I am doing I presentation for my local association of Realtors in a week and I was looking for some good hard statistical numbers on how an inspection, paid for by the sellers, causes the home to sell faster and for more money.
I know the numbers are out there I am just comming up short.
You won’t find any meaningful data on that yet, it would take many years to overcome the randomness in this business.
But one bit of data is for sure:
If an agent allows their drive-by, do the report in the driveway, 400+ inspections a year joke to do a pre-listing inspection they are begging for a lawsuit and well deserve it!
Pre-listing inspections are even more serious than regular ones since someone will be checking the first guy’s work or worse yet, relying soley on the crappy pre-listing inspection report and suffering real damages later.
Agents know which inspectors are top notch and should refer based on that, not by which ones help “facilitate the sell”. We have one area around here that operates very shady and lawsuits have occurred but the same unethical business continues.
When an agent knows a below average inspector did a pre-listing inspection and then trys to get the buyer to opt out on their own inspection, criminal charges should apply!
Did an inspection on a 30 year old home for a buyer last week. It had been pre-inspected by a colleague who has been a home inspector longer than I and he whips out 3 to 4 inspection reports a day in the driveway. His entire report was 10 pages, buried in a 2 inch thick ring binder with handy information like, how to maintain a basement even though this house doesn’t have one.
Some items he missed: Zinsco service panel, about 20 electrical issues with the service entrance panel and dist. panels. Water heater on the ground, corroded in the crawl space, triple girder notched 1/2 for a duct, climbable guard rail at top of stairs, loose guard rails, 8" gaps between horizontal rails in stairs to 2nd level, non-functional flow at 2nd level bathroom, nothing said about non-bonded CSST, leak beneath master bathroom in crawl, emerg. heat on heat pump would not function, AC condenser would not respond, etc., etc.
How do you think the guy who paid > $400 for that inspection feels about now?
No matter what field of work your in there will allways be someone who is hustling.but that doesnt mean that helping a seller in these times is a BAD thing (Preinspection/move in certified) because im all over it;)
I’ve been meaning to post this but I had my first MIC inspection about 6 weeks ago. A week after the inspection the seller had already corrected most problems found so I updated the online report showing the befores and afters. The house sold last week and the feedback from seller gave credit to the MIC sign/ report. Their agent was impressed too. The problem is this was for a friend and the location is way too far away to go on a routine basis. I shareed this info with a local broker and he seems really interested in the MIC program. We’ll see…
Thanks for the replys guys. My presentation must have gone well because I had a seller that addended the meeting schedule one before I even got back to the office!!
I can’t wait to put some signs up. So far, since the presentation I have done one and scheduled two more. I haven’t put the signs up yet but with in the next few weeks I should.
All in all this is a great idea and a real niche market for agents that want to use a new tool.