Hey Guys, I’m as green as it gets in the business and was curious as how some of you price small condo apartments. I recently did a condo of about 620sqft and charged $240. I also got another request for another a even smaller condo here in south Florida and charged about the same. I felt like it was reasonable given my experience and the size of the condos. Do you guys believe this to be in the proper range or was I to low? Please let me know based on my experience and the area I live in and work, which is anywhere from Miami to Boca. Thanks.
Cristian, welcome to our forum!..Enjoy!
I don’t know you experience but when I retired my smallest condo price was $475 but I started doing some inspections in the late 70s and I live in a great resort town…think money. So, I think you are low in your pricing.
Call around (or, have someone else do it) and see what the going prices are and place yourself a little above the middle price wise would be my recommendation. That keeps people from knowing you are very new and inexperienced. For all I know, you have a great background for home inspections and are not green, as you say, except for the new business workings.
My dad has been a GC here in south Florida since the early 90s I worked a lot with him on and of when I was young and in the summer months when I wasn’t in school. I also have a FL Real Estate license as well.
You can definitely raise your prices, Cristian. IMHO
I don’t leave the office for less than $395
My strategy is always to price on the upper end of the range. Clients perceive you differently and price shoppers are usually the worst clients you can get. Much higher maintenance than folks who want to hire a better inspector.
I hadn’t checked pricing in a couple years and an agent I work with told me everyone else has been raising their prices and I was too low. My bad, prices went up immediately.
Good info. I definitely don’t want to attract less desirable clients especially here in South Florida.
Just soak them for as much as you can get…Yep!
There is another gold nugget!
Thanks, John! I found the same to be true.
Looks like everyone beat me to it but on site is only a small portion of your time and expenses. I will not touch a condo in NYC or Florida for less than $495 (amaybe I can get chewed the cost of coffee but thats it) We are professionals. Best of luck and charge a lot more
Point taken on all the comments. Hahaha. Thank you all for the help and input.
Now, go out and make a couple million!..it can be done!
Thanks Larry, I like telling price shoppers how long an inspection should take, then listen to the silence when I give them the price. Sometimes they surprise me and say OK!
I never really gave a time estimate unsolicited but if they asked, yes. I would say something like e.g. “you know, Mr. Carson, it will take as long as it takes so you know that condo inside and out and if I had to guess, with the info that you gave me and getting to know you a little bit, I would say 2.5 to 3.5 hours. Maybe a little more or less but my main objective is for you to feel like you have lived there for a while already and are comfortable with what we find out.”
I rarely got to listen to silence because I knew I had them WAY before price was talked about.
On the flip side, if I came to know that we were not a good match, I would make the decision to quash the potential inspection via doubling the price (I was going to make great money for any annoyances that I expected. ) or having a full schedule out past his inspection contingency period…depending.
Your fee was cheap by $100 or more
Lesson learned I guess. lol. Especially in the area I live/work.