No Broke Months For Salespeople - What You Need to Know When Dealing With an Inspection Report

Episode Date: June 10, 2023

What you need to know when dealing with an Inspection report.Real Estate Coach Dan Rochon of No Broke Months for Real Estate Agents talks about how to properly deal with an inspection report.In this episode, Dan explains how to properly tell your buyer about the status of the house, what they want to be fixed, and negotiate about the prices.Learn more about what you should remember when handling an inspection report in this new episode of No Broke Months For Real Estate Agents.--To find out more about Dan Rochon and the CPI Community, you can check this link:www.NoBrokeMonths.com --Stop 🛑 wasting your time ⏳ or spending too much money 💸not getting the results you want in sales; I would love you to join me for the upcoming 5-Day Listing Challenge.You will learn how to find YOUR Way to having closings every month.www.5daylistingchallenge.com--Get your free copy of the Real Estate Evolution here:bit.ly/RealEstateEvolution_GetYourBookThis book shows you the step by step on how to:Step 1: Believe in your unknown potentialStep 2: Deconstruct persuasion techniquesStep 3: Find a business and get hired consistentlyStep 4: Be proactive in the relationship with your clients.Step 5: Learn and implement the exact steps to hire, train, lead, and train virtual assistants so that they can build, support, and guide a winning team to scale.And if you’d like to have a consistent and predictable income, like this page, and don’t forget to join the Facebook group to network with the top agents:https://www.facebook.com/groups/thecpicommunity/ To find out more about Dan Rochon and the CPI Community, you can check these links:Website: No Broke MonthsPodcast: No Broke Months for Salespeople PodcastInstagram: @donrochonxFacebook: Dan RochonLinkedIn: Dan Rochon

All right. So going back to share the report or not, I would share the report with them when you share the addendum with them. OK, and then you're going to give them five days to negotiate on that. Put a dollar figure in there and then bullet point itemize whatever it is you want them to repair. All right. But then you put a number that's less. Call it five thousand. And now you got a less of a number. And it's like, well, the windows are actually going to be 20,000 and they're only asking for five and now it's better in your negotiation that you're going to get the number that you want. Welcome to the No Broke Months for Real Estate Agents podcast. Working as a real estate agent can be incredibly rewarding and fulfilling, but it can also be frustrating if

you aren't making the money you deserve. So if you're ready to end the stressful cycle of working hard for no results, then get started with a proven step-by-step system so that every month is No Broke Months. My name is Dan Roshan. I'm the host of the No Broke Months podcast, which is a show for real estate agents to help you have no broke months. Thanks for joining me. Enjoy the show. What you need to know when dealing with an inspection report. Real estate coach Dan Rochon of No Broke Months for real estate agents talks about how to properly deal with an inspection report. In this episode, Dan explains how to properly tell your buyer about the status of the house,

what they want to be fixed, and negotiate about the prices. Learn more about what you should remember when handling an inspection report in this new episode of No Broke Months for Real Estate Agents. All right, Bosman, what you got? The agent asked me to share the inspection report, so I don't know if it's like okay to share it. Do I need to get the permission from the buyer to share their inspection report? And what if I, like, how do I deal with the inspection report?

Because it has lots of like cosmetic things and also some serious issues fixable but it costs a lot of money which is like windows all right so here's what you want to do you have this conversation with your buyers today you're going to learn this conversation tomorrow by the way and in the future you're going to have this conversation before you get to where you're at right now it's okay right like this is all new to you so it's completely fine the conversation you're going to you're at right now. It's okay, right? Like this is all new to you. So it's completely fine. The conversation you're going to have with them right now is that you're going to say to them, you say, Mr. Buyer, what we want to do is we want to look at this inspection report and we want to look at the big rocks. That's anything that may cost you some money. And those are the things that we want to focus on. Anything that's

rather insignificant, we want to just leave those alone. We did have that conversation. Perfect. So now what you're going to do is you're going to take the home inspection report. You're going to discuss it with your buyers, identify what's important to them. And then there's going to be a home inspection addendum. And in that home inspection addendum, you're going to request what you want them to repair. What I typically will do is to put a number in there a dollar sign uh because i'd rather have the the buyer fix it because if they fix it then there could be additional problems that will show up okay my lender also advised me that if i ask for a dollar amount that won't be marked as

inspection reports or anything but like a gift or something from the buyer. How much do you think in this market should we ask for? It depends on what the problems are. The problems is like all the windows are old, need to be replaced. Yeah, but my opinion on that is those windows, when they wrote an offer on that property, anything that's visible, I'm not going to recommend and negotiate it because they knew before they wrote the offer that those windows were crap. How about the leak? There are two leaks in the bathroom. How much do you use typically?

And the leak is a significant leak actually from the plumbing or is it? It's like from the vanity itself, like the pipe that goes from faucet. Get a handyman to take a look at it and give you a bid. Okay. So what you want is you want to get like, what's a real number of what it's going to cost to fix all this stuff. So that's the answer to your question of like how much it's whatever the real number is. Okay. So if it's an HVAC, you got an HVAC guy there, whatever the case may be, do you need a handyman or I'm sure you have handyman right all right so get your handyman to go out and look at the things that your client's concerned about the windows i would see if i can sort of veer them off on that but you could put them in there and put some sort of dollar number

in there but if you're looking at replacing windows it's 350 a pop that can get expensive there's probably 25 or so windows in there depending maybe even more right like that could be a big ticket item yeah just get somebody to go out there look at the items give you a bid on what it's going to cost and then when you get that let me know but in general things that they couldn't see something like that came up with the report that was not visible right in general yeah Or it's just basically things that are going to cost them money. Jeff, go ahead. There's something out there. A phrase I use all the time is age is not a defect.

My God, Jeff, you're just making me feel so good about myself today. Oh, I use it for me too. Yeah, I was going to say, man, I'm feeling good now. Age is not a defect. I like that phrase. Age is not a defect. All right. So going back to share the report or not i would share the report with them when you share the addendum with them okay and then you're going to give them five days to negotiate on that put a dollar figure in there and then bullet point itemize whatever it is you want them to repair you could put in those items the windows for example all right but then you put a number that's less call it 5 000 and now you got a less of a

number and and it's like well the windows are actually going to be 20 000 and they're only asking for five and now it's better in your negotiation um that you're going to get the number that you want okay does it make sense yeah yeah and um you said i i can share the report without even going back to the buyer and say like. Ask them and I would tell them, I would just say, hey, here's what we're going to do. We're going to ask for these numbers. We're going to share the report with them. The reason why you want to share the report with them, because the report's going to be more significant than what you're asking for.

Okay. So on the report, there's going to be a hundred things they're asking for. On your addendum, there's going to be five things you're asking for. And then you're going to give a dollar number that's going to be a little bit less than what it would cost to do all those five things. Are you good? Yep. That's it. All right, cool.

Thanks, Bosma. Thanks so much for listening to the No Broke Months podcast today. Until the next show, I invite for you to be grateful, make good choices, help someone, have the best day of your life, and go find a listing.