Selling Prices and Time on the Market of Houses Sold through Relocation Management Companies.

Employers contract with relocation management companies (RMCs) to help employees transfer from one location to another. In an efficient market, the selling price and time on the market (TOM) should not vary based on the nature of the seller. However, RMCs provide sellers with relocation package benefits that may affect TOM and selling price. This study examines a sample of 24,493 sales from 1998 to 2017, which includes 831 relocation sales. Relocation properties are more expensive, newer, and have more amenities than other transactions. The properties are less likely to be occupied during the listing period. Relocation sales of smaller properties sell 22.7% more quickly and at a 3.3% price premium in 1998–2007. TOM is 29.7% shorter for larger relocation properties in 2012–2017, suggesting more generous relocation packages for higher-level employees. [ABSTRACT FROM AUTHOR]