By NAR’s REALTOR Benefits® Team
RISMEDIA, Dec. 16, 2008-In uncertain financial times, it becomes even more important to carefully manage your money and minimize risk. As independent contractors, however, many Realtors® find it difficult to find the guidance and tools they need to make smart, long-term financial decisions. By taking advantage of the programs offered through NAR’s REALTOR Benefits® Program, Realtors can better manage and protect their finances and investments-and build a more secure financial future.
The program’s insurance and financial partners can help you get competitive rates on auto and homeowners insurance, and provide Errors and Omissions insurance to help minimize risk. They can also help you determine if a home warranty is right for you. And through the program, you can take advantage of the only credit card branded specifically for NAR members, the Realtor Platinum Visa®, which has no annual fee and offers competitive rates.
Ensuring Lower Rates
Looking for competitive rates on insurance? Liberty Mutual offers NAR members special rates on automobile and homeowners insurance.
“In today’s tough economic times, we offer Realtors a great opportunity to save money from a nationally known insurance company,” says Mike Craig, national account executive, Liberty Mutual. “And our value-added benefits really help Realtors save on their day-to-day expenses.”
Through the Liberty Mutual program, NAR members also have access to convenient payment plans, including automatic checking account deduction or direct billing at home, plus 24-hour roadside assistance for auto policyholders and 24-hour claims service.
Don’t Omit Errors and Omissions Insurance
Errors can happen in any real estate transaction. Real estate professionals understand this and try to minimize risk through file documentation, disclosure, and follow-up with the buyer and seller after the close. But sometimes even the most diligent risk management efforts cannot protect you from lawsuits, which have the potential for significant financial loss.
Program partner Geo. F. Brown & Sons offers Real Estate Errors and Omissions (E&O) insurance to firms performing residential and commercial sales, farm and raw land sales, appraisals, property management/leasing and auctioneering. The program provides coverage for the sale of both primary residences and investment properties, and offers a wide variety of limit and deductible options. Premium discounts may be available after meeting certain requirements.
The Geo. F. Brown & Sons Real Estate Errors & Omissions Insurance coverage is provided by Scottsdale Insurance Company, which is rated A+XV (superior) by A.M. Best Company, and has a Standard & Poor’s “A” rating.
Protecting Your Biggest Investment
Your home is most likely your biggest investment. Why not get the same great coverage on your home’s system components and appliances that you offer to your clients?
Program partner American Home Shield® (AHS) has been providing home warranties to Realtors and homeowners for more than 35 years.
NAR members receive a $50 discount on the purchase of the new AHS® Home Warranty FlexPlan® for their home or any residential properties they own. “The FlexPlan is a valuable tool to help aid in your financial security in 2009,” says Lisa Isbell, marketing project manager, American Home Shield. “Unexpected repair or replacement costs can easily strain your budget. Plus, finding a qualified professional to solve your problem can be stressful and inconvenient.”
REALTOR Platinum Visa® and REALTOR Business Visa
Through Chase, NAR offers members a Realtor Platinum Visa credit card. The card offers all the benefits of a traditional credit card, but also allows you to brand yourself a member of NAR-a great way to build relationships and get referrals. The introductory annual percentage rate (APR) is 0% for up to six months and there is no annual fee.
When you obtain a new card and make your first purchase, you automatically receive an $80 account credit, a value equivalent to your annual NAR membership dues. You also earn points every time you use the card, which can be redeemed through Chase’s Flexible Rewards program. Redeem your points into cash, airline tickets, hotel stays, car rentals, and a wide variety of other products.
The Realtor Business Visa is available to all NAR members and is ideal for tracking day-to-day business expenses. The card offers business tools, such as downloadable reports, spending behavior information, spending limits, and merchants frequently visited. And at the end of the year, you’ll receive a printout of expenditures categorized by types of expenses to help you prepare taxes.
For more information, please visit www.REALTOR.org/Realtorbenefits or call 1-800-NAR (627)-5233.