Relocation Company
Definition and meaning of Relocation Company in real estate.
A relocation company is a specialized firm hired by employers to manage the logistics, legalities, and physical moving process for employees relocating to a new job location.
In more detail
These companies act as a single point of contact for the employee, coordinating multiple services to ensure a smooth transition. They arrange packers, movers, and storage, and often provide destination services such as neighborhood tours and school search assistance. For employees who own homes, relocation companies can assist in selling the old house and buying a new one, sometimes even purchasing the employee's home directly if it does not sell within a specific timeframe.
By outsourcing these tasks, corporations save administrative time and minimize productivity losses from employees managing complex moves alone.
Key facts
| Category | Buying & Selling |
|---|---|
| Hired by | Employers or corporations |
| Key services | Moving logistics, home selling assistance, and neighborhood scouting |
| Target audience | Corporate transferees and new hires |
The corporation hired a relocation company to coordinate the cross-country moves of several employees who were being transferred to the new headquarters.
Frequently asked questions
How does a relocation company help sell an employee's home?
The relocation company often partners with local real estate agents to market the home, and they may offer a guaranteed buy-out option where they purchase the home if it fails to sell on the open market.
Does a relocation company charge the employee?
No, the services are paid for by the employer as part of the employee's corporate relocation benefits package.