Like a phoenix rising from the ashes, Buyer incentives are re-emerging in transactions. As a successful agent, you can give your Buyers and Sellers an edge by evolving with the market with help from 2-10 Home Buyers Warranty (2-10). Here’s how.
The Data on Incentives
According to Redfin:
A record share of home sellers [is] giving concessions to Buyers. Buyers received concessions—such as money for repairs and mortgage-rate buydowns—in a record 42% of home sales in the fourth quarter, up from 31% a year earlier. Pandemic boomtowns including Phoenix and Las Vegas saw among the biggest increases in concessions.
This is a massive shift. Additionally, experts predict that providing incentives will continue.
Which incentives are most popular?
According to the Redfin report, the most popular Buyer incentives include:
- Rate buy-downs.
- Cash for repairs or closings.
- Warranties on household appliances.
In the past, home warranties (Home Service Plans) were the most popular Buyer incentive, especially in boomtowns in the West and Southwest.
The newest data from Redfin show that most metro areas are offering Buyer incentives again, which positions Home Service Plans to be a difference maker for agents, Buyers, and Sellers.
How a 2-10 Home Service Plan Helps
Where to begin? A 2-10 Home Service Plan can do so much for agents, Buyers, and Sellers. Let’s focus on three major benefits a 2-10 Home Service Plan can offer.
Coverage your clients deserve
Add the industry-leading home service plan to your agent tool kit.
1. Helps address buyer’s remorse
First, buyer’s remorse is still incredibly high. One of the main causes of buyer’s remorse is the high price of maintenance and other unexpected costs. This includes unexpected breakdowns to home systems and appliances.
A 2-10 Home Service Plan can help reduce the costs of unexpected breakdowns for Buyers. This speaks directly to a pain point Buyers have. Plus, it helps sweeten a deal when Sellers offer a home warranty to protect Buyers after the sale.
Better still, Buyers can access the 2-10 Maintenance Guide when they have a 2-10 Home Service Plan. This guide can show Buyers how to maintain their home’s systems and appliances, which could help reduce the likelihood of breakdowns.
2. Protects Buyers and Sellers against the unexpected
Second, Seller Coverage can help protect the transaction when items break down unexpectedly. When Buyers have peace of mind that they won’t be inheriting a major, covered problem, it can smoothen the transaction and make you look like a hero.
Few things can derail a sale worse than an unexpected HVAC breakdown or plumbing problem. With Seller Coverage, you can offer a solution to potential problems that makes your Sellers’ homes look even more attractive.
Better still, Seller Coverage is complimentary.*
3. Includes industry-leading HVAC coverage
Finally, heating and cooling regulations are constantly changing. Fortunately, 2-10 offers the industry’s leading HVAC coverage that evolves with regulations.
2-10 HVAC coverage includes SEER matching for compatibility, unlimited refrigerants, and no trade limits. This can greatly reduce out-of-pocket costs to address HVAC breakdowns for your clients.
Additionally, HVAC coverage applies no matter how old the system is and no matter what current regulations require. With regulations slated to change yet again in 2025, a 2-10 Home Service Plan can be a powerful tool to protect your clients, along with your transactions and reputation.
Conclusion: Enroll All Your Homes with 2-10
The pendulum of the housing market never stops swinging. To give your Buyers and Sellers an advantage—and to protect your transactions and bolster your reputation—make sure you’re taking the right step of offering a 2-10 Home Service Plan, which includes the industry’s leading HVAC coverage and more.
Providing a trustworthy home warranty is just the start of your relationship with 2-10. We help you go the extra mile for your clients because it’s what you want and what you both deserve.
Your clients need a hero to guide them toward happy home ownership. And you want a way to protect your transactions and reputations. A 2-10 Home Service Plan can be a powerful way to address these desires.
Give your clients and your business the protection they need. Attach a 2-10 Home Service Plan to every transaction.
*Where allowed by law. Seller Coverage is $60 in Florida and includes A/C and Heat Pump coverage. See Home Service Plan for details.
