How the Buyer’s Market will Support Your Home Inspection Career
November 22, 2017 |
In real estate, a buyer’s market is as simple as a market that is beneficial to the buyer. Prices are relatively low because supply exceeds demand. So, if you’re interested in purchasing a home, and the state of the market is favorable for buyers, you’ll likely be able to pick and choose what’s right for you at a cost that works well, too.
Sounds like a win for buyers, but it’s also a great situation for home inspectors. Most, if not all, home buyers get an inspection upon having their offers accepted. And today, more and more sellers choose to have an inspection prior to listing their homes.
It is estimated that there will be 15 million inspections performed in the next five years. That equals a 400% growth rate, and it is likely that the industry will need more home inspectors and inspection firms to meet that demand.
As a home inspector, you’ll want to make sure you’re ready when the housing market shifts to ensure your business will boom right along with the market. According to Zillow experts, it’s predicted the shift will happen by 2019. Here are 10 things you can do right now to prepare yourself:
- Devise or revisit your business and marketing plan.
- Form business partnerships with local professionals and peers.
- Update your website.
- Get active on social media.
- Put yourself on the map! Claim your local listing on Google Maps.
- Set yourself apart from the competition in the market.
- Enhance your existing realtor relationships and build new ones.
- Join your local home inspection and real estate trade associations to take advantage of networking opportunities.
- Try out different lead methods to see what works best for you.
- Relax! When the market is booming, you’ll be working long hours. Take advantage of the slow period now to ensure you’re ready to strike while the iron is hot.