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Would anyone in the know care to share their thoughts on the future of the Home Inspection industry. I am considering a career change and since I’ve been around the building industry for 25 years I thought it may be a logical option. Any insight would be appreciated.
Thanks
Buntz
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I don't know about the "industry" but you have to make friends with the real estate agents to get jobs. If you do a job of inspection that may be considered unfavorable to the agents, you may not be asked to inspect a house again for that pair of agents. Agents are the one who call you to make an inspection. There is alot more to this than just a home inspection. It is my understanding is that the agents want to get out of the area of responding to a customer about the conditions of a home, so they refer it to a home inspector. The same way they have used the disclosure statement to get out of any problems with the house after the sale. they just point to the disclosure statement of the previous owner.
I have looked into this and made my assessment that I don't have the personality for the the job.
*Bryon,It seems to be pretty easy to be sued in the home inspection business.I had a stint of jury duty a few years ago,and one of the potential cases involved a home inspector.A couple had bought a house and lived in it for 6 months or so when the basement started to leak. The new owners sued the previous owner,the company that had waterproofed the basement for the previous owners ,and the home inspector hired by the new owners.It seemed the new owners felt that since the home inspector had given his professional OPINION about the condition of the house they could interpret his opinion as a gaurantee or warranty!If I was going into this business I would get a good lawyer to write up a good contract that clearly shows that your inspection and evaluation of a house is based on your professional opinion and is NOT a warranty.Good Luck,Stephen
*"BUNTZ"HOME INSPECTORS DO SEEM TO CARRY EXCESSIVE RISK IN THEIR PROFESSIONS, BUT OUR LEGAL FRIENDS HAVE CREATED E&O POLICIES TO "PROTECT" THEM. AFTER SPENDING 10 YEARS DOING HOME INSPECTIONS I'M NOW BACK TO DOING WHAT I LEFT OFF PRIOR TO ENTERING THE PROFESSION. I QUICKLY LEARNED THAT BEING A CONSTRUCTION "GENERALIST" IS ONLY HALF THE BATTLE IN THIS COMPETITIVE FIELD. ONE MUST BE ABLE TO STIKE A BALANCE BETWEEN "PLEASING" YOUR CLIENTS AND AGENTS, (AND LETS NOT FORGET THE EXISTING HOMEOWNER'S). EACH INSPECTION SEEMED LIKE AN INTERVIEW FOR ME, PRETTY HIGH STRESS, WHILE TRYING YOUR DARNDEST TO REPORT THE CONDITION OF THE HOME, AND HOPEFULLY NOT MISS ANYTHING.ANYHOW, HOPE THIS GIVES YOU SOME INSIGHT EITHER WAY, GOOD LUCK.
*I think it would be nice to have home inspection as a sideline, not a full time job. I imagine it does require relationships with real estate agents, and the resulting conflict of interest. We relied on our agent for a referral to a home inspector, but this agent was of unimpeachable integrity, really remarkable. i've heard there are plenty of worthless inspectors.It was my impression that it was hard to sue a home inspector. they pretty routinely disclaim liability for all but gross negligence. However, you could still be named in a suit and i'm not sure how cheaply this can be shrugged off.
*I quit doing home inspections (didn't do many anyway) because of all the suites that pop up. I've talked to several home inspectors & real estate agents thaT have been involved in such suites. While it it may be true that it is difficult to succesfuly sue for an opinion, it is also true that you can be sued for any bull shit reason a client can find.
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I have been a home inspector for about 5 years and enjoy it very much. I am retired and don't need it to live on so I teamed up with another home inspector who does all the sales and smoozing of the real estate agents and I just inspect - he gets 50% of the fee, plus he deals with the phone, files the reports, deals with the lawyer, and provides the documentation (book) and the contract. A good home inspector is like a good doctor, you MUST have a good "bed side manner". You do a very thorough home inspection, you read the trade mags (fine homebuilding, Journal of Light Contructions, etc.)you learn how to tell the client about the house without alarming them about minor things, and convince your realtors that a good home inspection will save their butts and build a client base. Even so, many realtors will cut you off for little reason. Join American Society of Home Inspectors and go to their monthly meetings. And, above all, go to a good 40 hour plus training class - it is amazing how many holes there are in knowledge and this will help identify them. Have a great product and a equally great presentation and you can do pretty well.
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What's the going rate?
As for fear of lawsuits, I'm sure realtors have similar exposure, and they do OK. As usual the answer is probably insurance.
It is a great service to the homeowner if done well and probably even helps the seller by easing suspicion; I'm not sure how many inspectors know what they're talking about though. The people I'm working for now said the inspector noted some of the problems I'm pointing to now adn said $500 here, $500 there ... maybe he was to blase or maybe the buyers failed to add all the $500's up.
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In Washington DC area my company's going rate is $225.00 or 1 per cent per thousand, which ever is greatest. There are some cheaper and take less time but in this case caveat emptor. The average inspection takes about three hours. I carry no insurance, just do a helluva good job and try to make sure the client understands that - of course there is always the real jerk, who no one can please - I'v not had one yet in 5 years- but hopefully when I do meet him/her, I will recognize them and terminate the inspection and leave.
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your background?
I was appreciative of our inspector's work (Mark Steele -- VA?) ... though if I'd had to pay someone else to fix what he did not find I'd be pretty upset. I'm not sure how far the inspector should be expected to dig upon seeing, for example, DIY work (shudder).
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hey dude you have to know what your doing. I have been doing inspections for ten years and have never been sued or even insulted. Dont try to become an inspector without having major experience in building, rehabing, and a love for the bussiness. You dont have to shmooz agents or clients if you know what your talking about. If you know how to inspect and are competent the agents and clients will become your sales force. good luck
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Would anyone in the know care to share their thoughts on the future of the Home Inspection industry. I am considering a career change and since I've been around the building industry for 25 years I thought it may be a logical option. Any insight would be appreciated.
Thanks
Buntz