What are your fees for multimillion dollar properties? (Need help with pricing my services)

So you speed through a house with mud on your shoes and don’t care if you don’t miss anything because your insurance will cover it?

Do you run a red light because if you know if you hit another car, your insurance will pay for it?

Of course not, you take steps to limit your need to ever call your insurance company by reducing or offsetting your liability as much as you reasonably can.

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Hay Ian, come back on down to earth buddy…

If it takes you twice as long to do a house twice as big you probably don’t have too much to offer anyone trying to determine how to realistically price a big/or expensive house so they can be competitive and still make a bunch of money bidding against Inspectors like you who just multiply everything by square footage.

While I’m at it, others mentioned the square foot pricing method. Do inspectors inspect square foots or by building components? The only cost increase of more square footage is the time it takes to walk across that sq footage and the number of stairs you have to climb. As I mentioned above, there are things that are a cost to you every inspection regardless of the s.f. involved. Your either not charging for these things, or your charging twice for them. Either way, it doesn’t help you to know how much your can expect to profit on the job and if your wrong, the amount of money you missed out on because you were off on your proposal.

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When I am inspecting larger more expensive properties, I like to speak to the client myself. A call center schedules most of my inspections. I want a feel for the client. Are they going to be there? Are they high maintenance. How long will the inspection take? I want to clear between $100 and $150 per hour per man. If the property will take 2 guys 10 hours plus 3 to 4 hours finishing the report, I would be at $2500 to $3000 dollars for the inspection.

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The only Inspection I ever spent 10 hrs on with two other guys was an entire shopping center with Dale Duffy in Sun City Az. And it sure wasn’t a $3k inspection.

I agree with you about communication with your client. That is critical in my book. :+1:

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And this is pretty much why this forum doesn’t have the traffic is used to.

Rather than offer advice, let’s just attack the advice-givers and discredit them.

My team and I inspect plenty of big homes, luxury homes, and high-end mansions. If you want to be cheap Charlie and not charge extra because you think it’s not fair to get paid extra for doing extra work, well, that’s your progressive. But seems kind of backward to do more work and not get paid more. The agent is getting paid more commission. The country is collecting more in property taxes. But god forbid the home inspector charge a few extra bucks!!

“If Billy jumped off the Oakland Bridge, then you would also…?”

<<Couldn’t help myself>> :rofl: :joy: :rofl:

Good luck getting a standard answer.

Here is my approach. Standard homes in a middle class market have a market rate the buyers can absorb. They will reject super high rates regardless of your product.

With complex high end homes, they are looking for someone who can deliver and are willing to pay for quality work.

In this situation, you become a salesman. You qualify yourself, justify your rate and then deliver. I never hesitate to charge $1,000 or more. I tell them their home will be an exclusive inspection for that day, I tell them it may take 3-5 hours or more if needed. Then I send over a sample report of a similar high end property. I almost always get the job.

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End of the day - the OP needs to figure out what to charge in his market based on his competition. I does not matter what the Canadian inspectors or the inspectors from Utah charge for their homes, what matters is what his market can carry. Also, the thing people with money hate most in the world is feeling like they get charged more for the same job because they have money, that’s the quickest way to get a bad reputation.

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If your talking to me: What are your fees for multimillion dollar properties? (Need help with pricing my services) - #5 by dandersen

I’m not here to discredit you, I’m giving an opinion. If you don’t like that opinion, neither of us are not going to agree so why are wanting to talk about it further?