Six Reasons Home Warranties Sell Homes Faster
A systems and appliances service agreement, often referred to as a home warranty, is a huge plus when it comes to selling a home. Buyers want to know that their single largest investment will be protected when a major system or appliance breaks down or fails; sellers can easily provide this peace of mind by offering a 2-10 Home Buyers Warranty® (2-10 HBW®) systems and appliances service agreement to buyers. If you need more convincing, here are six reasons why selling homes without a Service Agreement could be hurting your real estate business.
1. Homes with a Service Agreement Sell Faster
The Service Contract Industry Council (SCIC) did some research and found that protected homes sell, on average, 11 days faster than those without coverage. Your real estate business needs a steady flow of homes being bought and sold to flourish, so why let properties languish on the market any longer than necessary?
2. Homes with a Service Agreement Command Higher Asking Prices
The same SCIC study also found that homes covered by a Service Agreement sell for $2,300 more, on average. If you aren’t selling homes with home warranty protection you could be losing out on a substantial amount of money over the long run.
3. Service Agreements Give Clients Peace of Mind
Why do homes with Service Agreements sell faster and for more money? Because the extra protection provides buyers with peace-of-mind, which is incredibly valuable. This is especially important for first time home buyers, who are likely overwhelmed by the prospect of owning something so valuable. When clients feel comfortable and know that you have their best interests in mind, they’re more likely to refer you to their contacts and to use your services in the future.
4. Without a Home Warranty, Legal Troubles are More Likely
Agents should always be aware of additional ways to limit their legal liability, because getting sued by a client isn’t out of the question. It’s important to carefully document any and all promises and assurances that you make. A Service Agreement is a helpful document that can ensure that if something breaks or fails after the sale, the buyer won’t look to you for reparations.
5. In a Buyer’s Market, Service Agreements are Almost Expected
If you’re doing business in a region where sellers have the upper hand, a Home Warranty Service Agreement is all but expected. Because many sellers will sell their homes with this protection in place, a house that isn’t offering a home warranty stands out on the market.
6. You Aren’t Offering Small Incentives or Gifts to Clients
Real estate business is innately personal, so it’s important to show your clients that you appreciate and value their business and trust. According to Realtor.com, real estate professionals will sometimes purchase a home warranty for the buyers as a settlement gift or as a thank-you for their business. We can’t think of a better gift!
2-10 HBW offers the most comprehensive Home Warranty coverage for homeowners. Let us help you protect your home.