode and the competition for talent heating up I thought I would re-blog this wonderful post from early on.
Employees who are being relocated typically say the most stressful challenges during the process boil down to two: selling one house and buying another. Many companies attempt to reduce the stress of the first challenge by offering either a guaranteed buyout or buyer value option program.
With the recent downturn in the housing market it seemed as though clients and prospects we spoke to were turning away from traditional home buyout and bvo programs. The risk of sales falling out, high carrying costs and larger than expected losses on sale was simply too great to ignore. The market was a moving target headed in the wrong direction during the early days of the market decline.
It is well known within the relocation industry that a well managed, traditional home sale program, is still more cost effective than a direct reimbursement program or a fixed fee program. This message however was…
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