For any one who has ever written a real estate contract you know how redundant they are. Due to lawsuits, regulations and local and federal laws, there are some things that are mentioned over and over and over again in the contract.
The Home Inspection
Outside of the contract, I feel that the home inspection should be one of the items that should be talked about over and over throughout the transaction. It is imperative that your buyer understands the purpose of the home inspection and often times they won’t know unless we tell them. And when they don’t know, they make assumptions. It is up to us as real estate professionals to manage their expectations.
At The First Buyer Meeting
If you are not conducting a buyer meeting before taking a client out to see property…that’s an entirely different blog. But for those of you who do take the time to have a meeting with your buyers, you want to make sure you go over the purpose of the home inspection. Let the buyers know that the home inspection is not the time for them to nit pick the property. In most cases they are buying a “used” house and there will be some items that need to be addressed. Instead, let them know that the home inspection is a time for them to see what is going on with their new home and how they need to prioritize future repairs.
When You Write The Offer
This is the perfect time to talk about the home inspection. Depending on how your contract is written you can let your buyers know what, if anything you can ask the seller to repair. Again, you want to explain to the buyers that this is not the time to pick apart the property.
At The Inspection
Before the start of the inspection, remind your buyers of the purpose of the home inspection. As the inspector goes throughout the property you will want to summarize any repair items the buyer would like the seller to address. A home inspection can last as long as 4 hours. It’s difficult for buyers to stay focused and remember everything that is going on with the property. So you may want to give a brief recap of any major items that need to be repair every 30-45 minutes.
Buyers Become More Reasonable
Although nothing works 100% of the time, I have found that if you take steps to explain the purpose of the home inspection every step of the way, when the actual inspection day arrives, your buyers tend to be much more realistic and reasonable.
- Why Wait For A Home Inspection?
- Don’t Panic-These Are Common Home Inspection Items
- What Does The Contract Say?
- Do Not Leave The Buyers Home Alone
- Buyer Representation Means You Represent The Buyer
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Inman News named Candy Miles-Crocker as one of the Top 25 Real Estate coaches in 2016. Candy, “The Real-Life Realtor”, coaches, mentors and trains new and experienced real estate agents to transform their business by mastering her proven systems for success. She is a firm believer in managing expectations and her goal is to elevate the perception of real estate agents among the general public through education so every client has an amazing real estate experience. Candy’s unique training methods have shown agents what it takes to be successful!
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