I want to sell my house. Should I offer a home warranty?
In a word, Yes.
Selling a house follows the same basic principles of sales and marketing as other products.
The 4P's of Marketing
- Product
- Price
- Place
- Promotion
Warranty affects the 'product' segment of the home sale. Its an outstanding differentiator between your home, the product, and the other homes on the market, the competition.
Buyers approach buying a home with a mix of excitement and terror. Every buyer is afraid of buying 'the money pit' as shown the Tom Hank's movie of the same name or as described in neighborhood backyard BBQs the world over.
Offering a warranty not only makes the home more marketable and appealing, but it can make the difference between a buyer choosing your house versus another house. A home warranty helps remove some of the fear of the transaction from the buyer - making it easier for them to go forward with the purchase of your home instead of the other guy's. That's the goal right? Selling the house? So why not use the best available means to achieve a sale. Offer the warranty, already.
