If you are relocating, or may do so in the future, and a relocation company will be involved, it is essential that you understand the role that they will play in your relocation and how this will impact you, financially and otherwise.

Relocation companies operate in different ways, and programs that are offered to transferees will vary depending on the employer and what they authorize, and the specific services the relo company is able to provide.

For example:

• Are they paying closing costs on either the buy side, the sell side or both?
• Are these costs paid up front by the transferee and then reimbursed, or does the relocation pay these fees directly?
• What additional paperwork does the relocation company require during the transaction (e.g., a copy of your signed offer on your current home, the contract on your new home); what records should you keep (e.g., receipts for temporary housing)?
• Is the relocation company doing any direct billing for the services they provide or must the transferee pay for these up front?
• How is the moving company selected?
• Can you select the agent that you wish to work with (for either the buyer and/or sell sides) or is that mandated by the relocation company (however this is determined, your agent(s) will need to work closely with your relocation company to make sure they comply with all requirements.

These are just some of the things you should ask about. Having a written contract and overview of the services, and terms and conditions, is important.

And make sure you have a good contact person who will have knowledge of your transfer and can assist you as needed throughout the transaction.