I AM your insurance policy. I know what your thinking...What the hell is he talking about?
I am talking about reducing an Real Estate Agents liability. Have you ever had a home inspector find an issue that saved you and your client from a nightmare? Maybe it was a structural problem that no one, including the seller, had any knowledge about. Maybe it was an issue that would have cost the buyer thousands of dollars to correct had they bought the home without an inspection.
If there is a major issue that can cause the buyer to walk away from the deal, but it goes undetected until some time after they have purchased the home, YOU JUST INCREASED YOUR LIABILITY.
But, when that issue is discovered by a home inspector, and the buyer is informed, whether or not they purchase is irrelevant. YOU HAVE JUST REDUCED YOUR LIABILITY. If the issue kills the deal, YOUR LIABILITY IS REDUCED. You will have a second chance to find the house that is right for your client. If the buyer purchases the property after being informed of the issue, YOU HAVE REDUCED YOUR LIABILITY. There is another benefit. YOU BUILD TRUST WITH YOUR CLIENT. When you refer home inspectors that perform their jobs well; the client will thank the inspector for finding the issues, BUT THEY WILL THANK THE AGENT FOR FINDING THE INSPECTOR.
Don't think of inspectors as "deal killers".... think of us as......your insurance policy......your second pair of eyes......your partner......your client retention specialist......your friend in real estate.
Hi Michael,
I think all homes should be inspected, just to give the potential homeowner a security blanket. I believe it should be mandatory and not on a volunteering basis. Good Blog, it is an insurance policy...
;>)