3 Ways to Recession-Proof Your Home Inspection Career
Starting out in any new career can be intimidating. Starting a new career during an economic downturn? That’s no easy feat. A home inspection is a necessary and vital part of the home buying and selling process, and luckily for you, people will always buy and sell real estate regardless of what the economy is doing.
In the last two years alone, home inspection has seen trends that it has never seen before, such as people waiving inspections in order to have a leg up on other buyers. As interest rates increase on mortgages and banks are toughening their lending criteria, the market will likely shift back to requiring home inspections again as proof of a sound investment.
When the economy is on the brink of recession, as it may be now, it’s time to do things you’ve never done before in order to get results you’ve never had. If you want to recession-proof your home inspection business, here’s where to start.
- Diversify your home inspection offerings. If you’ve only done residential home inspections to date, it may be time to become certified in commercial inspections, for example. If you’re sticking to home inspection, become an expert in mold and radon. Learn how drones can improve your business. Now’s the time to bolster your skills so that when customers come knocking, you’re the one-stop expert for all their needs. The best time to learn something new is when it isn’t learned out of desperation. Master these skills before a recession in order to market and master them if the economy sinks.
- Learn from other home inspectors. A rising tide lifts all boats, meaning if you can join a community of home inspectors willing to help, teach, and coach and have been doing this for a long time, then you already have a leg up on the competition. There’s tremendous value in seeing things from a fresh perspective, but there’s also tremendous value in learning from others’ mistakes. Don’t be afraid to ask questions (during a live webinar, for example), ask for advice, or find a mentor who can help reassure you when business slows down.
- Take a crash course in marketing. Buying patterns change rapidly, especially when money is tight. If you want to get in front of a new audience, learn how to use TikTok, for example. Don’t be afraid to showcase who you are as a person. You’re asking people to allow you into their homes, so being authentic and transparent can only help your business. Showcase findings on Instagram, join Facebook communities and highlight your skills on LinkedIn. There’s no shame in self-promotion, especially if you have the chops to back it up.
If you haven’t taken the first step to become a home inspector, now is a perfect time. The cost of entry is low, and the reward is high. After you take a home inspection course through ICA, you have lifetime access to all of your course material, which means you have lifetime support while in the field. On top of that, we give you free reporting software and marketing support to help you grow your business, regardless of what the economy is doing.
If you’re interested in taking the first step towards your new career, reach out, we’d love to help you get started.