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Real Estate Fight Club

30
Oct 2019

Episode 05: Are Pre-listing Inspections Critical?

October 30, 2019

In Episode 5 of the Toe-2-Toe Podcast, hosts Jenn Murtland and Monica Weakley duke it out over whether pre-listing inspections are critical. This conversation will help you understand how pre-listing inspections can affect a transaction. Will this strategy be another great way to help your clients sell their homes for the most amount of money possible? 

 

Episode Highlights: 

  • Is it critical that you encourage your seller to do a pre-listing inspection?
  • Jenn says yes, you should encourage your seller to do a pre-listing inspection.
  • Not a lot of agents require a pre-listing inspection.
  • 50% of the time the buyer does waive the inspection contingency. 
  • Jenn includes the inspection report along with the receipts and a list of the items that were fixed.
  • A lot of buyers are looking for safety concerns. If those are fixed, half the time they're good to go.
  • Monica does not do pre-listing inspections.
  • She waits for buyers to say what’s important to them.
  • If you have a willing seller that's motivated, then you can get through an inspection no matter what.
  • Jenn compares a pre-listing inspection to a nice tuneup.
  • There's so many houses where there are just little things for them to do that can impress buyers. 
  • Jenn does not pose pre-listing inspection as a question. It is a given.
  • She thinks this is the best way for you to get the most amount of money for your house.
  • Monica commends Jenn for taking the lead as the agent.
  • The house has to be ready for the buyer to buy and move in.
  • Jenn has sellers pay for pre-inspection in a variety of ways.
  • 75% of agents they surveyed said they did not require a pre-listing inspection.
  • Monica concedes that pre-listing inspections are a great idea.
  • Jenn’s inspector gives her clients a special price.
  • If you use pre-listing inspections, how many of your buyers release the inspection? 

 

3 Key Points:

  1. Some realtors require clients to do a pre-listing inspection. 
  2. Some realtors prefer to wait to address issues that are important to the specific buyer. 
  3. Pre-listing inspections cut down on surprises in the transaction and help your client get the most money possible for their home.

 

Resources Mentioned: