AARST_Radon_Reporter_Q32022_FINAL

THE RADON REPORTER | 13 INDUSTRYTRENDS 2022 AARST Survey Results In September 2022, AARST checked in with industry members to better understand the status of their businesses. The following results come from the 263 businesses that responded. • Services: 51% measurement only, 8% mitigation only, 41% both measurement and mitigation. • Soil Gas Work: 4% mostly or all VI, 3% 50-50 radon/VI, 27% radon/some VI, 67% radon only. • Workforce Size: 45% one worker, 35% two to four workers, 10% five to nine, 10% ten or more. • Longevity of Business: 33% 20+ years, 23% 10-19 years, 23% five to nine years, 21% < five years. • Clearance Testing Included in Mitigation Cost: 84% yes, 16% no. • Credentials: 76% NRPP certified, 67% state- credentialled, 10% NRSB certified. AARST also asked about business challenges given the radical swings in demand for radon services triggered by COVID and the reduction in home inspections/home sales contingency: AARST also asked what businesses saw on the horizon. More than half anticipate staying steady or growing; one third envision an uncertain outlook; only 2% expect to retire or move on. Housing Market Matters Agent Responsibility A November 2022 National Association of Realtors (NAR) article advises it members to not simply go along with waivers of contingency to avoid claims of misrepresentation. “Failure to properly disclose can lead to misrepresentation claims, ranging from fraud to negligence and, in some states, innocent misrepresentation,” Deanne Rymarowicz, associate counsel at the National Association of REALTORS®, warns in the latest “Window to the Law” video. She cites a court case in which an agent was ordered to pay $170,000 after being found to have shown a “reckless disregard for the truth” by not disclosing a listing’s prior water damage. Read the entire article here. Seller Disclosure [ Read the article here} Cinch Home Services surveyed both homebuyers and home sellers on the kinds of damage they have dealt with and how they remedied it. The results underscore the need for thorough inspection and disclosures. The data show that sellers and buyers proceed with home sales with undisclosed problems: • 60% of sellers admitted to selling a home with an issue the buyer was unaware of, and 65% admitted to an issue at was worse than the buyer realized • 74% of sellers admitted to hiding issues with shoddy repairs • 77% of sellers said their real estate agent encouraged them to mislead the buyer • 95% of buyers discover issues such as unpermitted work (74%), a known problem worse than expected (57%), and previously unknown issue (52%). Realtor Survey Result A recent confidence survey by the NAR reports that realtors are seeing reductions in the number of properties selling within 30 days, inventory is rising, prices are moderating, and the sale to list price ratio is falling but the proportion of cash sales remains around 25%. HOW HAS YOUR BUSINESS'S WORK CHANGED SINCE COVID? HAS THERE BEEN REDUCTION IN DEMAND DUE TO NO CONTINGENCY? 33% No Change 35% Down >20% 20% Down 20% /+ 23% No Reduction 18% Up <20% 18% Down 10-20% 15% Down <20% 13% N/A 14% Up 20% /+ 11% Down <10% 33% 35% 20% 23% 18% 18% 15% 13% 14% 11%