By Brian Benninghoff, REALTOR, Sales Associate
Atlanta Fine Homes | Sotheby’s International Realty
Are you on the fence about relocating for a new job, or are you about to start those first steps in the relocation process? If so, the first thing you should know is that it is possible your company will offer you a relocation package and set you up to work with a third-party relocation (aka RELO) service.
This RELO company will handle every aspect of your relocation for the job, from selling your current home to buying a new one where your prospective job is located. Using a third-party relocation company is usually not very complicated, but there are a few things to be aware of when using this type of service.
1. Relocation Services are Not Made Equal
Every relocation company is different and has their own set of strengths and weaknesses. It is vital for the RELO service you work with to have expertise and sound knowledge of the area, local real estate processes, and your individual needs. The seller and RELO company weigh-in on decisions together, so make note of how the company communicates and upholds process standards. The same goes for your chosen real estate agent too.
2. You Can Use Whoever You Want
People often think they have to use just the one real estate agent assigned to them by the RELO company. You don't; you can use whoever you want to use for a relocation agent. Relocation is a thoughtful and thorough process, so you need to work with someone who is knowledgeable about the area, someone who values customer service and is committed to his/her position as a real estate professional.
3. RELO Companies Make Moving FAST
Your new company wants you in their city and on the job as soon as possible, so the relocation package your company offers will cover all costs of moving; that usually includes hiring a moving company to pack and load your belongings on a truck to be transported to the new home you and the RELO company closed on. A RELO service will facilitate the moving process by hiring a mover like Mayflower or Allied Van Lines.
4. Your Costs and Fees Might be Lower
By having relationships with moving companies and other industry vendors like contractors, mortgage lenders, your costs are very likely to be lower, saving you money. Your company working with the relocation firm may provide these special relocation deals straight from the beginning or offer the deal contingent on you staying with the company for a certain length of time.
5. A Guaranteed Buy-Out is Possible
Depending on your role within the organization your company may offer you what is called a GBO- guaranteed buy out. This basically means your current home is guaranteed to be sold even if your RELO company and realtor cannot find a buyer in time. The RELO company will hire appraisers to determine the value of your home, and if no one buys it, the relocation company will purchase your home for you. T
Relocating to a new place is always somewhat stressful but with the right resources and an agent that has knowledge and expertise in the area, your move can be made seamless and a great experience.
About Brian Benninghoff
As a Dunwoody, Georgia, resident for over 40 years and a full-time realtor for 16 years, Brian Benninghoff is highly versed in the inner workings of Atlanta real estate and relocation. Brian is known for his straightforward and authentic approach and is passionate about Atlanta and his expertise and thorough understanding of the ever-changing Atlanta market has branded him as a local expert and contributed to countless testimonials of client success. Benninghoff has sold over 500 homes in Atlanta and surrounding areas.