What is the difference between a place's absolute location and its relative location?

Relative location means to locate a place relative to the point of view of a viewer while absolute location is locating a place using a coordinate system. An example of relative location: The house is to your right. Or, the house is right in front of you.

Absolute location would be the location using a coordinate system or other independent system of landmarks. Example: their house is located at 56.4 degrees North and 34.8 degrees west. Or, the house is at 551 Broad Street.
An absolute location cannot be determined easy. The only way it can be determined is by reference to some base or origin.