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Monday, January 14, 2008

Home Inspection of the Future

The Real Estate industry is highly regulated. Each state in the US has it's own set of rules and regulations, and each one is completely different from the other. Many are moving into fingerprinting and streneous background checks as well as.

On the other hand, the Home Inspection industry has been largely unregulated. Recently I've noticed that many states are picking up Home Inspection regulations; requiring licenses, continuing education, and registration with the state.

Specifically I've seen mention of Arkansas and Florida thinking about moving to a regulated home inspection model. Florida promises to put recently approved legislation into effect in early 2010.

With the home loan industry in trouble, and the mass of houses on the market due to foreclosures, we might see this industry regulation pushed even faster than previously thought.

While it'll be nice to have this part of Real Estate regulated, it brings up the question, how happy are the newly regulated home inspectors going to feel? This will definitely restrict entry into the market, but from my perspective, I can't see anything bad about it. What do you think?

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