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How Employers Can Help Employees Master the Real Estate Market
Smart employers are leveraging their relocation programs to give employees the information and support they need. Often, this includes:
Providing Responsive Relocation Benefits
Home-buying isn’t easy under the best of times, and it’s no longer the best of times. A competitive relocation policy offers the flexibility to cover needed house-hunting trips, as well as some or all closing costs—partially offsetting the sting of higher mortgage rates.
Offering a Network of Vetted Real Estate Agents
Proactive relocation providers have created national networks of top-performing real estate agents who help employees manage both ends of the home-selling/home-buying process.
A powerhouse real estate agent can quickly bring families up to speed on their local market, including current home values, the most promising neighborhoods for their situation, commuting options, etc.
They can help home-sellers prepare and price their home and help buyers negotiate a good deal, while providing referrals to trusted attorneys and home inspectors, simplifying the closing process.
Offering a Network of Preferred Mortgage Lenders
Similarly, top relocation providers have developed relationship with leading lenders who may offer discounted interest rates and an expedited approval process in return for a steady volume of business. And given current interest rates, this can be especially advantageous right now.
Connecting Employees to Hyper-local Market Information
Rather than leave employees to browse the Internet on their own—an overwhelming and not- always helpful process—tech-based relocation companies connect employees directly to current, carefully-curated information about their new location.
For example, UrbanBound’s relocation platform connects employees to city and neighborhood guides that detail real estate activity, school ratings, crime data and more—as well as insider tips from future coworkers that can make a big difference.
Whatever the state of the real estate market, thoughtful employers give their relocating employees the information and tools to manage it—and right now, that’s more important than ever.
If your current relocation program isn’t getting the job done, now’s a great time to upgrade your program.