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Warranty - Somebody Stop Me!

 
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Old 01-10-2018, 07:52 PM   #1
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Warranty - Somebody Stop Me!


Iím considering offering a craftmanship warranty ďAs long as you own the home!Ē Iím even considering the possibility of making it transferable should my client sell the home.

I can think of a lot of pros and very few cons. Wadda you think?
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Old 01-10-2018, 08:17 PM   #2
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Re: Warranty - Somebody Stop Me!


Could be a good selling tool. Will you fund it by adding in a percentage to each job? Better have a bunch of details so you don't have to cover something a homeowner did to something you provided after you left. Keep us in the loop what you try.

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Old 01-10-2018, 08:24 PM   #3
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Re: Warranty - Somebody Stop Me!


Marketing would be the sole reason for it. We add a percentage in overhead to every project for warranty. Every year we take a good portion of those funds out for other things. We just donít have much warranty work to do.

Over the last 5 years, weíve done $3,219.91 in warranty work and Iíll bet half of that was not real warranty work Ė more like goodwill or not worth the argument work.
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Old 01-10-2018, 09:06 PM   #4
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Re: Warranty - Somebody Stop Me!


Not a bad idea. All of us will take care of anything that is truly our fault no matter how much time has passed. Why not put it in writing as a tangible selling point.

I have done "warranty work" for 2 jobs I ran for my previous employer. In both instance I was not the carpenter that installed but I was the project manager.

I was glad their loyalty was to me and not the old boss but it didn't feel right to charge them for it.

I offer no written warranty but tell customers that story when they ask so they understand how seriously I take delivering them a job that will last.
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Old 01-10-2018, 09:17 PM   #5
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Re: Warranty - Somebody Stop Me!


Think you're asking for a lot of headaches..............
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Old 01-10-2018, 09:31 PM   #6
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Re: Warranty - Somebody Stop Me!


You better have a 30 page contract stating coverage. I see little pro and lots of cons.
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Old 01-10-2018, 09:46 PM   #7
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Re: Warranty - Somebody Stop Me!


Since you asked....

...don't do it unless you want to deal with future owner nutjobs that you didn't get to pre-select (and decline).

I also can imagine some agent using (and misrepresenting) that warranty to close their home sale.
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Old 01-10-2018, 09:51 PM   #8
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Re: Warranty - Somebody Stop Me!


What happens when you close shop, sell the business, or just up and die?
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Old 01-10-2018, 10:07 PM   #9
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Re: Warranty - Somebody Stop Me!


If you made the contract transferable to a new homeowner you have to have a specific time limit, or you will have to warranty everything to eternity. We make our Original Owner Lifetime Guarantee limited to 10 years from the date of our contract. So, if the original owner sells the house in 7 years the new owner gets 3 more years. Our guarantee is a great selling point. Especially, when our customers tell us they intend to sell their homes in the near future. Then, we tell the customer how much happier a buyer may be when they realize they are getting an extended guarantee and will not have to worry about paying for repairs.

Personally, I can't vision many people buying your warranty. Especially for things that are not subject to abuse and hard use like plumbing, heating, roofing and electrical wiring and components.
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Old 01-11-2018, 12:02 AM   #10
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Re: Warranty - Somebody Stop Me!


If you have closed the deals for the last ten years without that added risk and expense why would you start doing it now?

I used to offer a three year warranty. I changed it to 18 months. Hasnt affected my business at all. I lose maybe one or two jobs a year because of it but most (95%) don't even ask.

Now, if you only do a couple giant projects a year there might be a different effect. But I don't see a reason to kick yourself in the balls; wait until the market forces you to increase your offer.

If it doesn't make money, it doesn't make sense.
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Old 01-11-2018, 01:01 AM   #11
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Re: Warranty - Somebody Stop Me!


As long as you own the home, maybe

Next buyer, no way
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Old 01-11-2018, 05:05 AM   #12
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Re: Warranty - Somebody Stop Me!


Why not? It's not like you are going to live forever.
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Old 01-11-2018, 07:06 AM   #13
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Re: Warranty - Somebody Stop Me!


I can see someone suing you because you won't come out and replace a ten year old toilet fill valve.
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Old 01-11-2018, 07:20 AM   #14
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Re: Warranty - Somebody Stop Me!


I wouldnt do it, there is so many people out here who are laying and waiting for the smallest opportunity to get every little thing out of someone they can
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Old 01-11-2018, 07:21 AM   #15
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Re: Warranty - Somebody Stop Me!


Quote:
Originally Posted by SmallTownGuy View Post
Why not? It's not like you are going to live forever.
Maybe I spoke too soon. One of these outfits has been in business since 1952. That's just about as old as me.

Dang !

http://www.buildersandremodelers.com...nship-warranty

http://mymsicorp.com/about-msi/the-msi-warranty/
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Old 01-11-2018, 07:24 AM   #16
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Re: Warranty - Somebody Stop Me!


i honor any warranty situations that may come up....but im not offering a lifetime of free work, back to the HO
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Old 01-11-2018, 07:28 AM   #17
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Re: Warranty - Somebody Stop Me!


Not for all the fvcking tea in China.
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Old 01-11-2018, 07:48 AM   #18
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Re: Warranty - Somebody Stop Me!


When there are people that return dried out Christmas trees in January.....I wonder what the warranty says.

https://nypost.com/2018/01/10/woman-...co-in-january/
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Old 01-11-2018, 08:06 AM   #19
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Re: Warranty - Somebody Stop Me!


Costco is too generous with their return policies and us members pay for it. A gal there told me they refunded a guy's bottle of wine because it gave him a headache.
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Old 01-11-2018, 09:15 AM   #20
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Re: Warranty - Somebody Stop Me!


It sounds like your business is doing just fine without offering that. I would say the risk is not worth the reward.

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