Yesterday I received a notice from my broker that the NWMLS is issuing a new policy for brokerages and agents regarding the referral of home inspectors. The consumer protection policy has been put in place to prevent any collusion between the agent and home inspector. Wonder if this is something similar to the crack down on advertising provided by title co's for real estate agents? Just say no to collusion. Wups, back to the matter at hand.
Over the years, the various parties in the real estate transaction have worked hard to establish trust and build a referral based network. A lot people I know and work with and pride themselves on doing a great job for me and my clients so they can further increase their referral business. Nothing new to that business strategy.
The disclosure to be used by real estate agents is a company drafted policy, yah me...I get to write our policy, to include in the purchase and sale agreement strictly stating: the buyer can freely choose any home inspector. Wow, doesn't seem like to much has changed from the past other than there is another form involved in the purchase and sale.
Part of me thinks the home inspector disclosure will not change anything as clients still will tend to trust the recommendations of their real estate agent. Most people who I know, that do not work in the industry, don't know a home inspector off hand unless they are friends. Most people use a home inspector only a few times in their life time so it isn't something that buyers are going to have right off the top of their head.
Anyone have any thoughts on the new NMWLS policy?