RISMEDIA, July 25, 2011â€” RE/MAX recently named Denver-based EquityLock Solutions as an Approved Supplier of Home Price Protection, which helps minimize the risk of real estate price fluctuations within local markets. Through this program, RE/MAX agents in the U.S. would be able to offer their clients this exclusive protection program.
As part of the RE/MAX Approved Supplier Program, EquityLock Solutions is among a very select group of businesses RE/MAX names as preferred vendors. Only 1 percent of applicants are accepted into the RE/MAX Approved Supplier Program. As part of the programâ€™s rigorous review process, EquityLock Solutions demonstrated the distinct, measurable value Home Price Protection provides to RE/MAX agents.
â€śRE/MAX seeks out programs that benefit both our agents and consumers,â€ť says Mike Reagan, RE/MAX Senior Vice President, Business Alliance. â€śEquityLock Solutionsâ€™ program can ease the fear of buying a house, especially in a market like this. And this program, along with the advice and consultation of a trained and knowledgeable RE/MAX agent, will help home buyers know their equity is protected.â€ť
EquityLock Solutions launched Home Price Protection nationwide on May 6. The product is a contract giving homeowners a financial return if the local House Price Index, as reported by the Federal Housing Finance Agency, is lower at the time of sale than when the contract was purchased. If eligible, contract holders receive a payout from EquityLock Solutions equal to the percentage of the local House Price Index decline multiplied by the value of the home when the Home Price Protection contract was secured.
â€śWe designed Home Price Protection to help boost confidence among homebuyers, providing peace of mind that the value of their investment wonâ€™t decline as a result of factors out of their control, like the overall strength of the real estate market in their area,â€ť EquityLock Solutions CEO and Co-founder T.J. Agresti says. â€śThis relationship has huge potential when it comes to providing that peace of mind.â€ť
Home Price Protection is available to homeowners who are currently purchasing or who already own their home. By working through a RE/MAX agent, sellers can include Home Price Protection in the sales contract as a buyer incentive, and buyers can purchase Home Price Protection directly from a RE/MAX agent.