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Pre-Listing Inspections: A Sure Sell?

December 30th, 2007 · No Comments

It’s no news that it’s become a buyer’s market in many markets across the country. In my area (Charlotte NC) there are over 16,500 homes on the market and foreclosures are up 55 percent from this time last year. What can agents do to get these properties moved and a big paycheck in their pocket? Get a pre-listing inspection. I know we’ve all heard about them and most everyone has their own opinion, ranging from, “There must be something wrong with the home if the seller has already done an inspection on it,” to the outdated idea that a buyer, not the seller, is responsible for the inspection. Or how about the weird rationalization that the buyer will get their own inspection, anyway, so why should the seller go to the trouble and expense to get their own? Or even the belief that pre-listing inspections are more trouble for the listing agent than they’re worth because the buyer’s and seller’s inspectors will each find different things, which could blow up in the listing agent’s face. Now I’m not talking about the traditional idea of performing an inspection of the seller’s property simply for the benefit of the seller. I’m talking about something completely different. And what’s so different? The positioning and marketing of the inspection. Most of us know that pre-listing inspections aren’t for the meek or weak agent. They represent a shift in thinking from the traditional to the rational and are often a tough sell to many seller’s who believe that the buyers are responsible for the inspections, which results in their heavy resistance to the pre-listing inspection idea and, many times, its rejection. However, in my opinion, pre-listing inspections should be the rule rather than the exception. They reveal any hidden issues to the seller before the home gets placed on the market, which later translates into the buyer knowing its true condition before they submit an offer. This valuable information only makes all offers stronger and now the deal is unlikely to snag when the buyer gets their own home inspection (which they likely will, so please don’t mislead your sellers into believing that they won’t — it’s just a bonus if the buyer’s pass it up). Also, by getting the pre-listing inspection the seller has also enhanced the likelihood of a successful closing by creating a feeling of honesty and trust since they’ve disclosed, concessed, or repaired all the necessary items. Another seller benefit is that the items needing professional attention can be corrected at a time that fits their schedule and at a more reasonable price since the costly rush charges associated with repairing these items as a consequence of the buyer’s inspection are avoided. So let me explain why and how this new pre-listing inspection works by stealing a page out of our local auto dealership’s playbook: When you go into an automobile dealership today they have two types of used cars: 1.

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Tags: Selling Your Home

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