Purchasing a home is one of the most satisfying and exciting moments in life, but it also can be one of the most stressful. Fortunately, over the past 15 years, many aspects of the purchase process have been streamlined. For example, you can search for homes online on websites like realtor.com & Zillow, and you can sign documents electronically with services like DocuSign.
However, one aspect of the home purchase that hasn't changed much since the mid-1970s since the process was officially formalized is the home inspection. A quality home inspector will deliver to you the most important information you will receive in a home purchase - the home inspection. Home inspections are used to provide an opportunity for a buyer to identify any major issues with a home prior to closing. Your first clue that a home inspection is important is that it can be used as a contingency in your contract with the seller.
But, this is just the first half of the home inspection. Then comes everything you need to do once you have the home inspection.
The second half of the home inspection is that period of time after you receive the inspection report and when you finish negotiations on any repairs or credits.
And so much needs happen during that time, can be stressful and chaotic for agents, buyers, and sellers.
You see, within 3-10 days after receiving the inspection report, it needs to be reviewed and prioritized. Then depending on the home's condition, you need to find contractors, coordinate contractor visits, and receive estimates from the contractor. From there you'll synthesize the data to decide what to do next, draft a repair addendum - often an ugly cut and paste project - and then hope to still have time to negotiate – all while keeping the seller interested in holding the deal together. It's a lot!
In our conversations with contractors, they revealed that it's stressful for them to provide estimates in such a short amount of time. Like you, they're already busy working on other jobs, doing administrative work, and finding new clients.
When contractors first start out, they'll provide estimates to help grow their business, but eventually, their business grows enough that they only keep providing estimates for their favorite agents. That's because most estimating work done during escrow doesn't lead to paid work; because they're mostly only used for negotiations.
This is why we regularly hear from contractors, "We love Majordomo. It's super helpful that you do the estimating, and we get to focus on the work!"
You don't need to keep your appreciation a secret or wait until the 3rd week of September for National Tradesman Day to express your gratitude to your favorite contractors. Take a moment today to call, text, or send a notecard of thanks. They will love you for it! Then on your next home inspection, use Majordomo to get your repair estimates in 24-hours or less, then recommend your contractor to complete the work. It's a win for you and a win for them.
Lee recognized a few missing puzzle pieces in real estate transactions after spending 16+ years as a top producing real estate broker participating in 1,100+ transactions: the understanding of a property's condition, the story of a property, why it matters, what to do next, and who to call to for help. As CEO, Lee oversees the company vision, manages sales and marketing, and exploring business models. "Let's improve the owner's relationship with their home."
Majordomo created the Domoreport.
The Domoreport is the most in-depth report on a home’s condition ever created, yet it’s easy to read and you can quickly figure out exactly what your buyers need to know. It’s the new standard for helping home buyers quickly understand the condition of their home with local and highly accurate repair estimates based on their inspection.
The Second Half of the Home Inspection