I'm sure this subject has been blogged about to death but I'm still on the fence on this one. Our office does not have a recommended home warranty company. What's strange about that with us is that we have many recommended vendors for our agents from home inspection to furnace repair and carpet guys to someone to shovel the snow, but no home warranty companies.
After a recent meeting with a home warranty rep, that would like to become our preferred vendor, I was left wondering do home warranties really sell a home. My rep told me that in our market as few as 5%-10% of re-sale homes sold have a home warranty. She also said that other states like California have much higher penetration, up to 50% or more!
Is including a home warranty as part of an agents marketing package a successful tool for obtaining a listing or maybe just good insurance if something does need repaired/replaced during the listing period. Is the added value of including a home warranty when listing a home a recognized benefit for the home owner?
Over the years we have had many Home Warranty reps come through the door, many never to be seen again. We have also seen several companies enter and then leave Colorado in a flash. Understanding this is probably why we have no "preferred" vendor when it comes to a Home Warranty Company. With all the variables in a home warranty having a trusted source is critical when recommend such a complex product to a client.
Just curious, what works for you when it comes to home warranties?
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