Relocating on the Boss's Dime

published 31 August 2007

Neal Levy's family lived the good life in Savannah, Ga., in a cottage on a barrier island where they enjoyed boating with friends. Then came Levy's promotion to district manager for a large pharmaceutical company, followed by a request that he move to Atlanta just as the Savannah housing market was starting to sputter. "If I'd had to do it all on my own, I wouldn't have made the move to the big city," says Levy.

Levy's good fortune is a nationwide trend. Perks start with marketing help to sell your old house, ranging from paint and new carpet to help with brokerage commissions and closing costs. Some companies will offer a bonus -- say, 2% of the sales price -- if you close the sale within six months. Companies may step up perks by buying your home at its appraised value, or by reimbursing you if you sell at a loss, up to a cap. Employees, in turn, may be asked to use a recommended agent and to list their home for close to its appraised value.

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Anne Kates Smith brings Wall Street to Main Street, with decades of experience covering investments and personal finance for real people trying to navigate fast-changing markets, preserve financial security or plan for the future. She oversees the magazine's investing coverage, authors Kiplinger’s biannual stock-market outlooks and writes the "Your Mind and Your Money" column, a take on behavioral finance and how investors can get out of their own way. Smith began her journalism career as a writer and columnist for USA Today. Prior to joining Kiplinger, she was a senior editor at U.S. News & World Report and a contributing columnist for TheStreet. Smith is a graduate of St. John's College in Annapolis, Md., the third-oldest college in America.