Originally Posted By: Rusty Rothrock
This post was automatically imported from our archived forum.
Pricing of home inspections is obviously going to differ in various parts of the country, just like the cost of living differs, housing costs differ, real estate taxes differ, etc., etc. Here in Richmond, VA if I were to charge $350-400 for a 1500 sq. ft. house, I'd be out of business and sitting at home all day wondering why no one calls. They might be able to charge that up North but not down here.
When I first started my HI business some 7 years ago, I checked all the HI prices that were being used in my area and came up with an average (per size of house). I then set my prices approx. $25 dollars cheaper than the going price. My marketing philosophy was to try and build up my Realtor base by performing top-shelf, professional, quality home inspections for reasonable pricing.
My approach worked and I now run a very successful HI business. I work for myself and have no employees, I now do inspections on a regular basis for over 200 Realtors, I average over 600 inspections a year (3 years in a row), I take a major two week vacation each year (just got back from China recently), and I am very active in my church community.
The bottom line is...would you rather be out working, getting business, staying busy on a regular basis due to your fair inspection pricing or would you rather be sitting at home with no work due to charging excessive fees for home inspections.
Over the years I have moved my pricing upwards to be about average with my competition. Pricing doesn't matter as much now because now I have an excellent reputation in the business and have an established Realtor network (plus adding new Realtors each month). For your information, I have different pricing categories: below 1600 sq. ft., 1600-2400 sq. ft., above 2400 sq. ft.
In closing...like in any business, if you do the best job you can possibly do, if you treat people like you would like to be treated, if you charge for your services in a reasonable and competitive fashion, and if you "go the extra mile" without any hesitation and for whatever reason... eventually, you will become successful and prosperity will follow.
"There is no scarcity of opportunity to make a living at what you love; there's only a scarcity of resolve to make it happen." Wayne Dyer
Wishing you the best for the New Year,