Provide Support During Inspections
The real estate industry contains a variety of phases that each require their own specific skills and knowledge. Scoping, finding clients, negotiating, and closing deals all require different levels of expertise. But there’s one critical task that isn’t often discussed, but which is a major part of the process in buying and selling properties: home inspections.
Home inspections are an important part of the home buying process. They give buyers an opportunity to find out if there are any problems with the home before they buy it. The inspection also helps protect the seller, since it alerts both parties to any problems that need to be addressed before closing.
Real estate agents need to provide support during the inspection process to help make sure things go smoothly. Here’s what they need to know to provide the best possible inspection experience for their clients.
Understand the Home Inspection Process
Real estate agents should understand the general process for home inspections and how the inspection report impacts the sale. The home inspector evaluates the physical condition of the home and its systems, such as the electrical, plumbing, and HVAC systems.
The inspection typically takes two to three hours, and the inspector will typically provide a written inspection report. This will include a summary of the findings, any repairs that need to be performed, and the estimated costs for any repairs.
Communicate With the Buyer and Seller
Real estate agents need to communicate with both the buyer and seller during the inspection process. This involves making sure both parties understand the purpose of the inspection and the procedure, and keeping them informed every step of the way.
The agent should explain to the buyer that the inspection is only a snapshot of the home’s condition and issues may arise even after the inspection has been completed. They should also make sure the seller understands that the buyer has the right to determine if they want to move forward with the purchase, even if some problems are found.
Be Available During the Inspection
Real estate agents should make sure they are available during the home inspection if possible. This is important to ensure that everything goes as planned, and that any issues that arise during the inspection can be addressed quickly.
If the agent is not able to attend the inspection in person, they should provide the inspector with contact information in case any questions or issues arise. They should also be available to answer questions from the buyer and seller afterwards.
When the inspection is completed, the real estate agent should work with the buyer and seller to schedule any necessary repairs. This includes examining the inspection report, determining which repairs need to be made, and making sure they are completed before the sale is finalized.
Agents should also be prepared to provide additional advice and support, such as helping to find contractors if needed. They should also be able to explain the complexities of the inspection process if the buyer or seller have additional questions.
In some cases, the buyer and seller may have to negotiate regarding the inspection results. The real estate agent should be prepared to help manage these negotiations and come to an agreement.
The negotiation process may involve the buyer asking for repairs to be made by the seller, or the seller asking for compensation for repairs that have already been made. The agent should act as a mediator and help facilitate an agreement that is agreeable for both parties.
Provide Support During Closing
The real estate agent should be available to provide support during closing. This includes making sure all of the inspections have been completed and all the repairs that were agreed upon have been made.
The agent should also answer any questions from the buyer or seller during this time, and make sure that all of the paperwork is in order. This includes ensuring that documents are filled out correctly and all of the signatures are in the right places.
Providing support during home inspections is an important part of the real estate industry. Agents need to understand the process, communicate with the buyer and seller, be available during the inspection, schedule repairs, manage negotiations, and provide support during closing. Doing all of these things will help make sure the home purchasing process goes as smoothly as possible.