I gotta hand it to you Nick…no BS…figuring a way to potentially get $5 out of every inspection one of your members performs…that is master class.
That does deserve some credit…kinda…
Welcome to the world of “Nick speak”! :razz:
Jeffrey, read your quote. It isn’t me who said that.
Here was my quote:
I understand that. I quoted the person I was replying to. That is typically how it’s done.
Geez… you are even confusing yourself. :mrgreen:
But you said it’s “Nick speak.” It isn’t. I didn’t say it. This is the “masons jar” system I recommended to him:
Nope… NOT gonna sucker me in. You know that I know, and I know that you know that I know.
Have a nice evening.
When I was 24 yrs old and just back from Vietnam, I was going to college and selling life, health, disability and property insurance on the side for a major Fortune 500 Company.
I learned real quick there was a lot of whiny babies AND a butt load of people that were either stupid enough, naive enough OR crooked enough to act like an insurance policy was gonna COVER every possible bad thing that could happen
Guess What … They Don’t. Same with the Buy-Back Warranty, the 90 Day Warranties, etc.
I understand the whiny babies trying to get something for nothing, BUT when I see our own home inspectors backing up these pathetic thoughts it GETS embarassing.
I really do not see what is the big deal of the buyer when selling their home having to pay 6 percent to real estate company. If the real estate company wants to charge a fee when the house is being sold to NACHI, NACHI does not have a say in it. If it is a problem with the agent or the broker, than the agent and broker can waive their fee. They are going get paid again after it is sold on the market. Making NACHI the villain in this is ridiculous.
No need to use and agent for INACHI to have to use an agent to buy the house back. Deals like that happen all the time. Only reason he is doing it is to discourage higher priced properties from using the program. They would lose to much money.
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There are numerous other reasons:
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It reduces (but doesn’t eliminate) the misuse of the program by consumers.
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Working with a FSBO stinks. We did a few and had to do all the work on both sides of the deal. Sellers need their own representation.
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We want to reward real estate agents for recommending participating inspectors by getting them additional commission checks, something we can’t do if it is a FSBO.
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We want agents to tell other agents that they get multiple commission checks. Often when a real estate agent contacts InterNACHI about the program, they end up asking who the nearest participating inspector is. Since all participating members are InterNACHI members, it’s just one more way (of many ways) we drive inspection work toward InterNACHI members.
Other reasons too.
Ive been following this thread and have been thinking alot about this program. Trying to learn all I can to make an informed decision on using it or not.
One thing that keeps coming to mind on the guy who got burned. If the realtor is so morally offended then why dont they wave the commission? The 30 grand or whatever is going to them.?!?!?
Jeff,
You’ve seen my various opinions before so hold onto your hat for this one!
I don’t use any of these 90 Day programs and won’t get into the reasons why. However if I did I would, hands down, use this one and properly inform the clients of all aspects and what to expect. After all you can issue one of those 90 Day Widget that might pay a few hundred dollars after a lot of grief getting it. Or you can issue this and any client so upset with their house they want to exercise it gets a $500K (or whatever value) house bought back! Yes they’re going to pay the REA commission but IMO in reality that’s a lot less than paying on a house for 30 years that bothers you so much you don’t want to even live in it.
What I don’t see about this program is how the piddly $5 collected from every inspection can possibly offset the cost of one buy back let alone multiple buy backs?
Thats a good point and Ive thought alot about it as well. I would guess not 1% of clients will ever use the buy back. I would think the $5, plus keeping members paying their yearly dues so they can use the program would prolly work out for NACHI in the long term.
Im leaning towards using it since Im new and trying to get realtors to try me. Im finding it is not super easy to “break into the business”. Realtors are hesitant to use a new inspector for fear of tripping at the finish line on a much needed sale. I think it adds a little security for skeptical realtors.
think about this. If 5000 inspections are done with this program per day, nick reels in $25,000 per day time 5 days a week and that equals $125,000 per week. Times that times 52 and you get a whooping 6,500,000.00 per year. So far what has he bought back. According to him its about 9 houses at an average of $150,000.00 per house. That equals $750,000.00 and they all get sold, some at a small loss. And you want to know how he is making money???
“Okay, let me see if I understand this. If the GFCI is bad, you won’t replace it for $15 … but you will buy back the entire house, instead?” the real estate salesman asks.
You shrug, smile, and nod.
“Where in the world will you find someone willing to sell you their house after going through a grueling buying process simply because the GFCI is bad?”
You say “Florida.”
Then they give you all of their referrals. LOL
I wish. I don’t make a penny on the program. The money goes to InterNACHI members.
Correct. We don’t make repairs, ever.
Oh you aren’t following this thread closely. No one actually sells us back their home over a GFCI. The GFCI is just the fake excuse they use. I thought that was overly evident.
Yep. Good post.
You would be surprised how many realtors like the program, but yes, they are skeptical over the “any reason” part. Like Nick keeps alluding to, usually the main reason is buyers remorse, not that there is actually anything major wrong with the house. If it is just buyers remorse then they should be happy and willing to pay the 6% to get out of a purchase they regret.