In other industry news, Relocation giant Sirva announces bankruptcy. According to The Employees Relocation Council, Sirva is among the top-five largest relocation companies in the world. In down markets, relocation companies incur more costs as homes take longer to sell. U.S. relocations are expected to be fairly flat in 2008 compared to last, while global relocation is still growing. Relocation companies work with real estate professionals to assist clients' employees in selling their homes and finding and purchasing homes in a new location. Real estate professionals that work with relocation companies agree to pay a large share of their commission income with the relocation companies in exchange for the referral of business.

Posted in Headlines, Real Estate Industry Trends

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