Relocation buyers and sellers can fall into different categories. In the official sense for real estate agents a Relo is associated with a buyer or seller that has a company assisting them with their relocation. This type of relocation has a different set of rules and documentation required to work through the process.
Relocation in the more general terms is a buyer or seller who is simply relocating from one area to another. If the relocating party is this type of client our job is to help coordinate their move with the greatest care. If someone is looking to move out of our area we can assist in listing their home and selling their home while also coordinating with a real estate agent in the city or area they are moving to. We pride ourselves in assisting in finding the right agent on the other end that has the experience and personality that will best match with our client. We research the background before referring someone to another agent to be certain they are in the best of hands possible. This is extremely important to insure that the move is as worry free and smooth as possible. We want the experience to be a great one for our client. The move can be in the opposite fashion. We can have a relationship with a buyer who is coming to our area but has not yet found someone to sell an existing home where they currently live. We can help them find the best listing agent in the area they are coming from as well.
There are instances where a client is renting on one end and either selling or purchasing a home. That combination works too. We will assist in the coordination of whatever our client needs.
Relocation in the more official sense where an actual company is assisting the client with the move involves an agent that has that specialized training. We have relo certified agents on our team that have that knowledge. A seller or buyer can request an agent of their choice but that agent is often required to be trained. The ins and outs of relo contracts and reports are specialized.
If a buyer is looking to purchase a home that is owned by a seller working with a relo company that is perfectly acceptable. That buyer will need to be willing and prepared to sign additional paperwork that the relo requires. There are both pros and cons to a relo home purchase but the pros generally outweigh the cons. Often but not as a rule these homes are already pre-inspected and have had repairs completed based on those inspections. Some relos even offer certain warranties. Each case is different. It is definitely a plus to have someone who has the experience or resources to work with the ins and outs of a relo. Some relocation properties are corporate owned, meaning the employer moving the seller has purchased the home so the seller can move on without the worry. These properties are available to any buyer but additional paperwork is involved and certain clauses in the sale are required. Purchasing a Relocation property can be a bit confusing at times but an informed buyer can reap the benefits.