Top Rated Home Warranty Plans in Competitive Real Estate Markets
Home Warranties in Competitive Real Estate Markets
Within the past few years, the housing market has been significantly risky. More volatility in the competitive market continues to pose concerns for buyers, sellers, and agents today. Home warranties are one way that buyers and agents are attracting and closing eager buyers. In this article, we’ll explore why.
How do Home Warranties Help?
Having a home warranty can help you stand out in the competitive market. Although a warranty is not a guaranteed solution to problems that may come up during (or after) a sale, it is one way to make sure unexpected accidents will be dealt with— without breaking the bank.
Everyone involved in the real estate market today can benefit from a home warranty.
Purchasing a home with a warranty already in place provides buyers peace of mind and big savings, in case an appliance or home system were to fail before move-in.
Sellers also face mental and financial ease when they include a home warranty. Since so many closing agreements require the home to be in the same condition as when the buyer first viewed it, having to replace a sudden HVAC breakdown during escrow costs thousands of dollars. That’s not a fun situation to be in when you thought your responsibility for the home was almost over.
Real Estate Agents
Many top real estate agents know this, which is why they might show homes and include warranties during the sale. Why are so many of them latching on to this added perk? It makes them stand out.
Fewer Inspections, More Unexpected Repairs
In such a competitive market, many buyers feel tempted to skip over the time it takes to conduct a proper home inspection. This leaves a lot of grey area in knowing the real condition of the home before moving in.
Current housing statistics from the National Association of Realtors show that sales are down (as of February and March 2022). The longer a home is on the market, the more it may be prone to costly repairs. Combine that with the decrease in home inspections, and neglecting some type of home warranty may end up costing everyone.
Building Trust with Buyers
Another way home warranties help you beat the competition? It builds trust throughout all stages of a sale. People want to complete transactions between those they can trust. Home warranties make this possible between buyer and seller, agent and seller, and everyone in between.
What Type of Home Warranty is Best in Today’s Market?
Whichever side of the housing market you’re on, finding the best type of home warranty is key to keeping up with the competition. Different warranty companies provide different coverage plans and agreement terms, so it’s best to look for a plan that offers coverage for what you need.
From common home appliances to whole-home systems, Elite Home Warranty has you covered. Check out custom home warranty plans where you can select the items you want protected, from kitchen appliances to electronics and pool equipment. Contact Elite Home Warranty today to learn more about one of the best home warranty plans in the nation.