InterNACHI's Free Listing Inspections Program: Answers to Frequently-Asked Questions.

[gspry (Geff Spry, CMI)]

@jdeoliveira2

Too bad 100 % of the inspectors in Seattle can not keep a train of thought, or remember what someone else has posted.

Keep that mouth a runnin! :D:D:D

[mgoldenberg (Marc Goldenberg, Inspector # HI1365)]

IMO the program will help us have more work.
So the buyer waives inspection rights & feels comfortable with the purchased INachi pre-inspection including the Buy Back.
An inspection is lost, however some member inspector already got PAID by INachi to perform the inspection in the first place. Then there’s the possible repair reinspection that you charge directly for & if you’re a good marketer get most every time.
Seems to be you can only lose if NOT part of this program. Non-members will lose work if this takes off. There are obviously millions of listings. Let’s say they were all pre-inspected… by INachi.

[jdeoliveira2 (John Paul de Oliveira, GB-2 #86934 / AB #44580)]

I agree Marc.

This program will add real value, expand the number and type of inspections, and capturing RE leads will outweigh the total inspection dollar amount. In any market, since it is based on %s.

In those temporary markets where contractual inspections are waived, imo there will still be walk throughs. Additionally, in that type of market, it would be even easier to PLI.
Buyers would be desperate for an inspection where there are not any. Sellers will be motivated by a 3-10% markup in sales price.

It is an amazing opportunity for an inspector to provide that, vs. a Realtor.

Full disclosure have a NM real estate and contractor’s license. Have an idea what real estate agents think.

[gromicko (Nick Gromicko, CMI)]

The program will not provide more inspections in Seattle. It will provide less.

Your first sentence might be true. Your second can never be. You said it yourself, buyers are not getting any home inspections done in hot seller markets. At a minimum, this program gets us ONE inspection (pre-listing) on the home. One is more than zero. So at worst, even if it generates zero additional inspections above and beyond the pre-listing inspection, it still generates more than zero. One is greater than zero.

[jmosiuk (Jim Mosiuk)]

@gromicko

Your first sentence might be true. Your second can never be. You said it yourself, buyers are not getting any home inspections done in hot seller markets. At a minimum, this program gets us ONE inspection (pre-listing) on the home. One is more than zero. So at worst, even if it generates zero additional inspections above and beyond the pre-listing inspection, it still generates more than zero. One is greater than zero.

There was a period in the bigger cities in Ontario where there were up to 30 offers on a house at one time.

No home inspections were being done, I talked to Inspectors in that area and they were down up to 70%

Anything that creates more inspections is good for the industry

[bbarbour1 (Brad Barbour, CMI Wa. State Lic.#1226--W.S.D.A. License#87852)]

Your still missing a key point in this

Read through the program facts and thread again.
**
The Buy Back Guarantee is only valid if the buyer has their own inspection**.

Huh? I’m not going to spend the next 2 hours going through all the threads but I’ll spend some time. That question has been posed multiple times to Nick, and yes a prelisting inspection is covered by the Buy your home back guarantee. So let me get this straight, If a home has an Internachi free listing inspection with a Buy Your Home Back Guarantee, it is not legitimate unless another home inspection is done by the buyer? is that what your saying?

So the buyer waives inspection rights & feels comfortable with the purchased INachi pre-inspection including the Buy Back.
An inspection is lost, however some member inspector already got PAID by INachi to perform the inspection in the first place.

I guess Mark is confused then.
#31

Q: Isn’t InterNACHI® incentivized to help the cheap inspectors, since InterNACHI® is paying for the inspection?
A: After all these years of advising consumers not to hire the cheapest inspectors, do you really think InterNACHI® is going to start doing that now? Furthermore, InterNACHI® is giving every one of these homes a “We’ll Buy Your Home Back” Guarantee, so we are incentivized to get quality inspectors into the program.

#36

Q: Let’s say 100 consumers download one of my inspection reports. Isn’t there a lot of liability in my inspection report being in the hands of 100 different consumers?
A: No. First off, only one of those 100 consumers can buy the home. So the other 99 consumers aren’t buying the home you inspected. There is no liability in someone, or 99 people, or 10,000 people having a copy of an inspection report you did on a home they aren’t buying. As for the person who ultimately buys the home you inspected, they’ve already pre-agreed not to hold you responsible. Furthermore, they aren’t your client and so have no standing to file a claim against you. InterNACHI® is your client. And, **furthermore, each home comes with InterNACHI’s “We’ll Buy Your Home Back” Guarantee.

**

I have a few questions maybe i missed the answers for in the FAQ.

In the Seattle Washing area, our market is hot. Real estate inventory is low, and there are more buyers than homes available.

1. • What incentives the buyer to still get a inspection if they can just buy one the one attached to the house for $9.95 or $39.95 and have the buyback guarantee?
2. • What stops agents from encouraging buyers to waive the buyers inspection to close on the home faster?
3. Consumers who open their wallet and buy access to an inspection report before they are even under contract or often before they’ve even see the home are they types of consumers who definitely insist on their own inspection. They are believers in inspections.

Furthermore, our download agreement reminds them to get their own inspections and why.

Furthermore, they get the “We’ll Buy Your Home Back” Guarantee i**f they get their own inspection.

**
Up until this last statement everything I read and was posted stated that the program came with a Buy your home back guarantee, Now it appears that the buyer has to have another inspection, is this the case???
If it is the case how can you market it with the buy your home back guarantee?

I see that question allot on BBG “Does it cover pre listing inspections?” The answer I always saw was Yes…So has this changed?

[jharrison (John Harrison, CMI)]

@bbarbour1

Up until this last statement everything I read and was posted stated that the program came with a Buy your home back guarantee, Now it appears that the buyer has to have another inspection, is this the case???
If it is the case how can you market it with the buy your home back guarantee?

I see that question allot on BBG “Does it cover pre listing inspections?” The answer I always saw was Yes…So has this changed?

Are you currently logging all of your seller inspections into the buy back guarantee? (who would you be offering the guarantee too if so?)

I agree with you though that initially it appeared that Nick was stating that every PRE Listing has an attached Buy Back Guarantee.
Nick also stated that 2018 InterNachi will be paying for the Free Listing Inspections (that is not the case at the moment either)

“InterNachi does not want to be your client, we are going to help you get started in your market”

Currently according to the fact page the Buy Back Guarantee is only valid if the Buyer conducts their own Inspection. This prompts the Buyer to hire you to be their inspector as well.
(Before we go off on a tangent about reinspecting a house seems redundant, We do it all the time, because conditions of a home change from one inspection to another.)

I would see no reason that one could not advertise that the Buy Back Guarantee is part of every listing inspection. (fine print being that it is activated via buyers inspection)

Finally as I have stated repeatedly in the forums about this program. WAIT for the final guidelines and program rollout before you start trying to sell it to your local agents. None of us need to be in a position where we feel we have egg on our face over a program that does not yet exist.

[gromicko (Nick Gromicko, CMI)]

Up until this last statement everything I read and was posted stated that the program came with a Buy your home back guarantee, Now it appears that the buyer has to have another inspection, is this the case???

No.

I see that question allot on BBG “Does it cover pre listing inspections?” The answer I always saw was Yes…So has this changed?

No. What is BBG?

[jdeoliveira2 (John Paul de Oliveira, GB-2 #86934 / AB #44580)]

BBG = Buy Back Guarantee?

[bbarbour1 (Brad Barbour, CMI Wa. State Lic.#1226--W.S.D.A. License#87852)]

Yes, I was using the acronym BBG for Buy Your Home Back Guarantee.

Are you currently logging all of your seller inspections into the buy back guarantee? (who would you be offering the guarantee too if so?)

Yes Iam, It would go to the buyer and good for 90 days after closing. Don’t ask me how long that is good for because I have no idea (sits on market for 6 months and doesn’t sell), forever I guess. I asked Nick about this b4 I started to do it.

I would see no reason that one could not advertise that the Buy Back Guarantee is part of every listing inspection. (fine print being that it is activated via buyers inspection)

What if an ASHI guy or a non Nachi guy came along and did the buyers inspection?

Finally as I have stated repeatedly in the forums about this program. WAIT for the final guidelines and program rollout before you start trying to sell it to your local agents. None of us need to be in a position where we feel we have egg on our face over a program that does not yet exist.

uhhh yeah, thanks for the heads up.

Seems like the BBG or the BYHBG for prelisting inspections is confusing to everyone and its like a wink and a nod at this point. Can we get something more definitive on this?

[gromicko (Nick Gromicko, CMI)]

It would go to the buyer and good for 90 days after closing. Don’t ask me how long that is good for because I have no idea (sits on market for 6 months and doesn’t sell), forever I guess. I asked Nick about this b4 I started to do it.

Yes. If a home sits on the market for 25 years, then the Buy Back Guarantee is good for 25 years and 90 days.

[gromicko (Nick Gromicko, CMI)]

What if an ASHI guy or a non Nachi guy came along and did the buyers inspection?

Then the consumer doesn’t get the BBG (I love that abbreviation, thanks!).

[bbarbour1 (Brad Barbour, CMI Wa. State Lic.#1226--W.S.D.A. License#87852)]

@gromicko

Yes. If a home sits on the market for 25 years, then the Buy Back Guarantee is good for 25 years and 90 days.

Nice

[jdeoliveira2 (John Paul de Oliveira, GB-2 #86934 / AB #44580)]

Another big advantage to this program, if it is going to be geared, at first, to REO Listing Brokers, is that the banks have no knowledge of the condition of the property. If they wrap their head around it, they will love this program.

1. The Listing Broker can more accurately price the sales point, thereby limiting the time it sits (if priced too high).
2. It can give them some information to provide to the bank to show why it has been sitting, thereby taking some of the heat off of them.
3. Optimize selling price.
   In order for this to work, it would need to be targeted before, or concurrently, with the BPO.

Personally, I waited for the BBG to mature, for REA market acceptance. I thought that is a great program as well. This will be a parallel way to promote both. This idea is even better.

Plan on being early with this program.

[jharrison (John Harrison, CMI)]

So in the end this is the confusion.

31: Q: Isn’t InterNACHI® incentivized to help the cheap inspectors, since InterNACHI® is paying for the inspection?
A: After all these years of advising consumers not to hire the cheapest inspectors, do you really think InterNACHI® is going to start doing that now? Furthermore, InterNACHI® is giving every one of these homes a “We’ll Buy Your Home Back” Guarantee, so we are incentivized to get quality inspectors into the program.

32: Q: What does the download agreement accomplish?
A: A number of things at once:

It reminds the consumer that they have no standing in a claim against the inspector, since they are not the inspector’s client. InterNACHI® is the client.
It reminds the consumer that they’ll be hiring their own InterNACHI® inspector, should they enter into a sales agreement on this home or any other home.
It reminds the consumer that they won’t get the benefit of InterNACHI’s “We’ll Buy Your Home” Guarantee if they don’t get their own inspection.
It reminds the consumer of the ancillary services they might want to hire an InterNACHI® inspector to perform, such as radon or mold testing.
It reminds the consumer that we give them access to nearly 300,000 discounts from GiftsFromYourInspector.com if they get their own inspection.
It reminds the consumer that it is wise to have the home they are selling pre-inspected by an InterNACHI® inspector and to have that report offered to potential homebuyers online.

SO WHICH WAY IS IT?

My interpretation of the combination of these two facts is that the PreListing is advertised with a Buy Back Guarantee being activated by a Buyers Inspection.

[jharrison (John Harrison, CMI)]

@gromicko

Yes. If a home sits on the market for 25 years, then the Buy Back Guarantee is good for 25 years and 90 days.

You are stating that even in the extreme event that a house sat on the market for 25 years. you would honor a buy back guarantee from an inspection of the house conditions that were 25 years old? And an inspection that the buyer did not even pay for?

[gromicko (Nick Gromicko, CMI)]

You are stating that even in the extreme event that a house sat on the market for 25 years. you would honor a buy back guarantee from an inspection of the house conditions that were 25 years old? And an inspection that the buyer did not even pay for?

Yes.

[jharrison (John Harrison, CMI)]

Nick can you please clarify my post #115
Thanks.

[kbrittain (Kenneth Brittain)]

There is a new pre-listing inspection job available. Here are the details:
Job # (for reference): 12345
Location: ANY CITY USA
Distance: 61.80 miles (about 1 hour 7 mins by car)
Payment: $300
Please let us know ASAP if you are available and would like the job. We are contacting other available inspectors, so please respond quickly if you’re interested.

Thanks!

Ben Gromicko
InterNACHI

[ccurrins (Christopher Currins, CMI)]

@kbrittain

There is a new pre-listing inspection job available. Here are the details:
Job # (for reference): 12345
Location: ANY CITY USA
Distance: 61.80 miles (about 1 hour 7 mins by car)
Payment: $300
Please let us know ASAP if you are available and would like the job. We are contacting other available inspectors, so please respond quickly if you’re interested.

Thanks!

Ben Gromicko
InterNACHI

So I’m guessing this was sent out to every INachi inspector within 60-70 miles, or maybe even further away. On a first-come first-served basis.

$300 for 2.25 hrs driving time alone.