When relocating an existing homeowner, there are many things to keep in mind (such as selling their home, finding a new home, moving a home’s worth of goods, and usually supporting a whole family versus one relocating employee). Here are five important benefits you should provide your relocating homeowners to make sure they settle into their new destination without any hiccups.
1. Home Purchase Assistance
One of the first things a relocating employee asks themselves is, Where will I live? This is where Home Purchase Assistance comes in. Home Purchase Assistance should include in-depth counseling—addressing relocating employees’ needs and concerns in their new location. There are specialists at relocation management companies trained to act as an objective advocate for the transferring family throughout a home search process, reviewing the real estate agent responsibilities with respect to buying a property in the destination location. This should also include reviewing different real estate “agency” representations; employee housing requirements and time limitations, including transfer date, projected move date, preferred area, community amenities, price range, size, and style of desired property; availability; commuting logistics; and any unique requirements the transferring family may have. At WHR Group, we employ Relocation Counselors who are licensed real estate salespeople, meaning true market knowledge throughout the home purchase process.2. Rental Assistance
We understand that owning a home isn’t for everyone, especially if this relocation is not long-term for the existing homeowner. Homeowners should also receive the option to rent in their new location, and this Rental Assistance should be personalized to the relocating employee’s unique needs. Make sure your relocation company offers renters the following helpful services:- Area Tours: When a local/on-the-ground agent provides a “show off” or area tour to the prospective renter. This allows the renter to see various neighborhoods that could work for them; the best areas for entertainment, shopping, and dining; plus access points to public transport.
- Guided Tours: Following a thorough needs assessment, a local agent is assigned to locate properties that best fit the renter’s needs, until the perfect place is found. Additional support for lease negotiation and financing hurdles is provided.
- Self-Guided Tours: The renter receives online, detailed access to available rental units following a thorough needs assessment.
- Other: Guidance for obtaining a new driver’s license and finding local grocery stores and banking institutions for opening new accounts.
3. Network Support
At WHR Group, we manage a network of over 40,000 real estate agents. All agents are interviewed and must meet certain quality criteria before inclusion in our network. Based on the relocating employee’s particular requirements, their Relocation Counselor will select a real estate agent (or agents, depending on the complexity of the market area) in the destination location to assist the employee in finding suitable housing. The Relocation Counselor furnishes the selected agent with a complete profile of the employee’s personal housing needs and community preferences. The agent will then provide an introductory packet of information about the destination area, oftentimes containing data regarding representative communities and home price ranges, community profiles, maps, state and local income tax facts, school district data, available medical services, public transportation schedules, driver’s license and registration information, moving tips, local sites and attractions, dining and entertainment guides, recreation guides, and other pertinent information on the new location.4. Temporary Living
Corporate relocation isn’t always long-term, which is why we maintain a network of corporate or temporary housing providers and hotel chains. Offering this service allows short-term transferees to feel at home anywhere, no matter for how long. Your relocation provider should work with temporary housing providers that, at a minimum, conduct unit inspections 24 hours prior to employee arrival, supply an inspection sheet for every unit with recent photos, and provide a phone number for 24/7 emergency assistance.5. Area Tours
Area tours are usually conducted by the selected real estate agent but coordinated by the Relocation Counselor. Based on individual lifestyle information and housing preference criteria, the destination area agent will provide the following for the relocating employee:- Review desirable and affordable communities and screen the available homes within a commuting radius to the new location. The Relocation Counselor will arrange for the destination agent to contact the employee and familiarize them with more detailed information about the local area.
- The destination agent will prepare a complete home-hunting itinerary and schedule of available properties for the employee so that the transferring family is able to get acquainted with the area and see available homes on a timetable that meets their needs.
- When a suitable home is located, the Relocation Counselor ensures that the destination agent assists the employee in preparing the proper contracts and negotiates the home purchase according to applicable laws and regulations regarding relocation home sales.
- To enable a more informed decision by the employee, before making an offer to purchase a property, the Relocation Counselor will arrange for the destination agent to provide the employee with historical data on comparable home sale prices for the area within the previous three years.