How to explain Warranties to a Potential House Buyer
Here are a few tips when it comes to selling houses that can be applied to smaller investments too.
Customers want assurance that their choice of any product is the best. As such, sellers have to assure them that whatever they're buying will last longer, and if it doesn't, they will be allowed to return it. That's why both the business owner and customer need a warranty. Entrepreneurs can use warranties to set expectations so that buyers can know what they're getting into in case they need to return or fix the item. Guarantees also serve as protection for both parties. For example, companies use their warranties to spell out things that they will cover in case a customer decides to return the product. Warranties also give a real estate agency a leg up. For example, a potential home buyer will probably buy a house that comes with a home warranty if presented with two properties of the same price. Businesses are also using guarantees as a strategy to encourage repeat purchases. Of course, customers will refer their friends or buy back from a brand that they can trust. The following are tips for an enterprise to explain its warranties to potential home buyers.
Clarify the Uses of a Warranty
You have to be precise when explaining how a potential home buyer can benefit from the warranty. For example, describe the parts that the warranty will cover in case a home appliance malfunctions. You also have to show how clients can reach you when they need your assistance. You also have to specify that you won't be liable for any damage caused by customer's misuse or alteration.
State the Length Your Warranty will Cover a Product
Of course, customers are eager to know how long can they ask for a repair or return a home appliance. As such, an enterprise must specify the time it will be held accountable in case an appliance malfunctions. You may consider providing extended warranty periods for highly valuable items that can last a long time. For example, a knife can only have a one-month warranty, but an appliance such as a gas cooker or fridge can come with a two-year warranty.
Clarify the Warranty Extension Options
Customers will feel more comfortable to transact with an enterprise that provides an option to extend their warranties. Customers are unlikely to transact with you if you ask extra money for the extension of their warranties. You can ask clients to decide to extend their warranty on the spot or give them a few weeks or month to make their decision.
Follow the Right Procedure
Any enterprise that chooses to provide warranties to its customers has to follow the rules laid out in the federal laws. As a seller or warrantor, provide specific information about the warranty and clarify whether it's limited or full. Make the terms of the warranty easy-to-understand and give the document to any customer who asks for it. Whether a customer is buying online or physically, give out the warranties after every purchase. You can also hire an experienced commercial litigation lawyer for assurance that you're adhering to the laid out rules.
State How You will Handle Warranty-Related Complains
Of course, customers want to transact with an enterprise that has a team dedicated to addressing their product complaints and returns. You can set up an address where customers can take their product back for repair or replacement. Designating a team of workers to deal with issues related to product complaints and returns will make customers feel satisfied with their purchase experience. However, entrepreneurs might need to figure out whether their warranties are worth it or not before giving them out on their products. Note that a warranty is a promise for satisfaction to anyone that buys from you. Also, it is a proof that a seller has faith in their product, and it can be the safety net to trigger more sales.