"We'll buy your house back" new program

The only information given to Internachi is the street address, I don’t even put in the city. Granted, this would be easy to figure out but the big picture for me is Internachi goes on a limb for this, the money is not the issue, the quallity of the service is and what were selling is assurance.

All I see is the big picture.

More bs stats pulled from some ones backside.

That doesn’t mean INachi isn’t aware of Exactly who the inspector is.

No JJ the only ones that piss me off are you guys that just blindly follow the sheep herders lead right over the cliff without knowing squat about what you are saying. Your always trying to deter someone else from doing what you don’t want for your self. What the F difference does it make to you or your business what someone else does. Bushy is a master of words and he sucks you and people like you right into believing any thing he says as the gospel he has been doing it well for many years.

Ask him about the politician he threw under the bus in Mo so he could get his name in the paper. The politician was actually trying to help until Bushy got involved. Ask him how many times he walked the halls in the State house and how much credit he claimed for doing nothing

The same can be said for YOU!

You are in OK and JB is in MO. What the hell is it to YOU what he and others choose to do for themselves?

What’s good for the goose, is good for the gander. Eat that cabbage!

Hows about showing me where I stated that you or anyone else should be part of the Buy back I have stated many times it is optional do you not understand what optional means. Its explained in the Webster dictionary. Every time the subject Buy back is mentioned your or your buddy Bushy are the first ones to make a negative post. How can I say it any plainer its none of your F business what others in this business decides for themselves how to operate their business

I personally hope NO ONE in SE Florida takes part in this program.

That will teach the establishment for sure. Go get em :slight_smile:

Seems as if this is a marketing tool that could be a boost to business at the beginning that after saturation in the market would increase likelihood of your being sued out of business as more clients stop thinking of us as government associates or authority figures and start thinking of us as targets.

Michael Larson writes:

Uh, no. I run calculations on every success tool InterNACHI provides members so that I’m 100% certain they are money makers for you. If I see they won’t make you money, I cancel the program before I even announce it. I would never advise any members to do anything that wasn’t outrageously profitable for them. But don’t take my word for it. Here are the formulas I used. You can enter your own conservative numbers to see that participating in InterNACHI’s Buy Back program will make you rich.

First, you have to answer these questions below. You will have to estimate the answers to many of them. We recommend that you give conservative answers. For example: if in question T you believe that offering the Buy Back Guarantee will not permit you to command a higher fee schedule, you should answer $0.00. Some questions you will be able to answer accurately. For example: question A asks how many inspections you perform a year.

Then plug the numbers into the formulas below to calculate the net financial effect of participating in InterNACHI’s Buy Back program.

A: How many inspections do you perform a year?
B: On average, what do you charge for a home inspection in dollars? For example, if you gross $100,000 last year and performed 250 inspections, your average charge was $100,000/250=$400.
C: How many consumer visits do you get at your home inspection website per year? If you don’t have good stats on your website, you might have to guestimate.
D: What percentage of those consumer visits does your website convert into scheduled inspections? For example: if you get 25 hits to your website a month and 5 inspections from your website, your website’s conversion rate is 20%.
E: Of the consumers that visit your website, but don’t convert into clients, what percentage do you think would have become clients had your website alerted them to the Buy Back Guarantee?
F: On average, how many calls from consumers inquiring about your inspection services do you get per week? For example: If you get about 10 calls a day and answer your phone 5 days a week, you get about 50 calls per week.
G: On average, what percentage of those incoming calls from consumers do you convert into scheduled inspections? For example: If you convert 1 out of 3 incoming calls into scheduled inspections, your conversion rate on the phone is 33%. If you convert 1 out of 2 incoming calls into scheduled inspections, your conversion rate on the phone is 50%.
H: Of the consumers that call and inquire about your inspection services, but don’t convert into scheduled inspections, what percentage do you think you would have been able to convert had you told them about the Buy Back Guarantee?
I: Average number of inspections referred by a real estate agent per year?
J: How many presentations to real estate offices to you perform a year?
K: On average, how many real estate agents are in the room when you do your presentation?
L: On average, what percentage of real estate agents that you do a presentation for are already agents that recommend you. We can’t count them as additional revenue sources.
M. Of the real estate agents that listen to your presentation and still never refer you, what percentage do you think you would have been able to convert to an agent that recommends you had you told them about the Buy Back Guarantee?
N: On average, what percentage of the inspections you perform come from the brochures/literature you have at real estate offices and elsewhere?
O: If your brochures/literature prominently featured the Buy Back Guarantee, what percentage do you think the inspections generated from those brochures/literature would increase by?
P: On average, what percentage of the inspections you perform come from consumers who see your inspection vehicle?
Q: If your inspection vehicle prominently featured the Buy Back Guarantee, what percentage do you think the inspections generated from your vehicle would increase by?
R. On average, what percentage of the inspections you perform come from past client referrals?
S: If your clients knew you offered the Buy Back Guarantee, what percentage do you think the inspections referred to you by past clients would increase by?
T: By offering the Buy Back Guarantee, how much do you think you can increase your average fee for a home inspection? Don’t subtract the $5 cost of participation yet, we’ll do that later. For example: if you charge $320 on average and you think you can command $335 dollars with the Buy Back Guarantee, your increase would be $15.

And now for some calculations:

(A X B) = your gross revenue.
C X (D/100) X B = your current revenue generated from website.
E/100 X (C X (D/100) X B = your additional revenue from Buy Back program being on your website.
F X 52 =number of incoming consumer inquiry calls you get per year.
(G/100) X F X 52 X B = your current revenue generated from incoming consumer calls.
(100-G)/100 = percent of incoming consumer inquiry calls that you aren’t converting.
((100-G)/100) X F X 52 X B = lost revenue of consumer inquiry calls that you aren’t converting.
(H/100) ) X ((100-G)/100) X F X 52 X B = your additional revenue from Buy Back program being used to convert consumers who call you.
(J X K) = number of agents that you present to per year.
(100-L)/100 = percent of agents that you present to that don’t currently recommend you.
(J X K) X ((100-L)/100) = number of agents you present to that don’t already recommend you.
(M/100) X (J X K) X ((100-L)/100) X I X B = your additional revenue from including Buy Back Guarantee in your real estate office presentations.
(N/100) X (A X B) = your current revenue being generated from your brochures/literature.
(O/100) X (N/100) X (AXB) = your additional revenue from Buy Back Guarantee being included on your brochures/literature.
(P/100) X (A X B) = your current revenue being generated from your inspection vehicle.
(Q/100) X (P/100) X (A X B) = your additional revenue from Buy Back Guarantee being include on your inspection vehicle.
(R/100) X (A X B) = your current revenue being generated from past client referrals.
(S/100) X (R/100) X (A X B) = your additional revenue from past clients who refer you only because of the Buy Back Guarantee.
T X A X B = your additional revenue from the ability to command higher fees on only the current inspections we are performing.

Now lets calculate the total number of additional inspections we can attribute to the Buy Back program. This is simply the additional revenue before the increase in fees divided by the average fee for an inspection, or:

{[E/100 X (C X (D/100) X B] + (H/100) ) X ((100-G)/100) X F X 52 X B] + (M/100) X (J X K) X ((100-L)/100) X I X B] + (O/100) X (N/100) X (AXB)] + (Q/100) X (P/100) X (A X B)] + (S/100) X (R/100) X (A X B)]}/B.

Multiply this by T to get the additional revenue from the increase in fees attributed to the Buy Back program, or:

{[E/100 X (C X (D/100) X B] + (H/100) ) X ((100-G)/100) X F X 52 X B] + (M/100) X (J X K) X ((100-L)/100) X I X B] + (O/100) X (N/100) X (AXB)] + (Q/100) X (P/100) X (A X B)] + (S/100) X (R/100) X (A X B)]}/B X T.

Now lets calculate the total additional revenue of participating in the Buy Back program. This is simply the additional revenue from the increase in inspections attributed to the Buy Back Guarantee being included on your website plus the additional revenue attributed to the Buy Back Guarantee being included in your phone-answering scripts, plus the additional revenue attributed to the Buy Back Guarantee being included in your real estate office presentations, plus the additional revenue attributed to the Buy Back Guarantee being included in your brochures/literature, plus the additional revenue attributed to the Buy Back Guarantee being displayed on your inspection vehicle, plus the additional revenue attributed to the Buy Back Guarantee being the main reason a past clients refer you, plus the additional revenue from the increase in fees attributed to the Buy Back program, or:

{[E/100 X (C X (D/100) X B] + (H/100) ) X ((100-G)/100) X F X 52 X B] + (M/100) X (J X K) X ((100-L)/100) X I X B] + (O/100) X (N/100) X (AXB)] + (Q/100) X (P/100) X (A X B)] + (S/100) X (R/100) X (A X B)]} + {[E/100 X (C X (D/100) X B] + (H/100) ) X ((100-G)/100) X F X 52 X B] + (M/100) X (J X K) X ((100-L)/100) X I X B] + (O/100) X (N/100) X (AXB)] + (Q/100) X (P/100) X (A X B)] + (S/100) X (R/100) X (A X B)]}/B X T.

Let’s call this U.

 But wait.  The program costs $5/inspection for every inspection you are currently performing plus every inspection the Buy Back program generates in addition to the number of inspections you are currently performing.  This amount must be calculated and subtracted from the total revenue increase.   

The total cost of the program is simply your (total revenue plus the additional revenue from the additional inspections attributed by the Buy Back program plus the additional revenue from the fee increase attributed to the Buy Back program) divided by your (average fee + price increase) X $5, or:

U / (B+T) X $5.

Let’s call this V.

Now we have to subtract V from U to get the total net financial effect of participating in InterNACHI’s Buy Back program.

U - V.

If U - V is a negative (in other words if V is greater than U), the cost exceeds the additional revenue and you should not participate in InterNACHI’s Buy Back program. If U - V is a positive number (in other words if U is greater than V), the additional revenue exceeds the cost and you should participate in InterNACHI’s Buy Back program.

www.nachi.org/buy-faq.htm

NOW THAT IS DOING THE MATH. :wink: Poor Mikey got it handed back to him love it

You ain’t quite the brightest bulb in the box are you?

Do you think that was written to me :roll:

What do you “think” is my opinion on the program. Think, think, think real hard so you do not look so dim again before you type…:smiley:

over active imagination is all that is. The program is far to new to have developed ANY meaningful data.
Garbage in= Garbage out.

When “hungry home inspectors” are taken in by “hungry vendors” … consumers get eaten.

Lots and lots of newbies coming into a hot market thinking their gimmicks are getting them business … while the gimmick masters feverishly work to get a slice of every inspection fee while the market is hot.

Ever hear of a gimmick that would not make you rich?

Anyway, Thornberries, Gromickos et al need to strike while the iron is hot. Lying to inspectors who, in turn, lie to their clients is not a long term plan … but it will make a few bucks until the next big gimmick takes its place.

I wonder if Nick will tell
us when he has collected $500,000 representing 100,000 inspections?

Do the math.

Guess you had no long term plan is that why you are no longer in the business you had to convert over to insurance scamming. What a piece of work you are the pot calling the kettle black

In all fairness to Nick … he is here to make money like everyone else and, as he explained in another thread very clearly, he prefers to advertise his gimmicks with language that has “marketing value”. He explained that, when choosing between “marketing value” and truth, he prefers “marketing value”.

In that sense, he has given members a clue before taking the bait and buying into his hyperbole. To me, that is fair.

It is up to the individual inspector as he shops for gimmicks to consider their affect on his overall business reputation — realizing that Nick has no intention or means to “buy back” every home inspected in the last 90 days and prudent home owners know better.

IMO, the most interesting conversations will be between home owners and inspectors when the home owner insists to the inspector “You told me when I hired you that you would buy back the entire house. Why won’t you buy back the water heater?” LOL

ah you mean like 80 percent of what you post

Yeah, the only thing pulled out of someone’s backside was Larson’s statement.

Typical.

After thoughtful consideration & running the idea by many of my faithful referring agents, I decided it is not for me.
Reason, I do not need the marketing to get any more inspections than what I have now.
Some felt it was a great idea, some thought it could be trouble.

For some of us here, it could work to help make the phone ring & I wish them luck.

Thinking to the future, I am anxious to see what happens after the first Buy-Back claim, although the chances of this are far out.
IMO, I think if conditions are met to honor the promise of buying back the home at full purchase price, INachi will buy the home.
If conditions are such, like the owner remodels & opens a wall filled with black mold, it will not be bought for it was a hidden area. I’m sure the S H I T will hit the fan & people will be pissed. Perhaps a lawsuit will ensue.

Time will tell, if Nick shares the info that a claim was rejected.
Whatever he shares, I’m sure it will be more transparent that our government is.

No I mean like 99% of your’s.

Wake up.