National Home Warranty day was only a few days ago (February 10), an honorary day that probably didn’t hit the register mark on your daily radar. But Valentine’s Day is a different matter, and being that today is Valentine’s Day, the day of love, we give you no less than 5 reasons your business will fall in love with home warranties:
1. HOMES WITH HOME WARRANTIES SELL FASTER
If you’re an agent that primarily deals in listings, take note that homes with Seller’s home warranties have a better chance of selling more quickly than those that don’t. Statistics show that adding a home warranty plan to your listings can help sell homes faster and for more money. This gives your seller more peace of mind, knowing that systems that might fail during the listing phase are protected by a home warranty. Additionally, this helps you win the listing. As an agent you can offer this as part of your listing package which will give you a competitive edge for winning more listings. And make sure you note this on your signage–Fidelity National Home Warranty offers these handy riders free of charge.
2. BUYERS LOVE HOMES THAT COME WITH HOME WARRANTIES
Did you also know that a Seller’s home warranty will pass to the buyers at closing? This is a great way to pass on peace of mind and draw more buyers to your listings. A home warranty that conveys at closing could make the critical difference between your listing selling above another that was neck and neck with yours.
3. CLIENTS REMEMBER AGENTS WHO GAVE A HOME WARRANTY AT CLOSING
For a minimal fee ($400-$600 depending on the type of home warranty) you can offer your buyer clients the very functional gift of a home warranty. Many top agents do this as part of the cost of doing business, knowing that there are many dividends from this gift that will pay off later.
4. A HOME WARRANTY PROTECTS YOUR REPUTATION
There is nothing worse than closing a deal only to have numerous problems pop up after closing. Often these problems revolve around home systems that fail shortly after closing. Whether it’s a broken water heater or a malfunctioning range, these home system failures can often lead to frustrated clients that will turn to you for answers. Having a home warranty in place at closing keeps you off the hook and gives your clients a place to turn for real solutions. (Note: Always read your contract for coverage, limitations and exclusions.)
5. A HOME WARRANTY PROTECTS YOUR LIABILITY EXPOSURE
Specifically, a CRES Advantage Home Warranty Plan by Fidelity National Home Warranty offers some amazing benefits tailored to real estate agents when it comes to risk management. Specifically, a CRES Advantage Home Warranty Plan gives (1) 13 months of home warranty coverage; (2) $50,000 of Seller’s E&O Coverage via the Seller’s Protection Plan; (3) A Possible Deductible Reduction of up to $5,000 on the Office’s E&O Insurance with CRES. (Certain restrictions apply, so be sure to go to CRES Advantage Home Warranty Plan by Fidelity to learn more.)