RISMedia's Real Estate Magazine

FEB 2019

Real Estate magazine is the industry's leading source for real estate news and information since 1980. Published monthly by RISMedia, Real Estate magazine offers timely and relevant real estate news to the industry's top brokers and agents.

Issue link: http://remag.rismedia.com/i/1073841

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Page 72 of 110

68 February 2019 RISMedia's REAL ESTATE With over 25 years of experience in the industry, HomeTeam has identi - fied several considerations to use when recommending a home inspec - tion company. KNOWLEDGE Look for licensing and professional certifications. Not all states require home inspectors to be licensed to perform home inspections. In many states, home inspectors can be part- time or there one day, gone the next. Do your homework to ensure that the home inspection company your cli - ent chooses has the proper state li- censes or, in states where there isn't licensing, that they're members of a professional organization like ASHI (American Society of Home Inspec - tors) or InterNACHI, where they can receive training and certification. EXPERIENCE Seek national brands like Home - Team Inspection Service that have developed proprietary resources, tools and technology designed to provide a level of service above what an independent home inspec - tor can provide. On the national lev- el, they can be found at conferences and events and are constantly track - ing industry news, trends and chal- lenges to collectively provide the best service to clients and agents. PROFESSIONALISM There's no standard insurance cov - erage for home inspectors, but two types of coverage are critical. Gen - eral liability insurance, which covers damage that occurs while performing an inspection, is the most common. Professional liability (errors and omissions) insurance applies to is - sues related to the inspection. This type of insurance covers the agent, so agents can have peace of mind knowing that they're indemnified from recourse after the transaction. Some states require home inspec - tors to have professional liability (er- rors and omissions) insurance, but the minimum requirements vary. Texas, for example, one of the most stringent states with home inspec - tion regulations, requires home inspectors to carry $100,000 per claim and $100,000 aggregate of professional liability, or errors and omissions, insurance. However, they don't require general liability insurance. Look for a home inspection com - pany that carries both professional liability (errors and omissions) in - surance and general liability insur- ance at coverage amounts of at least $250,000 per occurrence/ $500,000 aggregate. A national home inspection company, like HomeTeam, requires that all loca - tions have these coverages regard- less of state requirements. At the end of the day, it's up to the client to choose the best home inspection company for them, but being able to provide some criteria for evaluating a company will help position the agent as even more of a resource. RE Buddy Stark is director of Opera- tions at HomeTeam Inspection Service. For more information, please visit www.hometeam.com. 3 Key Criteria for Evaluating a Home Inspection Company by Buddy Stark A s a trusted professional, clients naturally look to their real estate agent for a home inspector recommendation.

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