Research indicates that homes with warranties sell faster. This conclusion has been reached by comparing the time it takes to sell home with warranty and those without warranty. Here are three reasons why market experts think that home warranty is needed to sell a home faster.
Home buyers are becoming sophisticated
Home buyers recently have shown that they are very knowledgeable about everything related to home systems, home warranties and home insurance. Studies have shown that homes with warranty sells within ten days or less on the market and sell at prices more than those without warranty. Both the parties win when there is home warranty; the seller gets more money, and the buyer gets peace of mind that expensive appliances won’t break.
It is a marketing tool
Like home pictures, virtual tours, and other tools, a service agreement or home warranty is an important marketing tool that makes your home stand out in the market. Home warranties are transferable; so they can be used to protect the seller from unexpected repair during the closing process. When the buyers know that they only need to pay minor charges if expensive appliances break down, they will feel motivated to buy the particular house.
Offers competitive advantage
When real estate agents show their understanding of process, pricing and value of a home warranty, they demonstrate to both the buyer and the seller that they have the in-depth knowledge about the market. If a buyer chooses between two properties that have the same location, square footage, price, etc. then a home warranty can help you make the right decision.
Home warranties not only help to sell homes faster but also provide better resale value as the homeowner invests in maintenance works regularly. Home warranties can give you comfort and protect you from unforeseen incidents.