Landmark Home Warranty’s Listing Coverage: Everything You Need to Know
As a Realtor, you know what sells a home. You’ve helped your seller stage, paint, clean, organize, add curb appeal, and more to get a buyer to bite. But have you ever considered including a home warranty as a part of this process? Not only can a home warranty plan help provide ease a buyer’s worries when considering a property, it can also benefit the seller by helping to protect against unexpected covered repairs while on the market. How? With Listing Coverage!
Landmark Home Warranty offers many home warranty plans for home buyers, but some agents may not know that we also offer Listing Coverage for homes on the market, for no charge! Read on to learn more about the coverage, how to order, and how to use a Listing Coverage contract. Or, watch this tutorial on how to order and convert listing coverage to a full home warranty plan:
What is Listing Coverage?
Listing Coverage, also known as Seller’s Coverage, is a home warranty plan that is designed to help protect a home from covered breakdowns while on the market. If you are going to include a home warranty plan in the contract of sale for a home, you should consider adding Landmark’s Listing Coverage to help protect the seller’s home before closing! Landmark Home Warranty offers this coverage at no charge and it functions the same as a normal home warranty plan, with just a few stipulations.
While Landmark’s Essential Plan provides a full year of coverage, Listing Coverage lasts for 180 days or until the home is sold. A majority of the same system components and appliances are covered as in Landmark’s Essential Plan. (Some states have a few items that are not covered. Make sure to look at a brochure for your state to know what is and is not covered under a Listing Coverage contract.). When a covered system or appliance breaks down, the service call process is the same and the seller still pays the applicable service call fee. Unlike the Essential Plan, which has no overall cap for covered repairs and appliances, and just some monetary limits on specific systems and appliances, Listing Coverage has a $1,500 overall cap. This cap is lifted for the home buyer if the Listing Coverage is converted into one of Landmark’s home buyer plans at the time of closing. (You’ll want to look at the complete coverage for Landmark’s Home Warranty plans by downloading a brochure and comparing which plan you want to convert the listing coverage contract to.)
What does Listing Coverage cover?
Landmark Home Warranty’s Listing Coverage covers all the same system components and appliances as our Essential Plan, including components of a home’s:
- Heating system
- Cooling system
- Electrical system
- Plumbing system
- Major home appliances, such as ovens or dishwashers
Make sure to go through the home warranty contract by downloading a brochure here and reading everything that is covered in the Seller’s Coverage contract!
Is Landmark’s Listing Coverage Actually Free?
There is no premium for Listing Coverage on a home, and it is expected that the seller will convert that coverage to a buyer’s warranty to help ease their worries about how long their systems and appliances will last after closing. If a covered system or appliance breaks down during the Listing Coverage contract term, a seller will pay the service call fee for diagnosis and to get the repair or replacement completed. Because of the monetary limit for the contract, a seller might have some out of pocket costs on a more expensive covered repair, like an HVAC unit for example. It is important to set that expectation with your sellers, so they are aware.
Why Should You Get Listing Coverage?
Imagine putting a home on the market just to have the dishwasher go on the fritz or the air conditioner go out a few days later. Listing Coverage can help ease a sellers concerns and keep them from enduring expensive covered repairs and replacements while they try to find a buyer for their property. Having listing coverage can really save the day for a seller, much like it did in this story when the sellers air conditioner went out a few days after putting the home on the market!
Not only does Listing Coverage help to protect your seller, offering a home with a home warranty in the contract sale can help provide buyers feel secure with their home purchase. They don’t have to stress that a covered system or appliance will fail right after purchasing a home… if it does, Landmark Home Warranty will be there to help fix it! Many real estate agents anecdotally claim that including a home warranty on a property helps it to sell!
How to Order Listing Coverage for Your Seller:
1. Go to www.landmarkhw.com/order/realestate
When you get to this screen, it will ask you your role in the order. In this case, you’ll be ordering as the listing agent. When you select “Listing Agent” you’ll be asked if you’re purchasing Buyers’ Coverage or Listing Coverage. Make sure to select Listing Coverage!
If you’re signed into your account, your information will populate in this field automatically. If not, you’ll need to either search for yourself in Landmark Home Warranty’s database, or, if this is your first time ordering with Landmark, add yourself as a new agent.
2. Select the Property’s State
Select the correct state that the property is in. Once you’ve selected it, the Essential Plan listing coverage will pop up. Select that and click next.
3. Input the Property’s Address
Make sure to input all the information for the property’s address here. Then, click next!
4. Confirm the Order, and Submit
After ensuring everything looks correct with the order, click submit, and you’ve purchased! You can download the contract for the listing coverage plan or the invoice.
How to Convert Listing Coverage to Buyer's Coverage
1. Log in to Your Account at www.landmarkhw.com/account
If you’ve never logged in to Landmark Home Warranty’s website before, that’s OK! Use this article about how to add yourself to our database and get an account. (Make sure to use the same email that you used to purchase the listing coverage!
2. Go to the Orders Tab
Find the Listing Coverage contract you want to transfer over to the buyer. Click on it.
3. Click the “Order Full Contract” Button
This will take you to the ordering process. Order a Buyer’s Coverage contract. You can follow the steps of ordering by reading through our article about How to Order a Real Estate Home Warranty Plan. The property details you have provided for the home warranty plan will transfer over. You just will need to select the plan and add-ons, as well as input the home buyer’s information.
Once you have purchased the home warranty plan, the buyer will be protected from covered repairs and replacements after closing and after the home warranty has been paid for by the responsible party.
How to Use Listing Coverage
Once a Listing Coverage contract has been processed in Landmark’s system, your seller can open a home warranty claim. They can follow the same steps outlined in our article on opening a service request online or call in to talk to a customer service representative. They will pay the applicable service call fee and a contractor will be assigned to diagnose their failed system or appliance. If the system or appliance is covered under the contract, Landmark Home Warranty will repair or replace it! If the repair or replacement is more than the $1,500 cap, Landmark Home Warranty will pay up to the limit and the seller will have to pay for the rest of the repair or replacement. Make sure to give your seller a copy of their contract so they know what to expect when opening a service request!
Home Warranty Education
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