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As a real estate professional, why should you care about new home warranties? What’s in it for you?

Here’s 5 perks of having a solid RWC home warranty in place - perks that benefit both you, the builder, and the potential buyer:  

  1. It Just Looks Good
    As a Real Estate Agent, you know the market for new home construction sales is both competitive and complicated. Not only are builders competing against each other for sales, but also against the resale and foreclosure markets. A new home warranty is a distinguishing feature that makes a new home even more attractive to potential buyers.
  2. Quality
    Obviously, the home buyer must qualify under today’s rigid requirements, but the builder may also need to meet certain criteria. Whether a home is financed by a conventional, FHA or VA loan, be assured that a home built by an RWC member is constructed with quality.
  3. Buyer Peace of Mind
    Written, insured warranties provide recourse for repairs for your buyers. If the builder is unable or unwilling to correct warranted defects, the Warranty Insurer steps in. Without a warranty, in these uncertain times, a homeowner might be forced to “go it alone” in a time when the average major structural defect exceeds $30,000.
  4. Protection
    Real Estate agents benefit directly from the warranty in the event a defect does occur. The warranty ensures that either the builder or the home warranty company will rectify warranted defects.
  5. Assurance
    Warranty members have passed stringent screening criteria for professional building ethics, financial stability, and technical competence. As a result, agents are better assured that the home is built by a more qualified builder.

And the benefits of RWC’s home warranties for real estate pros don’t stop there! Discover additional reasons to secure home warranty coverage with RWC.

Residential Warranty Company, LLC (RWC) and its affiliates, HOME of Texas and MHWC, continue to make strides in streamlining the application process for builders joining the group’s elite builder warranty programs. The latest step is to eliminate the inspection requirement* for homes being ‘grandfathered’ (homes that are either under construction prior to membership approval or completed, but not occupied) into the program. Previously, the home warranty companies required that up to 3 homes be inspected prior to membership approval at a cost to the builder of $150 per inspection. By eliminating this requirement, RWC, HOME & MHWC are able to save potential members up to $450 in inspection/application costs.

Joining RWC’s elite builder warranty program is the best way for today’s builders to deal with customer service and risk management issues. Offering a wide variety of unique home warranty options, RWC understands that just one warranty rarely meets everyone’s needs. RWC's “menu” of warranties and services creates comprehensive coverage and effective risk management for the greatest long-term stability.

RWC’s mission is to provide a level of security to builders and their customers and has devoted over three decades to that purpose across the country. Being able to provide a variety of services to members is the result of much hard work and due diligence along the way. RWC has established itself as a rock solid leader in providing home warranty protection. When a builder becomes a member, they benefit from 30+ years of leadership and experience that is unrivaled in the warranty industry.

*Homes over $1 million in sales volume may still need to be inspected. Prospective members may contact the home warranty company for further details.

Residential Warranty Company, LLC is one of the nation’s oldest and largest providers of written insured builder warranties. Builders seeking options in coverage, sensible home warranty protection, and assistance in dealing with customer service, choose RWC. In business for over 30 years, RWC has warranted over 3 million homes and its Insurer is rated “A- (Excellent)” by A.M. Best. An extensive “menu of choices” in both home warranties and general liability insurance is available, enabling builders to reduce their liability and increase the marketability of their homes.

RWC’s new home warranties are packed with “value added” features - features that provide heightened security, resale value, and an important measure of peace of mind for homeowners.

Yes, it’s essential that you have a strong home warranty in place to ensure home protection, but don’t just stop there. There are additional ways to ensure your home holds up over time, including seasonal maintenance inspections.

A part of being a responsible homeowner is checking on things before they go haywire. Inspecting your home on a regular basis and following good maintenance practices is one of the surest ways to keep your home in tiptop shape all year long. Plus, these regularly scheduled seasonal maintenance inspections can help prevent costly problems from occurring.

If you haven’t completed your summer maintenance inspection, there’s no time like the present! There are a number of indoor and outdoor maintenance tasks to complete each summer including repairing walkways and steps, painting, checking your chimney and roof, etc. Though tempting, it’s important that you do not put these important tasks off. If you do, odds are, you will pay...literally.

For a comprehensive summer maintenance checklist, we invite you to use this handy resource.

And remember, if you don’t have the time or energy to conduct these periodic home maintenance inspections yourself, there’s always the option of paying someone! Either way, it’s in your home’s best interest to get these periodic inspections done.

Questions regarding RWC’s home warranties? Don’t hesitate to contact us. Discover the value of an RWC homeowner warranty today!

In addition to our variety of home warranty programs, RWC offers unique features to make membership as effective and efficient as possible - features including Warranty Express.*

Warranty Express allows Builders to enroll homes online. With the click of a button, Builders can submit their enrollments, print out closing documents, and even pay for their home warranty fees. Builders save both time and money spent on manual form preparation and postage. Marketing materials and enrollment reports may also be ordered online. Warranty Express also enables Builders to renew their membership online.

Warranty Express enables you to:

With Warranty Express, you win!

For your convenience, we have a link to the Warranty Express login in the top right hand corner of every page on our home warranty company website. So no matter where you are, when you’re visiting our website, Warranty Express is just one short click away!

* Not yet available for certain enrollments: Colorado, MHWC, RSW, or Condominiums.

** Surcharge in IN and MD still applies for additional coverage required by state statute.

You’ve been looking for a home warranty company and all of your research has led you to RWC. Now, all that remains is sending in your home warranty application, getting approved, and enrolling that first home. What’s the easiest way to put the power of RWC’s written, insured new home warranty to work for your business?

Well, you have choices! Pick the one that is the most convenient for you.

Online:

Fill out our simple online application. Average time to complete is less than 10 minutes! Once you hit ‘submit,' you should get a message letting you know what documentation we may still need from you. We will need things like your registration fee, financial information, what homes you have in your inventory to enroll, etc. After your online application is received, someone from our Membership Department will review it and follow up with you directly.

Paper:

Many of us still like the old-fashioned pen and paper route and that’s no problem either. All the forms you need to get started are available in our Forms Library. Some are even editable online so you can type in your answers and then print the completed form when you are ready to send. The editable forms have an “E” in the number so you can tell at a glance.

Instructions:

Want to review all of the requirements a little more before getting started? Find a comprehensive list of what you’ll need to get going.

If you have questions about our home warranty plans or processes, we are here to help! With over 30 years providing quality, sensible new home warranties, RWC’s expertise is something you can count on. Find your Account Executive and get the company contact information here.

 

Yes, our builder warranties cover structural defects! That structural coverage is just one of the many benefits of RWC’s home warranty programs. Providing an RWC warranty on your homes reduces your liability and assures you that your homeowners are protected for covered structural defects for the entire term of the home warranty.

RWC offers two different types of structural coverage: Major Structural Defect (MSD) coverage and Designated Structural Element (DSE) coverage. During the coverage periods when the insurer is the warrantor, the warranty resolution process includes a free fact-finding inspection by a licensed, professional engineer. After that inspection, RWC determines whether the alleged defect is covered. If coverage is granted, then RWC repairs, replaces or pays the reasonable cost of repair or replacement of the affected structural component.

Here is one case study demonstrating the home warranty coverage we provide and the manner in which we handle homeowner complaints.

Major Structural Defect (MSD) Case Study:

This home was in year 10 of coverage. The homeowner claimed that “the garage foundation has failed, causing cracks, sinking of floor and walls.” He also complained that the damage did not allow a door to function properly.

RWC retained a licensed, professional engineer and scheduled him to perform an inspection of the home. RWC uses the observations and opinions of engineers to make coverage determinations when homeowners allege that their homes have an MSD or a defect in a DSE.

The engineer found and reported that there were foundation wall cracks along the perimeter of the garage and indicated that the cracks were particularly obvious in the area of the main door. Elevation readings indicated that the garage had experienced significant differential settlement and that settlement was an ongoing problem. The engineer gave RWC his opinion that the garage foundation wall had failed. The combination of failure of a structural element, actual damage to a structural element in the form of cracks in the foundation wall, and an adverse effect on safety (the garage main door not functioning properly) satisfied the Major Structural Defect criteria. Thus, we granted the claim.

Next, RWC obtained a repair plan from the engineer. The plan called for the placement of seven hydraulically-driven push piers to stabilize the downward vertical movement of the garage’s foundation wall.

RWC then hired a contractor to visit the home to provide an estimate based on the engineer’s repair plan. RWC offered a monetary settlement to the homeowner in the amount of the contractor’s estimate. The homeowner accepted the offer and executed the required Full and Final Release. The homeowner was satisfied and the claim was resolved without requiring the builder to take any action or pay one dollar to the homeowner.

This is just one example from our nearly 100,000 Warranty Resolution files that shows how homeowners and builders alike are protected by RWC’s home warranty coverage.

Homeowners receive assurance that their homes will be fixed if they experience defects covered by the builder warranty, and builders have their customers satisfied by an experienced and capable Warranty Resolution staff at no cost to them – a great value to both parties!

As hopefully you are aware, all of RWC’s home warranty programs include our effective home warranty resolution process which includes mediation and, if needed, formal arbitration. We are asked from time to time if the system works...or in other words, if the warranty is “worth it.” So from time to time, we like to highlight a specific case study which shows exactly how this process benefits you, our member.

In this case study, the home was in Year 1 of home warranty coverage and was financed through VA/HUD. The homeowner’s request for warranty performance stated: “The duct work is making continuous knocking/ticking noises during every heating and air conditioning cycle.”

During RWC’s mediation, the builder informed RWC that they spent more than 40 hours “without exaggerating” trying to find the ticking while opening up the ceiling, and there definitely was not oil canning. The builder concluded that he had exhausted all efforts. RWC declared the issue unresolved and referred the homeowner to the warranty’s arbitration provisions.

The homeowner completed and returned the arbitration forms and paid the arbitration fee of $950.00. The parties to the arbitration were the builder and the homeowner.

The arbitrator determined: “Residential Warranty Company standards provide that with regard to ‘excessively loud notices’ in ductwork, such ductwork will be adjusted if necessary to eliminate noises caused by oil canning. Therefore, parties during the arbitration agreed in that the reported noise problem is currently not audible. The homeowners stated that they have, in fact, not heard it for some time, and not at all during this air conditioning season. The request of the homeowner is ‘Not Covered’ according to the warranty book. No repairs or other further remedies are necessary for a problem which both parties agree does not currently exist, and one party claims to have never existed. Based upon the above findings of fact, and the award in favor of builder, all costs are to be paid by the homeowners.”

Not only did the builder have a successful award, but he did so in a very timely, economical manner. Additionally, it was not necessary for either party to be represented by counsel.

This is a real case and a perfect example of how the builder’s warranty standards prevent unmerited complaints and support the value of RWC’s resolution process.

Learn more about RWC’s home warranty plans and builder benefits!

 

The recent redesign of our full-color customized home warranty books has been well-received and widely-celebrated by our Members.

We’ve seen a clear uptick in the usage of the full-color books since the redesign indicating that, combined with a boost in building activity, more Members are incorporating the books into their marketing programs and strategies to upgrade their marketing effectiveness.

One builder even expressed to his Account Executive his immense approval of this dynamic marketing tool, commenting that the enhanced look and feel strongly added value to the materials he presented to buyers.

Another large Member contacted his Account Executive immediately after seeing the fresh books to order new supplies for each of his divisions. He also commented that the books “were beautiful and would be very good for their marketing.”

Suffice it to say, the makeover has been a major hit with our Members and has definitely enhanced their marketing efforts.

If you’ve never reviewed our Customized State Warranty program - the most unique and specialized of home warranty plans in the industry - you don’t know what you’re missing. Each customized warranty is crafted specifically to meet each state’s statutes regarding new home warranties. The Builder’s liability is limited and individual state requirements for coverage are included, as applicable. What’s more, RWC’s insurer covers warranted structural failures from day one throughout the entire warranty term.

To learn more about this sensible home warranty plan, the full-color customized warranty books, and our additional home warranty programs, please visit RWC.

Join today to upgrade your marketing efforts!

Note: If you need to increase your supply of sample books, you have two options: 1) Either login to Warranty Express through our home warranty website or 2) Contact our Marketing Department to get what you need: 800-247-1812 Ext. 2105. 

Residential Warranty Company, LLC (RWC) - an innovator in the warranty industry and the nation’s leading new home warranty provider - recently exhibited at the 65th Atlantic Builders Convention presented by the New Jersey Builders Association on March 26 – 27, 2014.

Jana Watts, Senior Account Executive for RWC, was in attendance to answer questions and provide information on all of the numerous warranty, insurance, marketing, and risk management services provided by one of the nation’s leading new home warranty companies.

Hosted by the New Jersey Builders Association (NJBA), the Atlantic Builders Convention (ABC) is the largest regional builder trade show in the Northeast. With state of the art products, innovative services, and educational programs, ABC inspires attendees with countless ideas to aid in the success of their business. It is also an excellent forum for networking and deal-making amongst peers in the home warranty industry.

Jana enjoyed meeting existing clients at the conference, as well as making new contacts to promote the current RWC Membership Drive. For a very limited-time, all new applicants can take advantage of RWC’s special membership discount. From now until May 31, 2014, new members can join for free (a $295 value)!

Also, while at the show, Jana gave away a Google Chromecast HDMI Streaming Media Player to TJC Homes of Raritan, New Jersey. Congratulations, Tim Jones!

Missed the show? For more information on RWC’s new home warranties and membership benefits, visit rwclive.wpengine.com.

ABOUT RWC

Residential Warranty Company, LLC is an innovator in home warranties. Builders seeking options in coverage, sensible home warranty protection, and assistance in dealing with customer service, choose RWC. In business for over 30 years, RWC has warranted over 3 million homes and its insurer is rated “A- (Excellent)” by A.M. Best. An extensive “menu of choices” in both home warranties and general liability insurance is available, enabling builders to reduce their liability and increase the marketability of their homes.

Just like those builders who diversify their projects so that they stay busy regardless of what the economy is doing, RWC is also diversified in its home warranty plans.

We offer warranties for builders who provide remodeling services, construct commercial projects, or even build detached garages. In addition, there are situations in which the traditional 10 year warranty is not a good fit, either for the builder or the project. For those unique situations, RWC’s affiliate, Residential Structural Warranty (RSW), offers 1 year renewable coverage.

If you find yourself in a situation where the ‘usual’ warranty you provide just doesn’t quite fit, give us a call! Odds are we will have a type of home warranty coverage that aligns with your needs.

SPECIALTY HOME WARRANTIES

5 Year Commercial Warranty

5 Year Detached Garage Warranty

1 Year Renewable Structural Warranty

Conversion Warranty

Set yourself apart from the competition in bid situations by including a home warranty designed specifically for your type of project. Click here for further information.