Have a listing that just isn’t moving? Is it an older property? Might it attract first-time buyers?
More Real Estate Licensees Purchasing a Home Warranty Plans
It’s becoming increasingly common for real estate professionals to purchase a Home Warranty Plan for clients as a way to build customer loyalty. That’s especially true for older, hard-to-sell properties that have been stagnating on the market. It’s a strong selling point and an ideal opportunity to differentiate the listing from the competition.
Buying a Home Warranty for the property can help your seller in two ways:
- Properties with Home Warranties typically sell faster and for more money
- A CRES Qualified Home Warranty t(hat a CRES member purchases) comes with up to $50,000 in Seller’s E&O Protection ̶ insurance that will protect your seller for 180 days after closing, and cover not only damages but legal fees as well.
And that’s not all. When you purchase a CRES Qualified Home Warranty and give it to your buyer or seller, you reduce your out-of-pocket claims cost up to $2,500.
Aren’t All Home Warranties the Same?
Not all home warranties offer the same level of coverage and service. At CRES, we’ve partnered with the leading home warranty companies to provide CRES members with the best possible coverage and service. CRES Qualified Home Warranties also provide expanded benefits that are not available anywhere else.
From the home warranty term, to included items, and unique options, it pays to shop around for home warranties that include more benefit, like:
Structural Coverage/Waiver Option: The most expensive part of the home you’re selling is the construction. So a home warranty that offers construction coverage may help attract buyers ̶ or seal a deal. CRES Qualified Home Warranties have a unique structural coverage/waiver option to give homebuyers $10,000 in coverage. When you purchase a CRES Qualified Home Warranty, you can add the structural coverage option, or you can get the waiver signed to reduce your liability.
13-Month Term: Some CRES Qualified Home Warranties (from First American Home Warranty) include an extra month for 13 months of coverage.
Re-Key Service: Most CRES Qualified Home Warranties include a one-time re-key service for the new buyer.
No Dollar Limit on A/C Refrigerant: you’ll find some CRES Qualified Home Warranties include no limit on refrigerant and an unlimited number of HVAC units covered
SEER Compatibility: some CRES Qualified Home Warranties ensure that any replacement equipment is compatible with the new SEER regulation, and any new items are compatible with existing equipment.
Water Heater Efficiency Standards: Under some CRES Warranties, any replacement water heaters will meet National Appliance Energy Conservation Act (NAECA) efficiency standards.
Even with properties moving quickly in some markets, buying a home warranty for one of your listings can be highly useful. It’s still hard to get into the property market for some first-time homebuyers. And after paying top dollar for the property, some new homeowners may find it hard to pay for repair or replacement costs. A Home Warranty takes the stress out of home ownership, especially if living in an older home with aging appliances.
Where Are CRES Qualified Home Warranties available?
CRES Preferred Home Warranties are available in these states:
- New Mexico
Purchase a Home Warranty Plan for Your Listing, Get Benefits for You as a CRES E&O + ClaimPrevent® Member
CRES offers real estate Errors and Omissions insurance policies that are specifically designed to cover real estate risks. As a CRES E&O Member, you’ll also have access to qualified attorneys to provide you with legal advice for your real estate business 7 days a week.
And when you purchase a CRES Qualified Home Warranty, you’ll reduce your out-of-pocket claims cost by up to $2,500.
Learn more about CRES Qualified Home Warranty Plans
Call us today at 800-880-2747 for help in choosing the right real estate E&O protection at the right price for your business. We’re part of one of the largest insurance brokers in the world, so we have access to carriers and product options that few others have.