Provide Big Value To Your Seller Clients in this Simple Way - Homeowner Exemptions!
Are you a real estate agent looking to offer your clients an exceptional service that not only saves them money but also sets you apart as a detail-oriented and knowledgeable professional? If so, then you need to know about the Homeowner's Exemption strategy, a fantastic way to provide your clients with significant annual savings while showcasing your dedication to their financial well-being.
What is the Homeowner's Exemption?
In the United States, homeowners have a fantastic opportunity to save on their property taxes, thanks to a program known as the Homeowner's Exemption. Homeowners are able to designate one property as their primary residence and file for a homeowners' exemption on their real estate property taxes.
Homeowners can take advantage of this program to save approximately 7 to 10% on their property taxes annually once it's successfully filed. The question is, why wouldn't you want to do this every single year?
How to Check for the Exemption
As a real estate agent, you can be the guiding light for your clients in this process. You can start by reviewing all your clients' properties and examining their tax bills. This can easily be done by visiting the County's website and navigating to the "exemption history" search. Enter their property's PIN (which is part of public record), and you can immediately determine whether they have successfully filed for their homeowner's exemption.
Moreover, this search also lets you see if there are other exemptions such as senior exemptions, which can lead to even more savings.
Why Implement This Strategy?
The Homeowner's Exemption strategy may be a manual process, but the potential benefits for your clients are immense. Create a spreadsheet where you input the client's PIN alongside their name, address, and the date the property was closed.
Client Outreach and Support
For clients who have successfully applied for the Homeowner's Exemption, you can send them a yearly note to congratulate them and offer your continued services. This approach solidifies your role as a trusted agent who's dedicated to their clients' financial well-being.
For those who haven't filed for the exemption, you can send them an email with detailed instructions on how to both file for the exemption for the upcoming year and, interestingly, file a "certificate of error" for the past five years. This step allows them to receive a refund for the time they've lived in the property without applying for the exemption.
Your email could be as simple as, "As part of our customer service process, I was doing research on your property and noticed that you haven't applied for your homeowner's exemption. There are significant savings with this program, and you should file immediately." Include hyperlinks to make the process even more straightforward for your clients.
Extra Benefits and a Unique Selling Point
Implementing the Homeowner's Exemption strategy isn't just about saving your clients money; it's also an excellent way to set yourself apart in the real estate industry. It showcases your attention to detail and your commitment to ensuring your clients receive every financial benefit available to them.
Imagine having an $8,000 tax bill and realizing you could save approximately $500 each year. If you haven't applied for five years, that's a substantial sum of money. By offering this strategy, you not only provide your clients with a tangible financial benefit but also gain their trust and appreciation.
In today's competitive real estate market, it's essential to go the extra mile for your clients. The Homeowner's Exemption strategy is not just a way to save money; it's a powerful tool for building trust and setting yourself apart in the industry. So, go the extra mile, help your clients maximize their savings, and demonstrate that you're a real estate agent who truly cares about their financial well-being. This strategy could be the key to winning listings and keeping your clients coming back for all their real estate needs.