7 Ways to Sell Smarter with a Pre-Listing Inspection
In a hot real estate market with low inventory driving multiple offers, the value of a pre-listing inspection is often overlooked by real estate agents and their sellers. Data shows the real estate market is starting to balance. And the research concludes sellers could be leaving money on the table.
Investing the $500 now in a pre-listing inspection can pay-off big later, here’s how:
1. “Head in the sand” approach never works
It might seem like a bad idea to show a property’s flaws when selling, but the reality is that any serious buyer will have an inspection and discover them.
2. Drive a higher price
A home with a pre-listing inspection drives a higher sales price in the much same way as a pre-certified used car. The inspection report can be used to support the asking price. Additionally, statistics show that for every $1 of repairs needed, a buyer will ask for $3 to offset surprises.
3. Sell faster
Repair negotiations and work can end up extending and often derailing a contract. This means the home goes back on the market and momentum is lost. Homes on the market longer statistically sell at a lower percentage of asking price.
4. Stand apart from the competition
Buyers have more confidence in a property that has been previously inspected. It shows good will on the part of the seller that there are no hidden issues and creates the perception the property has been well maintained. Often the inspector will offer the seller a summary that addresses positive features about the home and the quality of its maintenance in addition to the full report.
5. Ensure a reputable professional evaluates the home’s condition
Even if the buyer chooses an inspector who is less qualified, that inspector will have to answer to the findings of the pre-listing inspection report.
6. Avoid post-contract negotiations
Any negotiations after the contract is binding will never be in favor of the seller. While the buyer may order their own inspection, the reports should be similar when it comes to the major systems and components of the home.
7. Take charge of repairs
The seller can save time, hassle, and money by being in control of the repair process rather than having to make them within the hurried constraints of the contract.
Take the next step in getting top dollar for your home and schedule a pre-listing inspection.