Frequently Asked Questions
Lexicon's Marketing Assistance Program assists your employees in selling their homes quickly while obtaining the highest possible sales price. We select market-leading real estate companies with a proven track record of performance. The Lexicon counselor develops a comprehensive marketing plan while assisting your employee in contract negotiations. Historical selling time has averaged less than 50 days.
Lexicon has access to an in-house database that supplies us with cost of living and move information for cities and countries around the world. The information provides our clients with accurate cost differentials that can be customized by income, family size, home size and many other variables. The information is a great tool for recruiting and budgeting.
Lexicon can provide a cost of living analysis from our in-house database. To request a cost of living analysis, please see our "Ask the Expert" submission form. Some companies may provide additional financial support to employees moving to a new location with a proven higher cost of living. The most cost effective benefit for the company and the employee is a mortgage subsidy. Please contact Lexicon Relocation for more information on this program.
Consistent with current business trends, outsourcing of the entire relocation administration responsibility is the popular choice among most clients. The majority of Lexicon clients have elected to outsource this entire function, thereby allowing them to focus more on revenue producing core competencies. Our experience alleviates the day-to-day responsibilities for you, and provides instant management information to better analyze the overall program. Our objective is to be a "single point of contact" where one call serves all relocation needs.
Locating and purchasing a new home can be a complicated and stressful activity. Without a well planned and organized search trip, it is extremely difficult for employees to reach a decision on their biggest investment in just a matter of a few days. Lexicon assigns a real estate professional who is best suited to identify your employee's needs and narrow the search to specific communities that match those needs. This formal process helps insure a good investment decision is made, which pays dividends if the employee is asked to move again.
Lexicon provides our clients with a complete set of comprehensive and customizable cost, status, and budgeting reports. The reports are specifically designed to provide each client with information helpful to both human resource and finance departments.
One thing you can be certain about is the constant change that takes place in the tax and accounting treatment of relocation expenses. The constant change is difficult to keep up with even when your core business is relocation. It can be completely overwhelming for non-career relocation personnel. Lexicon performs all cost tracking and expense administration functions in accordance with the most current tax and accounting regulations. Lexicon maintains and reports all of the relocation related expenses and generates the required individual tax information and schedules.
Our relocation counselors help the transferring employee understand the benefits provided by their employer (policy counseling), and then assist with the activities necessary to complete the relocation. The relocation counselor is available to answer all of the employee's questions, help with the often complicated logistics and paperwork associated with relocation, and they serve as a single point of contact throughout the relocation process.
Lexicon employs individuals who have a proven track record in the real estate, related service and relocation industries. Lexicon's relocation counselors have significant relocation industry experience and average more than five years of counseling. The majority of the Lexicon counselors are Certified Relocation Professionals (CRP) and many hold their Real Estate License. If they do not hold the CRP designation when joining Lexicon, then they are working towards it as one aspect of their ongoing training. Those counselors that are working with global transferees have or are working towards the Global Mobility Specialist (GMS) designation and training.
Yes, the cost of in-transit storage of household goods up to 30 days is deductible. Add what you paid for storage to the costs of your household goods shipment on IRS Form 3903.
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