“That was the easiest move I ever had to make,” said no one ever. The only exception to this would be if an employer offered a relocation package to a potential employee that included purchasing the existing home outright, packing and physically moving all possessions, and paying for all expenses relating to locating and moving into a new home. In that case, it probably would be the easiest move … for the seller. For the Realtor, on the other hand, it provides an opportunity to double the workload and then divide the pay with a corporate entity that has done nothing but demand inordinate amounts of redundant paperwork. Welcome to a behind-the-scenes look at corporate relocation.

When a company decides to relocate an employee, they have the option of hiring a relocation company. These companies either buy the house outright for a fair market value and then they become the new “owners” and sellers, or they wait for an offer to be accepted and then provide the cash to the original owner, at which point the relo company also becomes the new “owner” or seller.

Before even accepting a listing, the Realtor must go through a vetting process. Even if the seller has a preferred Realtor, that agent must be able to “pass” or be approved by the relocation company (hereafter to be referred to as “relo”). The criteria for a relo list agent includes, but is not limited, to the following; 1) Agent must be knowledgeable and resourceful in every aspect of local community life, customs and marketplace, and offer expert analysis and recommendations supported by facts in the market. 2) Agent must be responsive and available. The individual must be able to understand the unique needs of the relocating customer and be flexible in working with time-sensitive schedules and be able to communicate in a timely and useful manner. 3) Agent must be committed and sensitive to the family’s priorities and sacrifices. 4) Agent should have a basic proficiency in employee relocation and navigate through forms and processes. As a side note, aren’t these the minimum standard requirements for any good agent?

One of the first forms I was sent after being approved (which must be done each time there is a relocation assignment, even if it is a company that has previously approved you for another listing) included the following demands: “If you choose to accept this listing, please schedule an appointment to view the home and perform an ERC BMA Strategy Report and photos which need to be sent to our office within 24 hours and must include file number, TRG-174**-18**. If you fail to return these documents within 24 hours, another listing agent will be assigned.”

The first time I received a relocation package with these instructions, I had no idea what all these acronyms represented. ERC could stand for Erratic Realtor Cursing, in which case it may or may not have already been performed, or it could mean Employee Relocation Council in conjunction with a Broker Price Opinion. Likely, it was the later, even though the former was so much easier to accommodate. The results of such were to be reported and sent back on a detailed six-page form written in Times New Roman font size .4 and provided space to respond in the same manner.

After passing through the initial gauntlet of approval specifications and accepted into the cult of Realtors for Relo’s (not an actual term), we are given the go to list the home. Each week, we are required to submit a report of the activity and the feedback as well as justification to either adjust or not adjust price.

Once an offer is received, it must be accepted by the original seller as well as the relo company. There is an additional pile of paperwork that has to be signed to acknowledge that the relocation company is now the new seller. The paperwork also includes backup acknowledgement as well as the addendum to the backup to the acknowledgement. There is another verification to the addendum to the backup and then a splattering of redundant disclosures and required signatures and initials ad nauseum. Any additional addenda, inspection repair requests, date changes or variations of such must go through the same process of approval via forms. The only vehicle for communication is email and if it does not include the assigned file number, it will not be recognized.

Once the buyer’s close, the seller (the relo company) will sign and release keys, at which point we pay them a percentage of our commission for their troubles. Not exactly the easiest deal I have ever done, but still grateful for the opportunity.

Jen Fischer is an associate broker and Realtor. She can be reached at 801-645-2134 or jen@jen-fischer.com.

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