Pre-Listing Inspections Turning the contingency process on its head
Accept an offer, wait for inspections, work around everyone’s schedules, exchange emails and phone calls. It can be a stressful time, right? That doesn’t even get us through the remedy request. Curveball! The house needs a major repair, now we need quotes and contractors, and a complete job all before closing. No problem, right? Right… Who’s in the driver’s seat? Typically no one, right? It’s stressful and chaotic and never goes according to plan. Why not turn this process on its head?
Turn the tables. Put your seller in the driver’s seat. “How do I do that?” Encourage your client to get a pre-listing inspection. That’s right, have an inspection done on the house while the seller is getting it ready for show. This allows the seller to find out what they may not know about their home, fix any major surprises so you don’t hit a road block in the middle of the sale and allows you and your client the opportunity to advertise a home that’s ready to roll. The seller can decide what items to repair or perhaps upgrade and use those as unique selling points in your listing. Present the report with the house during showing and highlight items that were already addressed by the seller. This builds buyer confidence. It should also help minimize the negotiations on price, and on any remedy requests.
I have also had agents use a pre-listing inspection to help in dealing with a difficult client. I’m sure you’ve never had one of these. “According to this fancy famous website estimate my house is worth $250,000”. What you saw on your brief intro tour tells you it needs to list for $235,000 due to lacking maintenance and updates. No problem, let us be your bad guy. Recommend a pre-listing inspection to help bring their expectations closer to your reality.
The bottom line … no one likes an unexpected surprise. Try something new, it should set you and your client up for a more successful, less stressful transaction. This can also be a unique selling point for your business that sets you apart from your competition.
Written By: Chris Toombs