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The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you. SHARE: Adobe Stock September 22, 2022 Michele Petry is a senior editor for Bankrate, leading the site’s real estate content. Bankrate logo The Bankrate promise
At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict editorial integrity, this post may contain references to products from our partners. Here's an explanation for how we make money. Bankrate logo The Bankrate promise
Founded in 1976, Bankrate has a long track record of helping people make smart financial choices. We’ve maintained this reputation for over four decades by demystifying the financial decision-making process and giving people confidence in which actions to take next. Bankrate follows a strict , so you can trust that we’re putting your interests first. All of our content is authored by and edited by , who ensure everything we publish is objective, accurate and trustworthy. Buying or selling a home is one of the biggest financial decisions an individual will ever make. Our real estate reporters and editors focus on educating consumers about this life-changing transaction and how to navigate the complex and ever-changing housing market. From finding an agent to closing and beyond, our goal is to help you feel confident that you're making the best, and smartest, real estate deal possible. Bankrate logo Editorial integrity
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You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey. Bankrate follows a strict , so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers. We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money. Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service. After months of searching, you’ve scored your dream job. The only problem is that it’s located halfway across the country. If you accept the job, you’ll need to sell your current home, find a new one and move your family hundreds of miles away. Fortunately, the company offers a relocation package, which includes assistance from a relocation company. While are never easy, these companies exist to make them less of a headache. Here’s what relocation companies are, what they do, when you might need one and how they’re different from a regular moving company. What is a relocation company
A relocation company is a business that’s hired by an employer to help facilitate moves for new or existing employees. They can act as part–moving company and part–real estate agent, providing support to people who are transitioning to a new location for work. An employer might hire a relocation company to help move a new employee closer to their facility, or they may do so if they’re closing an existing location and reassigning employees to a new one. Some employers offer relocation packages as a benefit for moving to a new area. These packages generally include relocation assistance and a financial incentive, which can encourage employees to fill vacancies that may not be local. What do they do
Relocation companies frequently offer specialized services, which can include not just moving support but also real estate support. For example, some may handle (or help with) the sale of a home in the existing location and the purchase of a home in the new location. They may also help facilitate the moving process and provide support services to employees in transition. Relocation companies can also help with other , such as providing employment assistance to spouses or partners, helping families find new schools for their children or arranging transportation to your new location. When might you need a relocation company
Employees might need the help of a relocation company if their job is taking them to a new city or state, or even overseas. For example, if a business is moving its headquarters from Washington to California, or transferring a team of employees from its Seattle office to its Los Angeles office, it might partner with a relocation company to help facilitate housing and moves for the affected employees and their families. Similarly, if a U.S.-based employer is sending you to Europe for a year, they might hire a relocation company to handle the logistics of the move so you don’t have to. A relocation company may also work with a newly hired employee who is moving in order to accept the job. Who hires it you or your employer
Generally, employers are the ones to hire relocation companies. , and cause a lot of stress, so companies often provide this service as a perk for displaced or transitioning employees. Individuals typically don’t hire them directly, as most relocation companies cater to businesses. Relocation company vs moving company
While the two may seem very similar, relocation companies offer a much broader range of services than moving companies do. In general, a moving company’s sole responsibility is to move your belongings from point A (your old home) to point B (your new home). A relocation company is much more full-service. While they help facilitate the moving process, they probably won’t be the ones actually moving your things — they will likely hire a moving company to do that. More importantly, relocation companies also help with finding you living accommodations in your new city. They may work with real estate agents to get old homes listed for sale and find employees new housing in their new location, whether that means a rental or a . They may even help employees’ spouses or partners find a job in the new location, or offer assistance with getting children into new schools. Bottom line
Relocation companies can make the process of moving to a new location much simpler for displaced or newly hired employees. Not only will they help with the moving process itself, but they can also help you find new living accommodations in your new hometown and help your family settle in there. SHARE: Michele Petry is a senior editor for Bankrate, leading the site’s real estate content. Related Articles