Real Estate Professionals
Selling the Pre-Listing Inspection
- How Agents and their Sellers benefit.
Most buyers recognize the value of property inspections. That's why a home inspection has become a common occurrence during the option period of a residential contract. But the benefits of a home inspection aren't exclusive to the buyer's side of the transaction. I often wonder why more sellers and their agents don't use inspections to their advantages as well.
Think about it. The results of a home inspection affect all manner of contract negotiations and influence how comfortable potential buyers feel about a property. What other part of the transaction can have such a profound affect on intangibles like a buyer's emotions?
All sellers should get an inspection for their home before it goes on the market. You, as their agent, can help them see the wisdom in doing so. Here's how to promote the idea to your clients.
Price. The cost of an inspection is usually less than the first price reduction asked for by buyers. A home with a clean bill of health can support a higher sales price.
No surprises. You'll dramatically lessen the chance that a buyer's inspection will reveal surprises about needed repairs or maintenance.
Stands out. Performing a seller's inspection differentiates a home from others on the market.
Minimizes concessions. During negotiations, small items found during a buyer's inspection sometimes escalate into demands for larger fixes. Proactively correcting small things helps avoid discussions of repairs.
Buyer comfort. A home in documented good shape or even one with disclosed conditions offers a comfortable certainty for buyers. Instead of loving a home and wondering about added costs from unknown problems, buyers can focus on closing the deal. Such an open marketing approach can attract buyers and keep them interested.
Fewer terminations. With more information at their disposal before they make an offer, potential buyers are less likely to use their termination option in the contract. This saves time and money that may have been spent on a deal that dies.
What's good for your clients is also good for you. As a listing agent, you'll have a better picture of the house's condition that enables you to price and market the property more effectively. If you recommend an inspection to all your sellers, it can also differentiate you as an agent-especially if your listings sell fast and are close to asking price. You could even cover the cost of the inspection as a value-added service to your clients.
A seller's inspection places the home well for selling and avoids surprises that compromise many transactions. I believe they help ensure a smoother, faster closing. Who doesn't want that?
