With the Real Estate Market experiencing an upward trend, there has never been a better time to get your home inspection certification. Consumers are once again buying and selling more frequently and with more resources promoting a “buyer beware” mentality, are doing so with a new, more cautious outlook. The drop in the market seen over the last few years has created some uncertainty about home buying and customers and real estate agents are eager to buy and sell homes that come with a guarantee that customers are getting what they have paid for. Home Inspectors are the key to ensuring customers are satisfied with their purchase decisions which means there is an incredible opportunity to start and run a successful home inspection business.
If you are interesting in starting your own home inspection business, here are some important tips that will help you find success in the industry:
Get Insured
The home inspection industry is somewhat unique in that no industry standard exists for certification. Unfortunately, this means that there are many inspectors out there who are working without insurance. Home Inspection insurance ensures that both you and your customer are covered financially should you face unforeseen circumstances. Customers will be advised to hire a home inspector who carries insurance which is why it is a crucial part of your business start up.
Provide Reports
Inspections are not completed on a pass/fall basis. Home inspectors should provide a detailed report to their customers with detailed information about the condition of all of the integral parts of their home. In many cases, home buyers will require this inspection report in order to receive home insurance or full financing approval.
Educate Yourself
Your home inspection certification will provide you with the knowledge you require to complete safe, thorough inspections, but there is much more to learn. When you become a home inspector, you will also want to learn about real estate practices, building codes, and current construction trends. Take every opportunity that you can to talk to others in the industry, take courses, and attend workshops. Your knowledge will be an effective tool for creating a solid customer base for your home inspection business.
Build a Business Network
Your business will become much more than just home inspecting which means it is important to build a strong network of people who can help you have success in marketing, customer service, accounting, scheduling and developing reports. You’ll also want to attend events where you can build relationships with realtors, potential buyers, and home construction companies so that people will remember your name when it comes time to have their home inspected.
Building your own home inspection business can become easier if you invest in a low cost franchise with A Buyer’s Choice. Not only do we provide the tools you need to receive to become a home inspector, we help you select an insurance provider, we give you a reporting tool that makes your reports quick, easy and useful, we provide educational opportunities in a variety of areas relating to home inspection and, we can offer a network of well-known, experienced home inspection business professionals who can help you every step of the way.
Secure Funding
The are many different options when it comes to business funding. In the franchise industry there are 3 primary funding options for home based service businesses such as home inspection.
- SBA Express Loan (USA only)
- Unsecured Bank Loan Program
- 401K Business Financing – Using your retirement funds without incurring a tax penalty to invest in your business
- Buying an Existing Business