Any real estate agent knows that sellers are often looking to sell quickly and affordably, but bringing up the idea of a pre-listing inspection may explicit some reluctance. The truth is that pre-listing inspections could be the key to securing a quick sale. In fact, the inspection may calm the buyer’s fears all the while ensuring that the seller receives the best price for the home.
Why Should the Seller Pay for a Pre-Listing Inspection?
There are several reasons why a seller should pay for a pre-listing inspection or why the listing agent should pay for the listing on behalf of the client. For example, the pre-listing inspection can help the seller pinpoint potential repairs they should fix before selling the home. If a buyer performs the inspection, they may find ways to knock a few dollars off the price. If the seller knows the deal ahead of time, he or she can choose which issues to address before listing, obtaining quotes from contractors before a buyer even knows there was an issue to begin with. Ultimately, this leaves a sense of control to the seller.
An Inspection Provides Opportunity for a Return on Your Investment
Typically, a home inspection costs less than one percent of the home’s overall value. On the other hand, the results found during the inspection can help to increase the value of the home. This is because there are many things the buyer might find and feel that they will need to pay to fix. If you fix these things ahead of time, you eliminate this factor.
Which Inspection Items Should You Fix?
Once your seller receives the results of the inspection, what choices should you make? There are some changes that are more worthwhile to fix than others before you list the house on the market. For instance, you should always fix electrical issues that could later become safety issues. In fact, it is smart to fix any safety issues, including broken staircases and handrails. Anything inexpensive and simple will add value to your home too, including things like broken drawer handles.
Which Inspection Items Should You Leave?
Of course, there are also plenty of things you can leave for the buyer to fix without losing out on a potential return on investment. These are cosmetic issues that the buyer might want to personalize, like the roofing or flooring. You can also leave issues related to energy efficiency and appliances to the buyer.
Ultimately, there are many advantages to completing an inspection before the listing a home, including accurate pricing. In fact, many sellers find themselves able to ask for a higher asking price based on findings. There are no surprises to you or your client.
As a real estate agent, providing advice that sellers may be hesitant to take is part of the job. Fortunately, you will be guided by knowledge and expertise when you do this. One of the best ways to stay up to date with current market information and trends is to pursue continuing education. Contact us for more information about courses that will help you reach out to clients effectively.