Who Are The Stakeholders?

Many home inspection firms are operated as sole-proprietorships or owner-operated limited liability companies. The differences are minimal, but the point is that home inspection firms are typically small companies. So this narrows down who the stakeholders are relevant to any decision made by a home inspection firm. The stakeholders become the home inspection firm, and stockholders or investors, and the clients that the firm serves.

Over the years, many professional home inspection associations have suggested that stakeholders include the seller of a property, the real estate agents involved, and the mortgage broker in addition to the home inspection firm, investors, and the firm's clients. This is improper and wrong. Real estate agents have no interest in the home inspection firm, therefore they are not a stakeholder. Likewise with the seller of a property, or a mortgage broker. While these parties may be indirectly impacted by decisions made by the home inspection firm, they have no legal or financial interest in the firm. They should not be considered stakeholders.

Home buyers should be wary of home inspection firms that consider parties that do not have a financial or legal interest in the firm as stakeholders. This will more often than not muddy the agency dilemma faced by the home inspection firm, and could create a scenario where the client's interests are not a priority. As the saying goes, buyer beware.

Radon Action Month

Michigan Radon Action Month is January, and this year it seems to have passed by without a lot of attention. Radon gives off radiation as it deteriorates. As a gas, Radon is easily inhaled, and tends to attach itself to dust and other particulates in the air. Once Radon enters the lungs, radioactive solids are formed as the gas deteriorates. As these solids sit in the lungs, they give off radiation, which can alter the makeup of lung cells, thereby causing cancer. The only way to know if your home has elevated Radon levels is to test for Radon. There are many ways to do this. Some methods are free, such as procuring test canisters from your local health department, exposing them as directed, and sealing them and sending them to a lab for analysis. For more reliable tests, professional testing can be done. This typically costs between $95.00 and $130.00, depending on the testing agency and method. If you have not tested your home for Radon, please consider doing so. It could save your life.