For those unfamiliar with relocation companies, they are a third-party company hired by an employer to help an employee with all aspects of the move to make the relocation process a little easier. The seller and the relocation company have their say on the negotiations for the house. A watch is a home sale that is completed with the help of a relocation company. These companies are hired by companies to help their transferred employees move.
A watch company could help the transferred employee hire movers and find a rental home. If the employee owns a home, the relo company could help the employee sell the old house. While the company can handle the entire sales process for an employee moving to a new area, outside buyers can also find an opportunity to purchase the property that same employee has just vacated. Buyers should have a ready source of guarantee money that they can quickly send to the relocation company, says Tonya Hamilton, vice president of relocation at Prudential Woodmont Realty in Brentwood, Tenn.
While relocation sales don't necessarily translate into quick-sale prices, buyers can count on the home to be priced right for their market, says Michael Nimer, chief operating officer of OneSource Relocation, a relocation company in Marietta, Georgia. In some cases, the offer is negotiated verbally between the owner, assuming that the relocation company has not yet purchased the property and the buyer. Corporate relocation services often offer employee relocation assistance, including selling the employee's current residence, as well as purchasing a new home in the desired location. The time it takes for a buyer to receive the contract signed by the relocation company depends on how complete the contract is when it is submitted for review and signature.
Typically, agents working with RELO companies are guaranteed a steady stream of buyers and pay a high referral fee to the RELO company. It is important to note that both the relocation company and the home offered for sale are often referred to as “relos”. After the employer buys the house, the relocation company becomes the main party in the sale negotiations. Real estate location companies are companies created to help you with the various stages of moving, especially if you are moving a long distance.
Many companies go one step further and offer incentives to buy a home in their new city within the year of the move. Different relocation companies have different ways of working, but the core methodology remains more or less the same. Relo sales are sales managed by relocation companies rather than real estate agents or individual buyers and sellers. Therefore, it is important to do everything possible to streamline the process by providing as complete a contract as possible to the listed agent so that he can send it to the relocation company.
You hired them to do a job, so it often makes sense for the company to give themselves more time to negotiate a sale or to have a property to relocate future customers to.
