When you reach the point of getting a home inspection done, the real estate transaction has moved along pretty far. As a Realtor, you want to understand how to navigate this process and work with home inspectors. Let’s dive a bit deeper with a quick guide for home inspections for Realtors.
Why are Listing Inspections so Important?
Before a property is put on the market, a listing inspection can be done. This is simply a home inspection that helps the seller and Realtor see the issues with the property ahead of time.
This type of inspection allows you to address potential issues before listing the property for sale. This is a tool you can use to ensure you can accurately represent the property when putting it up for sale. Plus, you can help guide the seller when it comes to which issues should be repaired before putting the home on the market.
A Few Tips for Preparing a Seller’s Home for a Listing Inspection
- Make sure all areas of the property can easily be accessed by the home inspector
- Replace any blown light bulbs
- Test all smoke and carbon monoxide detectors
- Replace or clean the HVAC filters
Why are Buyer’s Inspections so Important?
The more common type of inspection a Realtor will handle is the buyer’s inspection. It’s a common contingency placed in an offer by the potential buyer of the property. If you represent the buyer, you want to make sure they get a home inspection done.
A buyer’s inspection will uncover any issues with the property. These inspections will provide negotiating chips to help you, as a Realtor, get issues repaired or concessions on the price of the property. Of course, if the issues are too severe, the deal might fall apart.
Tips for Working with Buyers During a Home Inspection
- Help the buyer keep realistic expectations about the inspection and explain that no home is perfect.
- Go over the most common issues that show up on a home inspection.
- Encourage the buyer to attend the inspection and ask questions throughout.
- Prepare your buyers for any negotiations or repairs after the inspection.
- Make sure your buyers understand how important a home inspection is to protect them.
Why Realtors Should Better Understand the Home Inspection Process
You have to be able to advise buyers and sellers throughout the real estate transaction. It’s important to know what to expect during the home inspection process.
You should attend any home inspection that is done with your clients. It’s also important to understand what an inspector will be looking for and what they won’t be looking for. If you deal with a specialized type of property, you should know what type of inspections need to be done outside of a general home inspection.
If you represent a buyer that doesn’t want to attend the inspection or can’t, you should be there. It’s important to be involved throughout the entire buying process and attending the inspection is a pretty big deal when your client cannot be there.
As a Realtor, you might also want to have a few good inspectors you can recommend for buyers. Make sure you vet them well and choose excellent home inspectors you can trust.
Realtors will need to have a strong understanding of the home inspection process. Nearly every time you work with a buyer or seller, you will likely deal with a home inspection as a part of the transaction. Make sure you understand the process and how to advise your clients.