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Tuesday, October 25, 2016

Southwest Florida Business Spotlight: Ken Egan

Ken Egan always recommends getting a pre-inspection, whether you’re a buyer or a seller. As you’ll see, they benefit you in more ways than one.

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Today on the show you’ll meet Ken Egan. Ken is the owner and a certified home inspector with Pillar To Post Home Inspections. Today you’ll learn about the most costly and common issues found in homes here in Southwest Florida. You’ll also learn some unique ways to use a home inspection to your advantage beyond just the methods used by traditional real estate agents. At the end of the podcast, Ken and I will have a giveaway for our loyal listeners. Ken will be sharing a super special discount if you’re interested in getting a home inspection.

Doug Leugers: Welcome to the show, Ken.

Ken Egan: Glad to be here.

Doug: Why don’t we start off by pretending you’re in an elevator with me and I’m curious as to what it is that you do. How would you give everybody an overview of what it is that you do?

Ken: The service that we provide, the home inspection process, would include the inspection of a home, whether somebody is about to sell or they’re interested in purchasing one. We can go in with an expert’s point of view in viewing the attic, the roof system, the AC system, the hot water heater, the entire plumbing system, the electrical system, doors and windows, structural, and any other concerns that the home buyer or seller may have.

Doug: So you provide peace of mind when it comes to buying a home, essentially, right?

Ken: That is correct. The most important thing is to give the client more awareness to exactly what they’re about to purchase so there are no surprise costs.

Doug: What are some of the most common and costly issues that you see here in South Florida?

Ken: Well, the most common issues that we do see are probably more plumbing-related. It can be something like simple maintenance issues, like doors or windows out of adjustment. But plumbing, there might be moisture issues, whether it comes from plumbing systems, or sprinkler systems, or even a roof, and the AC system. The most costly out of them, I would say, would be the roof, followed by the AC system, and, of course, plumbing, depending on the extent of the problem.

Doug: Being that that’s the most costly—the roof and the AC replacement, usually—what kind of  price range or cost are we talking about there?

Ken: Well, I just re-roofed my home, which is about 3,000 sq ft., and that was around $12,000 for a shingle. You can figure if you want with a tile roof or a slate or something, you can figure it’s going to be double or triple.

Doug: Wow, $24,000 at least.

Ken: But they last longer than shingles.

Doug: Yeah, that’s true, but still could be a huge cost expense to a buyer that wasn’t expecting that. I’ve heard about pre-inspections—I’ve heard a lot of top agents across the country talking about it at these different real estate events that I’ve been to, and how they use pre-inspections to save their customers money, and a lot of money. That being said, can you explain what a pre-inspection is and how and why a homeowner should invest in a pre-inspection and how it will save them a lot of money?

Ken: First, I’d really recommend a pre-inspection to anybody who’s interested in selling their home. What it is, is it covers the same territory of what a regular home inspection would be if they were a buyer. The advantage of it is that by having a pre-inspection, you would be made aware before a buyer is there and wanting you to repair it. So there is no surprise repairs that need to be done, and can possibly be remedied at much less cost than a buyer wanting you to be compensated for.

Doug: Gotcha. Yeah, to put some numbers to that, it’s said that around 30% of deals, give or take, fall apart from the time they go pending to the closing table, and a lot of those issues are because of home inspections or things popping up in a home inspection that concerns a buyer and a seller. Then negotiations go downhill, and the property doesn’t close, which, obviously, is an advantage to the buyer—not buying a property with problems that they don’t expect. So getting a pre-inspection basically reduces the chances of negotiations going downhill for a seller. They can then repair those problems for a lot cheaper and essentially put a lot more money in their pocket. I was reading a statistic the other day where homes that get pre-inspections sell from anywhere between 2% to 4% more than homes without pre-inspections.

Ken: I’ve heard that as well.
Always get a pre-inspection.
Doug: I know that when we use them, the negotiating stance from the seller’s point of view, we take a lot of the negotiating chips away from the buyer, which makes the process a lot faster and better for the sellers.

Ken: I’ve seen where the buyers were pleased that it was a more favorable showing that the seller was that confident in their home by having the inspection to begin with.

Doug: So let’s touch a little bit on new construction. Obviously we sell a lot of new construction in Southwest Florida, and one of the most common questions we get asked by our clients who are buying a new construction is, “Should we get a home inspection?” What’s your thoughts on that?

Ken: Yes, yes I would, Doug. You can have the best builder in the world, and there a lot of very large building companies out there, construction companies, and the reality is that they will hire subcontractors, and it is possible that a subcontractor or their employee could make a mistake. What we can do is, if we are there to do the inspection at closing or even a few days after, we can identify those issues so you can bring it to the builder while it’s still in its warranty period. What we like to do is to return before the warranty expires, even if it’s a one year warranty and do another inspection included in the cost to make sure that those issues are brought to the builder before the warranty is up.

Doug: So there are still quite a few issues that you can find in a new construction.

Ken: Sure, it could be cosmetic, it could be something like a reverse polarity outlet. Nevertheless, even if it’s minor, if it’s under warranty, then I’m sure you’re going to want to take care of it. And the cost of the inspections are much less than what some of the repairs could be.

Doug: And you can work with the builder, and the builder is usually pretty open to fixing those things.

Ken: Absolutely.

Doug: Great. Well, that pretty much answers all the questions that we had for you. What kind of special would you be willing to run for any of our customers or listeners that need to get a home inspection?

Ken: Well, if anybody would like to have a home inspection, they can contact us or through you. We’re offering $40 off toward any home inspection package that they choose.

Doug: Okay, and they just need to mention this podcast?

Ken: Mention your name.

Doug: Awesome. We mentioned that we had a special giveaway. What kind of giveaway were you thinking about?

Ken: Well, if you meant in the very beginning of the podcast, I mentioned that the most expensive cost to repair, what the item was. If you go to our Facebook page, which is Pillar To Post Inspections - Naples, and give that answer of what is the most expensive cost to repair, then we will give you a $50 gift card.

Doug: Let’s take that just a step further, because I think we can. Let’s say anybody that goes to your Facebook page, likes your page, and then answers the questions and shares the post—

Ken: That is correct.

Doug: They share the post, and then you’ll draw a name, and whoevers name gets drawn gets a $50 gift card to—what do you say?—how about Nice Guys in Cape Coral. Is that fair?

Ken: Sure.

Doug: Alright, we’ll do Nice Guys there in Cape Coral, which is an amazing pizza place with some craft beer, so if you’ve never been there it’s a place you definitely got to go. Definitely worth it. Ken, thanks for joining us today.

Ken: Glad to be here. Glad to come back anytime.

Doug: That was very informative. I’m sure a bunch of listeners will find great value in that, or possibly know someone who will. Again, if you’re interested in getting a $50 gift card, go to Pillar To Post - Naples, like the page, and answer the questions and share the post, and possibly win a $50 gift card to Nice Guys in Cape Coral. If you’d like to learn about other businesses in our community and get awesome discounts in those businesses, go to our Facebook page—Leuger’s Real Estate Advisors - Florida—like our page, and we will keep interviewing businesses that provide good service to Southwest Florida. Thanks for listening.