November 16, 2017

Dear Valued Bonfe Partner,

I regret to inform you that after eight successful years in the home warranty business, Bonfe will be shutting down our home warranty program. Bonfe never started in the home warranty business to be a home warranty company. We did it to increase our reach to more home owners and to build lasting relationships with you, the realtor, manager and broker. For Bonfe, it was a way to grow our business and gain great customers and it worked. Sadly, our business and industry are facing a significant challenge in the lack of available technicians to perform the work that homeowners need. This issue has been pressing us for three years now and is getting worse. To keep up with the demand, we have hired a full-time recruiter two years ago and have another, your home warranty salesman, Alex Cisneros starting once the home warranty business winds down a bit. Even with two recruiters, we still cannot project the ability to serve our existing customer base and the organic growth we continue to experience while trying to keep up with the home warranty demand.

What does this mean for you? First off, no warranties will be registered after November 30th. If you have a closing for December, you will need to find a new warranty company to handle those closings. All existing warranties will be honored as they always have with professional service from a Bonfe technician. We will still take on any referrals you send our way and we will still take your calls to help you with the challenges you face with clients as they buy or sell their homes. And of course, we will be here for the service we perform at so many of your homes. We have made so many great relationships through our home warranty program and we hope to keep them intact moving forward. The last effect of this program shutting down is that we will shrink our service area back down to our previous 30 mile radius and will not be serving homes outside of that radius once the warranties have expired.

I understand that this decision may raise questions for some of you so Alex and Vanessa will be available to take your calls. Despite this action, I want you to know that Bonfe is a very strong and healthy company making a proactive decision to ensure we do not put ourselves and you, our partners at risk in the future. You will continue to see our strong presence in the metro area for years to come.

I thank you all for your commitment to Bonfe and our home warranty program and I wish you all my very best.

Sincerely,

Peter J Bonfe

President