Giving Your Client Peace of Mind
Home warranties are short-term service contracts that help homebuyers cover the cost of repairing or replacing certain components of a home in the first year. A home warranty is different from homeowners insurance, and it's critical to know what a warranty covers before purchasing one.
A home service contract can be an effective marketing tool, instantly giving buyers additional confidence in their purchase:
- Homes with warranties return a sales price that averages 3% higher.1
- 8 out of 10 buyers prefer to buy a home with a warranty.2
- Homes on the market with a warranty included sell on average 50% faster than homes without.3
As a real estate professional, a quick closing and the knowledge that the sold home is protected are keys to transaction success. An agent can protect their clients and their reputation by ensuring every home they sell is protected by a home warranty. Often times, Realtors® can sell homes quicker and at an increased price when the home has a home warranty plan, as it makes buyers feel more confident in their purchase.
1 Business Week Magazine
2 Gallup Poll
3 National Home Warranty Association