How real estate and mortgage professionals can help
Real estate agents and mortgage professionals play vital roles in the homebuying journey and are already well-versed in guiding clients through the details of their builder’s warranty coverage. With the new registration step, professionals can extend that support by incorporating deposit protection into early-stage conversations. For mortgage professionals, Tarion’s deposit protection and the new registration step are especially relevant in financing conversations.
“This new step in the homebuying process is designed to be quick and easy—and have a widespread positive impact,” says Balasubramanian. “For all professionals who act as trusted advisors to homebuyers, helping clients complete this step early on can make all the difference in ensuring they’re protected.”
Tarion encourages advisors to guide clients through the registration process, help with the registration itself, or complete it on their behalf.
Start educating clients now
Although the change does not come into effect until July 1st, this transition period is an opportunity to become familiar with the process and give clients advance notice about the upcoming change.
“Everyone benefits from a new homebuying process that includes stronger consumer protection measures,” explains Balasubramanian. “Our goal is to disrupt illegal home sales earlier in the transaction cycle—but our efforts will be more effective if all industry participants are aware and engaged.”
More details, including consumer-friendly resources, are available at Tarion.com.