Ann Arbor, MI · Member since 2016 · 40 posts · 2 votes
I am wondering how many real estate agents out there that convinced their clients to pass on a final offer due to a less than average inspection? Does this happen a lot?
Investor · Milwaukee - Mequon, WI · Member since 2010 · 5k+ posts · 7k+ votes
10y
yes it does. A lot of agents dont have much or any background in construction, so they are not much help when it comes to interpreting an inspection report. The first home I bought in the US for myself is a perfect example. My realtor was an older lady, we loved her, she was like a grandma. The inspection showed elevated radon levels in the unfinished basement and she kept talking about the dangers of radon and foundation issues in general. Today I have to giggle when I think about it. It was a poured foundation and she got as all concerned about the hairline crack in the corner next to the sump pump. And the radon of course. The house was perfectly fine and just 5 years old, I am glad I bought it and we had the seller install a radon system for $800.
Years later I sold another house and I had a seller walk on an inspection with radon and "dangerous electrical issues": we took care of the radon and the dangerous electrical issues were two junction boxes in the attics that did not have cover plates. The buyers agent was on vaccation and had asked another agent to sub for her: the one time you need a buyers agent to be there and hold hands, she's gone! We had everything professionally fixed within two days, but it was too late. At least we had it ready for the next offer and it sold a month later.
Pacific Northwest · Member since 2015 · 20 posts · 6 votes
10y
I can only speak for myself and the brokerage I work with but I don't try to "convince" my clients to cancel a contract. Ethically that's a very slippery slope. I provide options and resources to assist them in making as an informed decision as possible. If my clients make the decision to cancel based on the inspection report it was their decision, not my recommendation. My clients always have a very clear understanding of the Buyer's Advisory we supply here in Arizona.