Here’s an interesting piece on a large part of the current market in many places throughout Canada. How does this impact your business?
I started inspecting in 2005. Sellers were plentiful and the adage was “a home never sells at an open house”. They did have open houses for agents and the listing agent often said come for lunch!
Things have changed drastically. Nowadays the listing agent posts a sign saying “Coming Soon” and lets it sit for a week or two. Then they have an open house on a Saturday, and or, Sunday.
They say they will accept offers on Tuesday at 7:00 pm and the SOLD sign is posted Wednesday!:roll:
Don’t laugh I have witnessed it to many times to count, just in my local neighborhood.
So in answer to your question Claude “It sucks”
Just one of the reasons I retired and began living the dream. :mrgreen:
I posted this on the closed site, but maybe posting it here might give RECO some ideas.
As I had indicated in previous posts, I and the buyer have been turned down in order to have a pre-offer inspections. This will eventually turn out to harm some of those greedy agents when the buyers go to sell and find through a home inspection major deficiencies and costs - all because no home inspection was allowed!
This is different than the buyer not wanting a home inspection. The selling agent disallowing a home inspection now takes on the burden of what the future will bring.
Remember this post - it will haunt some Realtors…
That’s pretty much what has been happening around here.
Bidding war winners often drop all conditions, so no inspection. I am busier this year than last year when sales were higher. A buyers market is good for inspectors, sellers market not so good.
Which beckons the question - will licensing home inspectors really protect consumers?
From what I have read .
Does not look like it has worked very well in many places that have brought in licensing .
In a word “nope”
Won’t be much of an inspection industry anyway if this schitt continues.
I’ve been in this business since 2000 (with over 8000 inspections) and my answer - to my very learned friend Claude Lawrenson’s question - is NO WAY!
What’s your secret on how you do 500 inspections a year?
Just curious but in The Canada market how is the Construction industry doing ?
Pretty well I think.
We don’t get many inspections form new construction ( at least around my neck of the woods). Only did two or three PDI inspections in 10 years.
Many builders won’t allow it.
Things are booming here in the Windsor-Essex County market. Home prices are rising and the local muni-inspectors are pretty busy!
With the exception of warranty inspections on new homes, home inspections in my area are a thing of the past.
I think that things are about to change in some hotter markets. With the new mortgage rules it will have a cooling effect. Someone that qualified for a $300,000 home with 5% down will only be able to leverage $220,000. That is a massive change.
In Alberta, it if going to literally kill the market. Homes were barely selling in the last year and now it will be worse.
The good news for those living in the Toronto area or Vancouver area with a hot market is that it will turn into revenue because clients will have conditions to the sale. For us in clod markets, we will be looking for second jobs!!
In the mean time I’m accepting donations