As a real estate agent, you’re always focused on clients: what they need, what they want, and how to streamline the home buying and selling process. When a seller puts a home on the market, you know that it’s a stressful time. You want to make sure that you’ve priced the home right, marketed it to the right people and done everything in your power to find the best buyer for the property.
One of the biggest concerns a seller has when putting a home on the market is finding problems on the home inspection that make the home less valuable or desirable. Or, heaven forbid, if something breaks down while the home is on the market! Knowing this, you’ve probably already purchased home warranty listing coverage for your seller. But what about the potential buyers that are seeing the property? By protecting the buyer of the home, you can sell the listing faster and for more money.
What is Listing Coverage?
Listing Coverage from Landmark Home Warranty is a free service that Landmark provides for real estate agents and their listings. Landmark covers the same items as its Essential Package for no cost to the seller or agent while the home is on the market. The only thing that’s different between the plans is that Landmark has a cap on how much money they pay to repair or replace the home’s failed systems or appliances. In the home warranty contract, Landmark offers this coverage with full faith that real estate agents will purchase a home warranty for the buyer after the home is sold.
This listing coverage can help sellers if a main system or appliance breaks down from normal wear and tear while the home is on the market. It can also help if a home inspection finds something has failed from normal wear and tear. Many real estate agents protect their buyers through this listing coverage.
Why Buy a Home Warranty for the Buyer?
So, why should a real estate agent and seller take the home warranty one step further and provide a home warranty for the buyer? Advertising that the home comes with a protection plan from Landmark Home Warranty can make a home sell faster and for more money, according to a study completed by the Service Contract Industry Council.
Sell the Listing for More Money
According to the study, homes that offered a home warranty service contract for buyers after the home’s sale sold for $2,300 more on average than those did not.
A home buyer won’t be more likely to purchase a home with just listing coverage on it because that doesn’t protect the buyer … just the seller. However, buyers are willing to spend a little bit more on the home’s sale when they feel more at ease, knowing they will be protected from failed systems and appliances once they move into the home.
Sell the Listing Faster
According to the same study, sellers who offered a home warranty on the property often sold their homes 11 days sooner than those that did not include a protection plan.
Home buyers see a home warranty as valuable because it provides security that if something does fail from normal wear and tear, they can save money by relying on a home warranty plan to repair or replace it.
What Does a Home Warranty Cover?
If you include a home warranty for the buyer, the home’s heating, cooling, plumbing, and electrical systems are covered. Appliances like ovens, dishwashers, ranges and cooktops, fridges, and washers and dryers are also included in home warranty plans. Landmark Home Warranty provides protection from rust, sediment, and lack of maintenance from the seller or previous owners.
Learn more about what a home warranty covers by looking at the home warranty plan options.
Want to transfer existing listing coverage into a home warranty for a buyer? All you have to do is fill out this form: