After a successful test of the Spark Association of Real Estate Professionals, which provides agents with both personal and business benefits including health insurance, to its company-owned brokerages, Realogy Holding Corp. has expanded access to Spark to its U.S. franchise brands, including Better Homes and Gardens Real Estate, CENTURY 21, Coldwell Banker, ERA and Sotheby’s International Realty. The expansion comes during the 2020 Federal Open Enrollment period for Health Insurance, which runs from November 1-December 15.
“We understand that many real estate agents find themselves without health insurance coverage because of limited options and high costs,” said John Peyton, Realogy Franchise Group’s president and CEO. “After seeing such a positive response when Spark launched to agents affiliated with our company-owned offices, we’re proud to offer this comprehensive benefits program to the more than 130,000 additional agents affiliated with Realogy’s U.S. franchise brands. To help solve these issues and more, SPARK combines a variety of plans into one seamless experience tailored to their needs.”
The Spark membership association offers real estate agents a selection of personal and business benefits, including access to individual healthcare, disability insurance, dental, vision and life insurance, as well as auto and home insurance, identity theft protection, cyber and data breach insurance, human resources solutions, workers’ compensation insurance and commercial property or building insurance. Spark also offers members a slate of discounts and services, including complimentary access to Forewarn, an instant risk management, due diligence, and agent safety app. Members can access a benefits counselor who will guide them through the process of purchasing health insurance as well as other personal benefits like dental and vision insurance which are offered to members at association preferred rates.
As independent contractors, real estate agents are unable to take advantage of benefits offered to traditional employees of an organization. Therefore, most agents are forced to pay out of pocket, and often at full market value, for the protection and assurances. Spark has been designed as a membership association, which allows independent contractors the ability to leverage their collective power to enjoy personal and business benefits, along with the individualized service of a benefits counselor.
Spark was initially launched in September 2019 for agents affiliated with Realogy’s company-owned brokerages, which operate under the Coldwell Banker, Sotheby’s International Realty, Corcoran Group and Citi Habitat brands. Those agents have had the ability to sign up for benefits available under Spark and can participate in the 2020 Federal Open Enrollment period that began November 1, 2019.
