Home Warranty Seller Coverage
Hey, it's Greg with Dallaire Realty. I'm here with Jason from Home Warranty Incorporated. This company has a fantastic option that we can offer to our home sellers looking to sell their homes in Northeastern Wisconsin, and that's called Home Warranty seller listing coverage.
What is seller coverage on a home warranty?
Jason, I'm excited that you're on. Could you talk through what seller coverage is? It almost sounds like it's too good to be true, and it's something that Dallaire Realty offers our potential home sellers as an option.
The free seller's coverage that we have does sound too good to be true, but in essence, it works like this. You, the homeowner, list your Home for sale with Dallaire Realty, and you can be covered by our plan as a seller for free for up to six months with no strings attached, meaning you can receive the benefits of our plan just like a new home buyer would in that if something breaks, you'd pay your $100 deductible, and if it's a covered item, we will pick up the remainder of the bill, but
it does not obligate you to provide the plan for your buyer immediately. You may want to choose to do that, or it could be that the buyer that you find some time down the road is asking for this plan, and boom, now it's already in effect. It's easy to convert it from your name to the buyer's. Everybody's all set, so why not take advantage of it?
Make your home stand out by offering a home warranty
Yeah, it's a marketing tool, too as well to potential buyers, and as you said, you can have the coverage and not be tied to it, or maybe it doesn't become part of the offer package, but to get coverage while you're listed on the open market, now, obviously that doesn't cover every single thing.
Seller coverage is different than maybe a little bit of buyer coverage. I know it doesn't cover everything, so I don't want any misconceptions about what it can or can't do, and we'll have some documentation attached below that you can access and read more into that detail. This is not something that's required. This is an option to be able to market your property a little bit differently to the buyer pool, as we're starting to see days on the market increase.
To differentiate yourself from other homes that are on the market is essential.
How to make your home stand out when selling
The old stats nationwide say that a home with a home warranty is offered, on average, sells two weeks faster and for 2% closer to the asking price. In this crazy seller's market, maybe those stats aren't perfectly accurate anymore, but
I mean, if everything were equal, I'd much rather buy the home that already has a home warranty in place for me.
Free coverage while your home is for sale
So what kind of stuff does it cover for the seller? Well, it will still cover all your major systems, you know, your washer, dryer, kitchen refrigerator, electrical system, and interior plumbing.
You alluded to the fact that it works a little differently than buyer's coverage, and you're right, but you can pick up an option for just $75 that's paid upfront. You can include your HVAC system and your water heater as well. So then it works almost exactly like your buyer's coverage. And it works the same in that when something breaks, you pay that first $100 then if it's a covered item, we pick up the remainder of the bill or let you choose to apply that money towards something new.
Yeah, I like that you are so transparent on what it is, I think there's a misconception out there that just because something breaks, the home warranty will give you a brand-new item.
Let's talk about that a little bit. Whenever I've hung out with you, Greg, I've not used the word replace because it's fairly infrequently that we have to replace an item. We will replace it if you know the cost associated with what failed and the labor involved with that exceeds the value of what is new.
But in most cases, we're going to come in and be able to fix an item; obviously, that's how we stay in business and make a profit. We've been doing it for 23 years. So I try to do an excellent job of not overhyping what we do.
I set the bar where it is, and I exceed that. But yeah, in most cases, we're going to fix the item or give your client the ability to take that money and apply it toward new, and that usually helps folks be pretty happy with this.
Dallaire Realty marketing already makes your home stand out this is another option
So if a seller wants to differentiate themselves and be able to market and take advantage of this is an option that Dallara Realty has, and we like to stand out.
We've always differentiated ourselves from a marketing standpoint. We do things other real estate agents need to do and spend money marketing our client's properties. So I'm excited to offer this as an option to differentiate your home from others on the market and make it stand out, and if it sells two weeks faster and sells for a higher percentage point, I mean, that's what my job is.
So Jason, I appreciate you explaining what seller coverage is on home warranties for home sellers in Northeastern Wisconsin.
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