So, you’ve got low self-esteem issues. Gotcha.
Some may think this, but if inspectors are good overall they know things are going to be caught. I did an inspection two weeks ago on a flip, called out a lot of stuff, did a repair verification on it this past week and the seller (a contractor) put me on schedule to pre-list inspect his other projects so they WOULD NOT be held up like this one was. If the quality of our industry is there people will want to find it fast not try to slide it past the buyer.
I tend to disagree.
The agents who do use me for listing inspections claim that doing so speeds up the transaction and makes the home less likely to fall out of escrow.
The majority of homes I inspect that fall out of escrow do not fall out over items I find, but that the buyer suddenly feels like the seller should fix everything or offer a massive discount over said items, while the sellers feels the items are not worth a massive discount. Hurt feelings ensue, and the deal falls apart. Now the seller is on the hook for another months’ of mortgage payments, they’ve wasted 10-30 days of escrow, and even if they take a new offer the next day, they’re in another 30 escrow holding pattern. That can lead to short sales or bankruptcies when the seller can’t move the home in a timely period.
With a listing inspection, everything is out in the open. The buyer can go ahead or walk away upfront, and negotiate everything ahead of time. Yes, there may be a 2nd inspection (I do plenty of those too), but those generally don’t kill a deal, unless the 1st inspection was pathetic (which is exactly what happened recently).
That did NOT answer the question.
So I’ll ask again:
- If I have a listing agent who call me to inspect a home under this program do I have to get an approval first to make sure the home qualifies?
Yes, and not just from InterNACHI. The seller has to agree too.
I understand this isn’t rolled out yet, but you’re looking for tests.
Do we have Beta forms that we can have the listing Agent and Seller sign, either PDF or Web?
The headline says ALL HOMES?? and now qualified homes??
QUOTE=gromicko;1785953]Probably. I haven’t worked out a formula for that yet.
AOK, let me know when you’re ready to go, if you do determine these type of limited major system inspections are qualified. The termite is not an issue here, my own license so there’s no sub-contractor to pay extra.
IMO it would have more appeal if the agents know it is not gonna be a “nit-picky” report, just the major systems (no windows, doors, ceiling fans, appliances, etc).
If it’s reasonably within my service area, I’ll offer one free WDO inspection to the “chosen” inspector if it helps close the deal.
I think I could procure more work than I want/need so I’d refer it to other local inspectors that have referred me like Dennis Bonner, Jared Nelson, etc.
“Windows” aren’t a MAJOR system? New windows on a typical 2,000 sq ft ranch could easily hit $20-30 K.
Are you suggesting we knock it back to a 4-point? Not much value in that for anyone other than seasoned investors - IMHO
Major system is roof-plumbing-AC-electrical for this purpose.
It does have much value for someone interested in the property.
That makes no sense. The whole point it to get your reports out there so agents, clients, etc, see what kind of job you do.
The point is do your best, so others will see it and hire you to do the same on their house.
If you do less than your best, then you’re telling future buyers you’ll do less than your best on their house too.
It may be less than a full comp, but it is NEVER less than my best. Makes much marketing sense to me.
The headline says this will be offered in all of N. America. Not all homes. Learning how to read is a key component to life.
Did 1st one today, went great, many defects. But priced right to flip in a hot market area
Mind sharing the report? Just for beta purposes.
One thing I see the program will help with is speeding up the transaction on the property. You would also be able to notify the seller on any possible apprasial issues. They love to stick their nose in it.
Nick will have the report tomorrow, he can do whatever he wants with it, but i cant share his report
Thanks for the update Dennis, keep up the good work!!
This all sounds good but there is still a lot of gray areas so I would like to break this down.
- Do we market this or wait for NACHI to find the homes and select their favorite inspector. Because in post #41 it was stated we ( the inspector) could go and advertise free pre-listing inspections and as long as the report is uploaded to NACHI we get paid. It has been stated that we get paid whether the seller decides to still sell the home or not. As this forum progresses that changed to NACHI will find the homes and send it to an inspector in the area to do the inspection. Sounds like the favorites will get the work and the rest will have found a different form of competition.
Here is a quote from you Nick…
InterNACHI starts looking at homes for sale to inspect for free. We’ll start with certain homes first, homes that are likely going to generate numerous report downloads. Those might be homes that are being auctioned off, homes that are in foreclosure, very expensive homes, vacation homes, and homes that are likely to have many out-of-town buyers interested in them. We offer to inspect the homes for free. We pay InterNACHI members full-price to do those inspections. In return, the seller agrees to permit us to offer the inspection reports online as downloads that can be purchased. When a consumer reveals himself or herself to be a serious buyer by opening up his/her wallet and downloading a report, we ask that consumer if they are working with an agent, and if not, would they like our listing agent to help them with their real estate needs. If the consumer answers YES, we connect the consumer and agent for free. The participating listing agent will get hot real estate leads at no charge. Those leads are very valuable to any agent. The seller gets a free inspection plus the added benefit of his agent being able to work the very consumers who showed some real interest in his home. The inspector gets paid in full for an inspection that carries nearly zero liability as InterNACHI is the client and we aren’t ever going to sue our own member. In the terms-of-download, we explain to each consumer who downloads a report that they aren’t the inspector’s client and so have to get their own inspections. We further incentivize them by giving them a free “We’ll Buy Your Home Back” Guarantee if they do. And it might be possible to get the listing agent to agree to reimburse them the $39 if they enter into an agency relationship with the agent. The inspector also gets two more inspection job opportunities from the seller: Once for any repair-verification inspections he or the listing agent might want done and once again on the home the seller is moving to, should he be moving locally. If he isn’t moving locally, we’ll try to procure that inspection for yet another InterNACHI member. And presumably we can do the same for other sellers moving from out of town into the original inspector’s market. As you can see, the program would then begin to generate many additional inspection jobs for the industry which is good for all inspectors. Every time an inspector’s report is downloaded by someone who ultimately doesn’t buy the home, the inspector suffers no additional liability either as there is no liability in a report being in the hands of a consumer who doesn’t buy the home that was inspected. And in each of those cases, those consumers who didn’t buy the home are still looking for a home and will soon need a home inspector. So in effect, we dropped samples of the product the InterNACHI members produces as professionals, the reports, with their InterNACHI member’s contact information on those reports, smack into the hands of consumers who all are about to need home inspectors in the InterNACHI’s member’s local market. It’s target marketing beyond all belief! Furthermore, the listing agent who has now benefited greatly from this system and who received free hot real estate leads is likely going to want to do it again on other listings she has and presumably would consider contacting the original InterNACHI member to do it all over again.
So the question is do we market and find the homes or does NACHI?
The question of add-on inspections (i.e. WDO) has been asked and the first response from Dennis who appears to have some authority in this clearly said " yes it covered". Then later in this discussion it now looks like it is not. Which is it?
If we are to market this and have to get approval of sorts from NACHI that could be ugly. Here is a scenario:
I setup a presentation at a real estate office and say " Are there any listing agents that would like a FREE inspection on one of your listings? All you have to do is get the seller to agree."
I get 3 agents that say sure!
Then I say but there is a catch…I have to check with NACHI to see if they will approve the home…NACHI says “so sorry” we don’t want to do that one. Now I have to go back and tell the agent who then tells the seller the FREE inspection will not happen after all. I end up walking away looking like a fool. Not Good. We would be better off marketing to be the buyers inspector that go in and try to find what the first guy missed. But that would be ugly also because now you one NACHI inspector trying to throw another NACHI inspector under the bus just to stay alive. If we could all just agree on some guidelines and pay scale and allow the inspector to market this like the buy back then I think it could workout just fine.
So the questions is…Will this or will this not be a program like the buy back where there are 5 or 6 things for a home to qualify?
P.S. I do think it is a great idea in concept, I just think the idea that NACHI hand picks the inspectors or tosses the home into a pool and everyone fights for like Home Adviser would be ugly.