ProSchools online real estate courses are designed to help you pass your state and national exams the first time. Passing your ProSchools course is the first step. You will also need to learn the various types of housing construction and home repair issues and be able to best advise your clients when working in the field.
ProSchools suggests you learn the different types of sidings, foundations, roofing and repairs, gutters, windows, and other areas of home products and concerns. We also suggest you become familiar with radon gas, lead based paint and the warning signs of a drug contaminated home.
Do your homework! Look up Home Depot building and other materials. Go on home inspections with experienced agents, talk to a home inspector and ask questions and use the Internet for other online research. Charlie Rouse of Associated Master Inspectors, LLC is often a guest speaker at ProSchools, explaining to new real estate licensees the home inspection process.
If you can identify signs of major home repairs, you advise your client right away. As a listing agent, you can advise your client to fix the issues prior to listing, to expect a reduced offer or pay for the repairs during the transaction. Buyers typically will not purchase a home with major repairs unless they are buying it at bargain.
When representing a buyer, you can save a lot of time and money if you notice major repairs upfront. You should talk with the listing agent before submitting an offer and ask if the seller will fix the issues then determine if your buyer wants to move forward. If you can identify major repair issues ahead of time, you are one step ahead of the game. You still need to hire a home inspection to confirm your findings and find any additional issues.
Major repair signs include: Cracks in a foundation, a bad roof, old LP siding, imitation stucco, water in the crawlspace, dry rot, out-dated heating and electrical systems, old wells or oil tanks, uneven flooring are just a few signs of extensive repairs. Knowing what to look for, what these issues mean and how to negotiate price using repairs is crucial in representing your client’s best interest. Making a reduced offer on a home with repair issues could save your client thousands of dollars.
You’re not expected to know everything about home repairs, which is the professional home inspector’s job. The more you know the more professional you appear, your clients will be thrilled and will refer you to their friends.