Over the holidays, I had a chance to talk with 6 senior executives, most in social settings, about their relocation and recruiting challenges. While they each had concerns particular to their industry, all agreed on at least three issues about how relocation service providers can improve.
First, there is simply not enough data and analysis supporting home sale management. All of these execs depend greatly on industry and market data in their businesses. Further, the analysis of this information is the key element to applying it to useful - tactical and strategic purposes. They feel that, in spite of the wealth of data, and the gravity of the real estate situation, relo companies simply do not provide clear insights that are shared - communicated in a clear and convincing manner - with client companies. Transferees constantly worry out loud about both departure and destination market value and time on market issues.
Second, while the relo industry has done a good job of adopting ISO certifications and Six Sigma practices, they all say this is merely a minimum expectation on the part of client senior executives. They see little evidence of creative, value-added processes that expand beyond these qualifiers. After all, as one said, "these have been around a long time and apply to all industries. I would like to see something innovative that is specific to relocation".
Third, as everyone knows, international relocations are ever more common and expected to increase. These senior execs do not see strong language ability, or a real understanding by US personnel of the important details of international culture and destinations, or any attempt to provide support on political risk. After all, doing business in China means doing business in a communist country with no freedom of the press or individual freedoms. Also, the upheaval in the Middle East should elicit action by relocation providers on risk and programs to manage it.
Please comment on any of these items, and share what you are doing, or support you need, to meet these stated needs.
I hope you all enjoyed your Thanksgiving holiday.
Monday, November 28, 2011
Friday, November 11, 2011
Civil War - Union Success and Failures
In the West - states along the Mississippi - Grant had early successes against the Confederates. At Shiloh, after nearly being pushed into defeat, he rallied the Union and defeated the army of Albert Sidney Johnston, who died from battle wounds. As Johnston was considered the best general officer in the South, this was a serious blow to the Confederacy.
Grant demonstrated at Shiloh, and earlier at Forts Donelson and Henry, that he was effective - a winner that Lincoln would later turn to for leadership. However, in the East, things went from bad to worse for the Union, and Washington was under threat almost constantly.
General McClellan executed a grand strategy to assault Richmond from the southeast with a huge Union force. The enormous logistical operation was achieved by summer, 1862, and McClellan began moving toward Richmond. Union soldiers were so close that they could hear the bells of Richmond's St. John's Church (site of Patrick Henry's "give me liberty or give me death" speech).
Robert E Lee assumed command of the Confederate forces and launched a series of bold attacks that drove the Union forces back to their fortified James River position in less than a week. McClellan was outgeneraled and showed that his caution was a serious liability - and Lincoln removed him from command. Lee, on the other hand, surprised Union and Confederate leaders with his skill and audacity. His manhandling of a much larger Union force was a preview of his illustrious career as a field commander.
Lee followed up with another whipping of a Union force at Manassas in August (so-called "Second Manassas") and it looked like Lee was unbeatable. The next move was an invasion of Maryland in September, setting the stage for a crucial turning point of the war. At Antietam, America experienced the bloodiest day in its history, and in its wake Lincoln would decide to free the slaves.
Grant demonstrated at Shiloh, and earlier at Forts Donelson and Henry, that he was effective - a winner that Lincoln would later turn to for leadership. However, in the East, things went from bad to worse for the Union, and Washington was under threat almost constantly.
General McClellan executed a grand strategy to assault Richmond from the southeast with a huge Union force. The enormous logistical operation was achieved by summer, 1862, and McClellan began moving toward Richmond. Union soldiers were so close that they could hear the bells of Richmond's St. John's Church (site of Patrick Henry's "give me liberty or give me death" speech).
Robert E Lee assumed command of the Confederate forces and launched a series of bold attacks that drove the Union forces back to their fortified James River position in less than a week. McClellan was outgeneraled and showed that his caution was a serious liability - and Lincoln removed him from command. Lee, on the other hand, surprised Union and Confederate leaders with his skill and audacity. His manhandling of a much larger Union force was a preview of his illustrious career as a field commander.
Lee followed up with another whipping of a Union force at Manassas in August (so-called "Second Manassas") and it looked like Lee was unbeatable. The next move was an invasion of Maryland in September, setting the stage for a crucial turning point of the war. At Antietam, America experienced the bloodiest day in its history, and in its wake Lincoln would decide to free the slaves.
Wednesday, November 2, 2011
Property Management
Realtors often handle property management for lenders, relocation companies and asset management companies. According to an expert in real estate law, there are several cautions that should be addressed.
First, whenever an inspection - the routine monthly exterior inspection, not the GHI - reveals damage or an issue with the property, the realtor faces a disclosure requirement if they are also listing the property.
Two, is the realtor that does an inspection, or looks at a report, qualified to say the foundation is sound, for example? If the realtor arranges for repairs, are they also indemnifying the repairs? This is particularly important when handling these tasks for lenders on REO properties.
Third, the E&O policy which relators carry often excludes coverage for anything relating to property management; thus, realtors should be sure they do not need a separate policy to cover property management activities.
Fourth, are the fees that realtors charge competitive with the field service company alternative? They are often higher, but there may be sufficient compensating factors for the higher cost.
Relocation folks: remember to get a CLUE report before you or your client takes a property into inventory.
First, whenever an inspection - the routine monthly exterior inspection, not the GHI - reveals damage or an issue with the property, the realtor faces a disclosure requirement if they are also listing the property.
Two, is the realtor that does an inspection, or looks at a report, qualified to say the foundation is sound, for example? If the realtor arranges for repairs, are they also indemnifying the repairs? This is particularly important when handling these tasks for lenders on REO properties.
Third, the E&O policy which relators carry often excludes coverage for anything relating to property management; thus, realtors should be sure they do not need a separate policy to cover property management activities.
Fourth, are the fees that realtors charge competitive with the field service company alternative? They are often higher, but there may be sufficient compensating factors for the higher cost.
Relocation folks: remember to get a CLUE report before you or your client takes a property into inventory.
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