Risk management is part of any good business strategy, and it can drive more customers in your direction. There’s risk involved with selling coffee, and there’s risk in being a physician.
But while not every business has many avenues for managing and even reversing risk, home inspectors have a great opportunity to assume all risk. That leaves potential customers with virtually nothing to lose.
Hiring an Inspector is Inherently Risky
Most people don’t make a habit of buying and selling houses. That means their interaction with home inspectors is probably minimal, at best. So when it comes time to hire an inspector, there’s not much to go on. But unfortunately, a lot rides on the inspection. A deal could even fall apart. So customers naturally worry about hiring the right one.
Some buyers might get a recommendation from a real estate agent, but many do their own hiring. And because so little is known about inspections, they might base the decision on something that has little to do with the work at hand. Your job is to sway them in your direction by removing any risk about an inspection gone bad.
Risk Removal Doesn’t Have to be Complicated
The main risk is that a customer will be out the inspector’s fee and still not have a home to show for it. If an inspection reveals a lot of problems, the buyers might get spooked and the deal could fall through. You can reverse that risk, says Alan Carson, of Dunlop and Associated home inspectors, at Working RE magazine. Simply give them the option of not paying if they’re not happy.
The risk is then turned on you, since they might not pay. That sounds like a crazy plan, but Carson says customers who won’t pay are very few, indeed. And the peace of mind that it brings can make all the difference in the world to a nervous home buyer who doesn’t really know what to expect.
You Can Use the Same Tactics in Other Areas of Business
Whether or not a customer pays is only one risky area of home inspections. But Carson says there are 4 basic steps that you can take to mitigate the risk with any aspect of your business.
- Identify the risk in the situation, no matter what it is.
- Devise a list of possible ways to minimize the risk. Get creative!
- Determine how items in that list could backfire on you.
- Find a happy medium between risk assigned to someone else and risk taken upon yourself.
These steps can apply to everything from convincing a real estate agent to nudge business your direction (If that’s legal where you work) to attracting great inspectors to hire onto your team. Any place there’s danger for someone else, you probably have a way to lessen or remove it altogether.
Inspecting houses is only part of what you do. There’s a lot that goes into growing a business. And as much as you might dislike this phrase, sometimes you really do have to think outside the box. Some home inspectors don’t have the courage to take on someone else’s risk just to get a job. But if your inspections are top-notch, the dangers for you are minimal.
ICA School helps you grow your business with tried and true methods. But once in a while, you have to get creative and go where others aren’t comfortable going. That’s why there’s a complete marketing component to our online training course that can get you off on the right foot.
When you’re ready to make your career move into inspections, enroll now and earn your certification on your own timeframe.