Career Relocation Considerations: Saving Time, Money and Energy

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Moving for career purposes tends to bring with it a mix of emotions – excitement because you’re starting a brand-new career elsewhere and anxiety because there’s so much to do. Advance planning can be incredibly helpful and keep stress levels down. Knowing you’re prepared will give you peace of mind, and slowly and steadily chipping away at move-related tasks out will help you save time, money, and energy. The LA Loft Blog covers some essential considerations you should make to pull off a career relocation without a hitch:  

Check if your employer offers a relocation package 

This is a no-brainer but worth mentioning — many employers offer a relocation package that covers your moving expenses, assistance with accommodation, assistance moving, and some monetary compensation. Asking for help from your employer will significantly reduce your burden. If they don’t offer a relocation package, you may be able to negotiate one. Furnished Quarters offers a useful relocation guide.  

Organize yourself and create a checklist of moving tasks 

Creating a paper or digital spreadsheet with a list of tasks you need to perform, organized by timeline, will make your move significantly easier. MYMOVE offers a complete checklist you could follow. They recommend preparing for your move 2 months in advance. You should involve your family in the planning and make sure everyone is on the same page about what needs to be done.  

Create a move and living expenses budget 

Moving can be expensive, with an average long-distance move costing $4,890. U.S. News Money advises to start saving for it a year in advance to avoid a cash crunch. Some expenses to account for are rent (possibly for two places), security deposits, packing, moving expenses, professional expenses (like cleaning), and transportation. Furthermore, you should research the living expenses at your new location. There can be an enormous difference – in a bad way – and you may need to set aside enough until you get your next paycheck.  

Consider your family’s needs carefully

If your family is coming with you, you’ll need to account for their needs. Some examples are schools, healthcare, entertainment, socialization, and home-related needs. Moving can cause severe anxiety and stress in children. Make sure you talk to them in advance and provide a safe, familiar routine to help them get settled in faster. Creating a self-care plan for the family may also be a good idea. 

Find a place to live as early as possible 

Securing a place to live can take months, especially if the property market is hot. After talking to your family, start hunting for a house as early as you can. Figure out how much home you can afford and then research average home prices in desirable neighborhoods if you’re buying or rental prices if you’re renting. 

For instance, Echo Park is a popular neighborhood for families in LA. The average home costs upward of $1.3 million to buy and upward of $2,000 to rent. You can view online home listings to find something suitable. You can filter by price, home type, and the number of bedrooms and bathrooms. If you can’t visit in person, you can view listings with virtual tours remotely.

Pick an LA Loft 

Lofts are an excellent option for young working professionals with families. They’re convenient to lease or buy and, more importantly, convenient to maintain. You can pick an LA Loft Blog tour to learn more about this option. We’ll show you some promising options in popular neighborhoods that match your budget and your family’s needs.  

Book reputable movers (and other professionals) weeks in advance 

Finding good movers can take some doing – you should ask for quotes and check reputations – and then you need to ensure they’re available when you need to move. Booking movers early to lock in their services. You may be able to get a discount this way too. The same goes for other professional services you may need – cleaners, pet sitters, nannies, handymen, business agents, and more. 

Putting items in temporary storage is an option 

Your movers will help you pack, but you should begin de-cluttering and getting rid of items you don’t need early. If there are items you aren’t ready to let go of, you can put them in temporary storage until you decide what to do with them. Storage units in L.A. are an affordable option – A 10` x 5` temporary space costs $125. Some storage centers also offer discounts to new customers. 

Double-check the paperwork and legalities

You’ll need to get your documents in order before the move. Preparing a family binder for everyone’s important documents – medical records, school records, identity documents, and more – can help. You will need to arrange for your mail to be forwarded. Some subscriptions – like utilities and internet – may need to be stopped or transferred. Moving out of state will involve complying with different tax regulations. 

Moving your business to a new state may require additional paperwork 

When you’re moving your business permanently out of state, you will need to dissolve it in your current one and reform it when you move. This involves paperwork, including registering your LLC (or other business structure) in your new state. You can avoid big lawyer expenses if you fill in the paperwork yourself or use a formation service. Every state has its own rules about LLC or corporation formation. Do your research before you move ahead to avoid problems.

Don’t make expensive mistakes 

Moving can be incredibly challenging, especially if you’re doing it across state lines. It’s a good idea to read up on common moving mistakes so you can avoid repeating them. Some examples are not decluttering, not using professional movers, doing everything last minute, not saving up, moving during a busy time of the year, and not planning your move beforehand.  

Conclusion 

Getting organized is key to making your career relocation go smoothly. Make sure to include your family in the process – they can help you pull it off successfully, not to mention they need to pack too! Using professionals for major tasks – whether that’s movers for moving or realtors for finding a house – can be a worthwhile investment and help you to keep the costs down. 

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Relocation Confusion

Making a move is rarely an easy process.  There are often a great many steps that need to be taken, with advance planning required, and with a large financial outlay at stake. #relocation #moving #dtla

Most relocation companies focus on moving, storage and resources for helping to find a new home or office.  Some relocation companies, however, have real estate revenue in mind as well. A recent Downtown Los Angeles home seller recently had some confusing issues arise from a relocation company provided by the transferring employer.

Early in the listing period, the listing agent received a concerning call from the seller, who had been difficult to reach by phone. The home seller asked the listing agent to contact and coordinate with the relocation company.  The agent called the relocation company, which was attempting to get a referral fee for referring the home sale to another real estate company.  The only problem is that the listing agent, (a successful specialist in the condo building that has a 55.6% failure rate) already had a listing agreement with the home seller, and the relocation company was apparently not respecting the pre-existing agent-client relationship.

The relocation company talked to the home seller again, seemingly to pressure the seller into cancelling the listing agent’s agreement by threatening to take away the relocation benefits due to a lack of “compliance”. This left the seller feeling very concerned that the listing agent was not complying fully with their process. The employer offers wonderful relocation benefits and the home seller cannot afford to lose them. The seller can’t proceed without complying with the employer’s policies.

The home sellers asked for the listing agent’s assurance that they will comply completely with what the relocation company needs from the to act as the seller’s realtor? If not the seller will have to cancel the listing agreement.

The listing agent and senior agents had never seen a relocation company behave in the manner.

Relocation companies do not usually interfere with hired brokers, and it is usually unacceptable in California for brokers to interfere with other brokers and their clients. In this unusual situation where the relocation company really wants to make real estate money, the seller and listing agent need to know exactly what they and are being asked to comply with. The relocation company needs to explain how and why the home sale is allegedly causing the seller to lose relocation benefits, and exactly what benefits stand to be lost.

The seller became concerned enough as to put off showing the home to prospective buyers. This is very serious, and of great concern that any company could be possibly make the home seller lose money by threatening or otherwise causing the seller not show their home to buyers. The listing agent must take extra care to make sure this situation is handled properly for the seller client.

First of call, we want to make sure the seller doesn’t lose $17,490 to $39,750 on their real estate transaction while trying to gain what is commonly only $1,500 to $3,000 of relocation services. Those are the approximate amounts at stake by switching from the best home sale plan to a less effective idea in order to seek relocation services that most home sellers do not feel they need. It appears as though one home seller was being steered off-course, away from a highly successful home sale plan, toward a plan that is questionable, by a non-real estate expert, a completely unknown salesperson.

Relocation companies typically focus on their core competency of moving furniture. Most employers and home sellers do not employ a relocation company at all because the costs outweigh the benefits.

Listing agents need to cooperate with relocation companies even though the relocation company may have no interest or expertise in complying with real estate industry best practices, such as not interfering with broker-client relationships. Relocation professionals are not usually real estate agents, thus they have no ability and no requirement to represent the seller’s best interests regarding a home sale.

Real estate transactions are far more valuable and important than relocation services. The vast majority of home buyers do not use this kind of relocation service. Downtown loft and condo sellers usually obtain best results from a local area specialist who is obligated to look after the seller’s best interests with guarantees in writing. A successful home sale plan is a big deal to throw away. In fact, using out-of-area agents is one of the most common big mistakes in Downtown Los Angeles real estate.

Jeopardizing a home sale based on pushy, threatening sales techniques of a unknown relocation company is guaranteed to be a big mistake. Relocation companies are not real estate companies. Some relocation companies go as far as offering the seller an uncommon real estate transaction like a BVO with unknown tax implications, out-of-area broker referral or other inferior transaction. With these unorthodox home sale methods, the condo unit is likely sell for far less than the full market price. Instead of these sketchy methods, Downtown sellers particularly benefit from using a proven Downtown specialist who has a list of buyers, and a history of very successful sales in the neighborhood.

The listing agent called again and discussed compliance requirements with the relocation company, and provided additional information, including the date of the signed listing agreement. The relocation company confirmed by email that the company will not interfere with the home sale, confirming that they will not ask for additional requirements. But if they should need anything, the listing agent agreed to cooperate fully. The home seller will not lose relocation benefits.

If the seller is not yet ready to sell, then the listing agent should be 100% on board with taking as much time as necessary, otherwise the home seller should be sure to get all pertinent relocation benefits information in writing from the relocation company and employer.  Home sellers should not jeopardize a successful home sale plan all based on a verbal promise by an obscure salesperson.

The seller has the most successful possible plan for a home sale that will get the seller $17,490 to $39,750 more than average agents or inferior home sale options.  The listing agent reminded the home seller client to let other real estate professionals know that the seller has a listing agreement so that they may not push or hassle the seller.

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Copyright © This free information provided courtesy L.A. Loft Blog and LAcondoInfo.com with information provided by Corey Chambers, Realty Source Inc, BRE#01889449 We are not associated with the homeowner’s association or developer. For more information, contact (213) 880-9910 or visit LAcondoInfo.com Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental. This is not a solicitation if buyer or seller is already under contract with another broker.