REPOST: Home Warranties Are Worth Their Weight
As a real estate agent, your client is your top priority. You are, after all, in the client services industry, and not only should you aim to help your client, but to also shepherd them through what will likely be the most important purchase they make in their lifetime. With this in mind, it’s important to cover every corner to ensure you’re not only meeting their needs, but anticipating a need before it arises. Enter, the home warranty.
In 1989, Chuck Cochran was working in the audio video industry when the value of his home, purchased only two years prior, went up 80 percent. As his home value rose, Cochran got really into monitoring the local housing market. Soon, his friends were coming to him for real estate advice, and he realized his passion for housing could be a viable career path for him.
Today, Cochran is an agent with Coldwell Banker in San Mateo, Calif., closing between 13 and 20 transactions a year. His average sales price is $1.6 million, and he prefers to focus on listing quality over quantity. He has been in the real estate business for 30 years, and his clients have been taking advantage of the coverage offered through American Home Shield® (AHS®) for nearly as long.
The home warranty provider’s superior account executives, who are always available, are an integral piece of the puzzle when it comes to meeting the needs of today’s buyers and sellers. “They go the extra mile and are always easily accessible to help answer questions,” says Cochran, who gets notified when a client utilizes their warranty.
In fact, according to Cochran, about 85 percent of his clients make use of their AHS home warranty within the first year of their home purchase. When it comes to pre-sale, about 40 percent of his sellers who are AHS contract holders contact their AHS account executive after the home inspection, but before the home hits the market.
Post-sale, AHS acts as a bridge between the buyer and the seller. “If someone gets the keys to their new house and the burner doesn’t light on the cooktop, it can be fixed if covered under the home warranty instead of them going back to the seller,” says Cochran. By nipping the problem in the bud, the entire home sale runs smoothly.
Cochran is such a believer in the power of a good home warranty he has one on his own home. “I personally started with AHS about five years ago after talking to my manager, who has had an AHS warranty on his house for 20 years. Every year it’s worth its value.”
For more information, please visit www.ahs.com/realestate.