Highlights of NEI's April 10th Webinar Series

Immigration | U.S. Buying Power | NAR

NEI launched its 2025 Talent Agility Webinar Series with a forward-looking conversation on the shifting dynamics of global mobility. The session explored critical industry issues, including real estate policy changes, immigration reform, geopolitical uncertainty, and evolving compliance expectations.

Opening the event, NEI President and CEO Michelle Moore welcomed over 120 attendees and reflected on the company’s 40-year journey—acknowledging the people, partners, and clients who have shaped its success. The discussion was moderated by Connie Pearson, who guided the audience through insights designed to help organizations stay agile in an increasingly complex mobility environment.

The insights shared during the session reflect information available as of April 10, 2025. While developments in areas like immigration and global policy continue to evolve, the perspectives and guidance presented remain a valuable foundation for understanding current trends and preparing for what lies ahead.

Shifting Real Estate

• NAR Settlement and Client Decisions
• Real Estate impacts and updates
• Mortgage impacts and updates

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NAR Settlement and Buyer Agent Compensation Changes

Connie Pearson opened the session with updates on the National Association of Realtors (NAR) settlement and how NEI clients are responding to the new buyer agency rules.

• The NAR settlement requires buyers to sign agency agreements upfront, with full commission disclosures.
• Although sellers still largely pay buyer agent fees, the burden of negotiation now lies with the buyer.
• In Q4 2024, commissions dropped only marginally from 2.45% to 2.36%.

Client Policy Shifts:

• 12% of clients now offer capped buyer agent commission reimbursements.
• 16% do not offer commission support.
• 63% remain undecided, awaiting further market data.
• NEI has provided policy language and procedures for supporting transferees under these changes, with requirements including documentation and pre-approval.

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Industry Insights on the NAR Settlement

John D’Ambrogio likened the industry’s anxiety around the NAR changes to a "Y2K moment" — a major buildup followed by minimal real-world impact. He emphasized three takeaways:

1. Transparency and Decoupling: The DOJ achieved greater separation between buyer and seller agent roles.
2. Stable Commissions: Commission rates remain relatively unchanged; some areas, like Chicago, saw slight increases.
3. Supply Constraints: The real disruptors are housing shortages, labor issues, and rising costs—not policy changes.

Chris Douglas added:

• Lenders had to adapt to variable commission structures, requiring more buyer documentation and limiting pre-approval accuracy.
• Lenders must now wait for finalized contracts and agent agreements before underwriting.
• NEI and U.S. Bank collaborate closely to prevent billing errors and ensure policy benefits are executed properly.

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Tariffs, Housing, and New Construction

The discussion turned to new construction and tariffs, key drivers of housing availability and affordability.

• Tariffs, particularly the sudden spike on Chinese goods (up to 145%), have increased material costs.
• The U.S. homebuilding sector is heavily reliant on both imported goods (like lumber and aluminum) and immigrant labor (29% of construction workers are immigrants; 14% are undocumented).
• The National Association of Home Builders estimates that tariffs add about $9,800 per home, equivalent to 3% of average home prices.

Challenges for Relocation Clients:

• Builder incentives such as cash-back at closing complicate relocation reimbursements.
• U.S. Bank has built dedicated builder relations programs to prevent conflicts at closing.
• Interest rate buy-downs are being used as a strategic alternative to help transferees retain affordability.

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Interest Rates and Mortgage Impacts

Douglas elaborated on the volatile interest rate environment:

• The rate spike in 2022—jumping from ~3% to over 6.5% — significantly disrupted affordability.
• A $400,000 mortgage now costs nearly $1,000 more per month than it did just a few years ago.
• NEI clients are revisiting older relocation policy tools like:
  
  • Mortgage interest differential allowances (MIDAs)
  • Mortgage subsidies

However, the cost can be prohibitive — e.g., a 3-year subsidy on a $400K loan at current rates can cost $36,000.

Outlook:

• Most forecasts (e.g., Fannie Mae, MBA) suggest rates will remain in the 6.3–6.6% range through 2026.
• Any dip into the 5% range could temporarily boost purchase activity.

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Navigating Visa & Immigration Updates

U.S. Post-Election Updates and Glance at Global Geopolitics Impacting Talent Strategies and Travel

Under Biden (2021–2025):

• Introduced AI-driven visa initiatives and streamlined National Interest Waivers.
• Lowered processing times and RFE (Request for Evidence) rates.
• Expanded Dropbox eligibility for visa renewals.

Under Trump (2025–Present):

• Immediate implementation of executive orders, including:
  
  • Securing the Border: Wall reconstruction, enhanced patrols, and rollback of CBP One app.
  • Ending Birthright Citizenship (currently blocked by injunction).
  • Travel Ban 2.0 targeting countries with weak vetting protocols (paused for now).
  • TPS Termination: For countries like Venezuela, Haiti, and potentially Ukraine.
  • Guantanamo Bay Expansion: For noncitizens with criminal convictions in detention.
  • NTA Policy: Places dependents of denied visa applicants into deportation proceedings.

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Key Immigration Concerns for Employers

Best Practices for Talent Mobility Teams:

1. Compliance Readiness: Prepare for ICE, FDNS, and USCIS visits. Ensure all remote worker locations are covered under LCA rules.
2. Support for Employees: Train workers on rights during ICE raids, especially in public places.
3. Alternate Visa Planning: Explore offshoring or different visa pathways as policies evolve.
4. Stay Informed: Work closely with legal counsel to track which policies are active, blocked, or pending litigation.

Parsons also warned of upcoming visa vetting measures, including:

• Mandatory biometrics for most foreign nationals, even minors.
• Restrictions on Dropbox use, shrinking eligibility from 48 to 12 months.
• Social Media Scrutiny: Applicants may need to disclose online handles, with AI monitoring content retroactively.

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Global Geopolitical Influences on Mobility

Parsons examined how global events are shaping mobility:

Ukraine & Russia:

• EU nations granted temporary protected status (TPS) to Ukrainians, allowing rapid employment.
• Longer-term work permits are easier to secure in countries like Netherlands, France, and Ireland.
• Russian nationals face greater screening, embassy closures, and flight restrictions.

Israel & Palestine:

• Surge in L-1 visa applications from Israeli nationals.
• Little mobility observed from Palestinian nationals.

China:

• In contrast to the U.S., China is loosening visa restrictions to encourage inbound talent and tourism.

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Looking Ahead (2025–2026)

Parsons concluded with predictions for the near future:

• RFE rates and visa denials will rise.
• New proposals may limit visa eligibility to those earning $200K+.
• Processing slowdowns are expected due to increased security measures and embassy staff cuts.
• More ICE audits, particularly targeting remote work LCA compliance.
• Higher risk of discrimination litigation under EEOC and IRS guidance.

Employer Action Plan:

• Audit visa and PERM data for accuracy.
• Develop contingency plans for visa delays and rejections.
• Provide mental health and logistical support for globally mobile employees.

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Conclusion

Session 1 of the Talent Agility Series 2025 painted a picture of a rapidly evolving environment where policy, economics, and geopolitics intersect with talent strategy. From real estate shifts due to the NAR settlement, to inflation-driven mortgage challenges, to tightening immigration enforcement, the session underscored the need for agility, foresight, and strong policy frameworks in global mobility programs.

As companies face mounting uncertainty, staying informed, collaborative, and compliance-focused will be key to maintaining successful mobility strategies in 2025 and beyond. Please contact your NEI representative or visit www.neirelo.com for more information.

Please mark your calendars for our next Talent Agility Webinars on August 21, 2025 and December 4, 2025. More details and invites to come.

About NEI Global Relocation

NEI is a certified Women’s Business Enterprise headquartered in the U.S., with in-region offices and teams in Switzerland and Singapore. As a full-service global relocation and assignment management company, we partner with clients around the world to provide consultative guidance and tailored solutions. NEI services more than 200 clients, including many Fortune 500 and Fortune 1000 companies, and delivers strategic insights, benchmarking, and trend analysis that help clients make informed, forward-looking mobility decisions.

The above article is provided for informational purposes only. Please consult your tax, legal, or accounting advisors before making any decisions or transactions.

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