When go out to get business keep your focus on banks that are in the area you want to work in. Put high emphisis on banks that are local, semi regional or regional. The big banks like Suntrust already use companies like DDN. Your chances of getting them are not as good but by all mean try. You might get lucky.
How much to charge? Thats a question that is determined by the market you live in. I don’t want you guys to think that you can get $100+ dollars per draw inspection. If you know of a place that pays that much for a residential draw inspection please let me know b/c I’ll move there!! Price should not be your biggest concern, VOLUME should be. On of my ways of getting more business when pitching myself to the feet of lenders is I give a price break on Volume. For instance, I tell the bank, “If you give me more than one draw inspection in a subdivision at one time. I will give you $5 off each inspection in that sudivision.”
Lets say I charge $45 an inspection. I get a request to do five in one subdivion for that day. I drop my price to $40 on all inspections there for that day.
If I get one inspection the next week in that sudivision my price stays at $45.
In Nashville there was ,and I imagine still is, a flooding of residential growth and draw inspectors. From what I heard from a friend of mine that works for residential lending that they were paying as low as $20 an inspection. Yeah that sounds bad, but let me shine some light on that. In Nashville and other large markets there are subdivions that could have a 1000 lots in it when complete. These banks would have 20 draw inspections a day from just one sudivision. So if you were one of those draw inspectors you would make $400 a day. Multiply that by four times a week and get $1600 a week. Plus it only takes about 4 hours a day to do the work. Not a bad living in my mind for 16 hrs worth of work. Again VOLUME is most important.
Small Commercial and residential developments are where the money is at. Big banks use Engineers to do these draw inspections. The smaller banks will use their usual draw inspector. I charge a minimum of $100 to do one of these. It all depends on the size of the project and how much detail the bank is wanting me to give them. These have a lot different format than residential.