Fred Glick, a Broker, Real Estate Realist, and Founder of Arrivva, holds a stellar track record with over $2 billion in residential transactions while grounded in a lifelong passion for real estate. Listen closely as Fred Glick gives you real estate hacks and tips through Arrivva’s AI Podcasters in the weekly We Fixed Real Estate podcast.
Arrivva is a comprehensive real estate and mortgage brokerage, catering to qualified motivated buyers, sellers, and mortgagees committed to brokering with love, integrity, knowledge, a well-defined plan, and a transparent flat fee structure. As featured in the Wall Street Journal, Arrivva leads the way in transforming the future of real estate, one happy client at a time.
Here’s a glimpse of what you’ll learn:
- Discover how pre-inspections can give sellers the upper hand
- Dive into the differences between pre-inspections and traditional buyer-led inspections
- Discover the unique benefits for sellers
- Explore strategies for handling pre-inspection findings
- See how transparency in pre-inspections can attract more confident buyers
In this episode of We Fixed Real Estate
AI guest hosts guide you through a powerful strategy for real estate sellers: pre-inspections. Discover how pre-listing home inspections can flip the script, putting sellers in control, minimizing negotiation surprises, and boosting buyer confidence.
With insights into navigating unexpected findings and real-world scenarios that showcase their game-changing potential, this episode is packed with knowledge that could redefine your approach to selling. Could pre-inspections be the hidden key to a stress-free, profitable sale? Tune in and find out.
Resources mentioned in this episode
EPISODE TRANSCRIPT
[00:00:00] AI Podcaster 1: Alright, so you know how we love to dig into the nitty-gritty of real estate here. Well, buckle up because today’s deep dive is all about something pretty intriguing: getting your house inspected before you even list it.
[00:00:12] AI Podcaster 2: Pre-inspections.
[00:00:13] AI Podcaster 1: Yeah, exactly. I was looking into it and apparently, some folks are saying it could actually help you get more bang for your buck when you sell.
[00:00:22] AI Podcaster 2: Absolutely.
[00:00:22] AI Podcaster 1: And avoid like a whole bunch of drama down the line. So I guess my first question is like, what’s the logic behind that?
[00:00:30] AI Podcaster 2: Okay, so, traditionally, right, the buyer, they call the shots during the inspection phase, you know, they find something, they use it to try to knock down the price.
[00:00:38] AI Podcaster 1: Oh yeah, for sure. I remember the inspection report felt like a laundry list of problems.
[00:00:43] AI Podcaster 2: Exactly. But, with a pre-inspection, you, the seller, you flip the script, you’re in control.
[00:00:50] AI Podcaster 1: Okay, I see where you’re going with this. So instead of waiting for the buyer to find issues, you’re basically saying, “Hey, look, I already had an expert check everything out.”
[00:00:57] AI Podcaster 2: Right. Transparency is key.
[00:00:59] AI Podcaster 1: Makes sense. But in one of the articles I was reading, it talked about sellers using these pre-inspections to, and I’m quoting here—”describe their properties in incredible detail.” So what kind of details are we talking about here? Like, what are the things that’ll really make a buyer’s eyes light up?
[00:01:17] AI Podcaster 2: Think about it from a buyer’s perspective. Let’s say you’re looking at two houses, okay? One, you know nothing about its history.
[00:01:24] AI Podcaster 1: It’s a mystery box.
[00:01:25] AI Podcaster 2: Right. Could be great, could be a nightmare, who knows. But the other house—they hand you a pre-inspection report. It says, “Look, roof is brand new, replaced last year; HVAC, serviced regularly; all the plumbing, totally up to code.” Which one are you going to feel more confident about?
[00:01:41] AI Podcaster 1: I’d definitely be leaning towards the one with all the info, for sure. I mean, knowing that stuff up front would just take away so much of the worry and uncertainty.
[00:01:49] AI Podcaster 2: Exactly. It’s about peace of mind.
[00:01:50] AI Podcaster 1: Okay, so that makes a lot of sense.
But what about the flip side? Like, what happens when the pre-inspection uncovers some problems? Like, there were some pretty scary electrical issues. So how do you handle that as a seller? I mean, are you basically shooting yourself in the foot by revealing all the bad stuff up front?
[00:02:08] AI Podcaster 2: That’s a great question and a valid concern, right? A pre-inspection, it doesn’t magically make problems disappear, it just brings them to light sooner. But that’s also the beauty of it, you know? It gives you options.
[00:02:21] AI Podcaster 1: So walk me through those options. Like, what are my choices if the inspector flags something big?
[00:02:27] AI Podcaster 2: Well, first off, you’ve got to figure out what you’re dealing with. Get a realistic estimate of what it’ll cost to fix. Sometimes it makes sense to just bite the bullet and take care of it before you list.
[00:02:37] AI Podcaster 1: Especially if it’s something major, right?
[00:02:38] AI Podcaster 2: Right. Like that roof we were talking about. If you replace it up front, not only can you ask for a higher price, but you can actually use that new roof as a selling point.
[00:02:47] AI Podcaster 1: “Hey, look, brand new roof.” Yeah, definitely a good selling point.
[00:02:51] AI Podcaster 2: On the other hand, some sellers might choose to disclose the issue and maybe offer the buyer a credit to handle it after closing.
[00:02:57] AI Podcaster 1: So they can kind of factor that cost into their budget.
[00:03:00] AI Podcaster 2: Exactly. It saves you the hassle of managing the repairs.
[00:03:03] AI Podcaster 1: Yeah, that could be a huge time saver for sure.
[00:03:06] AI Podcaster 2: And, honestly, for some buyers, getting a credit might actually be more appealing than having the seller do the repairs, you know. They might prefer to choose their own contractor or have it done to their specific preferences.
[00:03:16] AI Podcaster 1: Okay, so it really comes down to a judgment call for the seller.
What’s the problem? How much is it going to cost to fix? And what makes the most sense for my situation?
[00:03:26] AI Podcaster 2: Precisely. And, you know, at the end of the day, I think honesty and transparency go a long way. Buyers appreciate knowing what they’re getting into, even if it means there are a few bumps along the way.
[00:03:37] AI Podcaster 1: It builds trust, right? Like, “Hey, I’m not trying to hide anything from you.”
[00:03:40] AI Podcaster 2: Exactly. And that trust can lead to a smoother, less stressful transaction for everyone involved.
[00:03:47] AI Podcaster 1: All right, so let’s recap. Pre-listing inspections, they give sellers a chance to get ahead of the game. They can choose to fix problems up front, maybe ask for a higher price, or they can be upfront about any issues, work with buyers to find solutions.
Ultimately, it’s about creating a more transparent and hopefully a smoother experience.
[00:04:05] AI Podcaster 2: I couldn’t have said it better myself.
[00:04:07] AI Podcaster 1: So here’s a little food for thought for all the listeners out there. Imagine you’re on the hunt for your dream home. Would you be more likely to buy a house that had already been pre-inspected?
Something to think about as you navigate the crazy world of real estate.