Allen Tate Company's Job Loss Protection Program Getting Results in Challenging Real Estate Market

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Allen Tate Company, the Carolinas' real estate leader, has launched a new program designed to help buyers and sellers achieve their goals in today's real estate market. Job Loss Protection pays the mortgage for up to six months, up to $1,800 per month, in the event of involuntary job loss in the first 24 months of closing. More than 700 sellers have signed up, and the program is giving buyers the confidence they need to move forward.

Allen Tate Company will continue to offer its clients fresh solutions like this as we navigate the challenges of today's real estate market together.

Helping buyers and sellers to achieve their goals in today's real estate market is requiring more than just an experienced Realtor with savvy marketing skills. While buyers can see the advantages of low interest rates, great inventory, competitive pricing and incentives like the $8,000 stimulus tax credit, many are stuck "on the fence," paralyzed by the "what if" of an uncertain economy. And sellers are trying to make their home more attractive to the fewer buyers seriously looking to purchase.

In late April, Carolinas' real estate leader Allen Tate Company launched an innovative program to help deliver that magic formula: Job Loss Protection. The program's purpose is to help sellers make their homes more attractive to potential buyers, and to provide buyers with an incentive to move forward with purchasing a home.

"In the past two months, we have added Job Loss Protection to nearly 700 listings throughout our footprint in North and South Carolina," said said Pat Riley, president of Allen Tate Company. "I have personally talked with several dozen Realtors who attribute Job Loss Protection to playing a key role in the sale."

Similar to programs offered by the auto industry, home builders and big-ticket retailers, Job Loss Protection pays the mortgage for up to six months, up to $1,800 per month, if the buyer involuntarily loses their full-time job within the first 24 months of closing. It's part of the HELP Program (Homeowner Education and Loan Protection) offered by the non-profit Rainy Day Foundation.

Allen Tate is among a handful of residential real estate companies nationwide that have adopted this or a similar seller-funded program. And it's working.

Lisa Hollins, an Allen Tate Realtor in High Point, N.C., added Job Loss Protection to a seller's listing, and the next day, received a contract from a first-time homebuyer couple who had been looking at homes for more than a year without making an offer.

"They wanted to make sure they were doing the right thing for their future," said Hollins. "Job Loss Protection put their minds at ease."

Allen Tate Realtor Brenda Jordan listed a Mooresville, N.C. home in January, and despite multiple showings, new paint and price reductions, the property received no offers until Job Loss Protection was added approximately four months later. "It went under contract right away and we're closing next week. The program really appealed to the buyer," said Jordan.

Job Loss Protection is available on Allen Tate Company listings and on homes purchased through an Allen Tate Realtor, offered by participating sellers. The seller pays $500 for the program, on behalf of the buyer. Properties with Job Loss Protection are identified by a special "JL" icon on the company's Web site, allentate.com.

"Job Loss Protection is providing our buyers and sellers with a great opportunity to move forward toward their goals," said Riley. "Allen Tate Company will continue to offer its clients fresh solutions like this as we navigate the challenges of today's real estate market together."

For more information on the Job Loss Protection, contact an Allen Tate Realtor® at
1-800-210-0321 or visit allentate.com.

Allen Tate Realtors is the Carolinas' largest real estate company with offices in the Charlotte, Triad, Triangle and Upstate South Carolina regions. Allen Tate offers the advantage of hometown service with international capabilities and the latest in real estate technology and maximum marketing exposure. Visit http://www.allentate.com for more information.

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Karen Murray
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