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As the New Year begins, prognosticators are doing their best to get a handle on where the real estate market will end up in 2008. Yet the fact remains that millions of homes will be bought and sold regardless of where the market ends up. When you become a home inspector, you'll be part of a profession that simply doesn't stop during a market slowdown.
For certified home inspectors who own their own inspection businesses, knowledge of sound business practices are useful no matter what the market is doing. And graduates of accredited home inspection schools should expect their courses to include information on starting an inspection business.
In the November/December 2007 issue of The NAHI Forum, Rick Bunzel of Pacific Crest Inspection in Anacortes, Wash., outlined 10 ways that a home inspector can succeed when the real estate market is sluggish.
Mr. Bunzel's tips are an excellent resource for both veteran business owners, as well as recent graduates of home inspector training. The following is a summary of his business advice:
1.) The Market Doesn't Stop - Beware of negative media stories. Despite slowdowns, buyers are still making offers on homes.
2.) Business Plan - Devise a business plan with a marketing component. Consult this plan as you move forward
3.) Time Management - Block out your time. Deal with certain aspects of the business at certain times each day.
4.) The Pitch - Develop a 90-second pitch that will sell realtors on your home inspection jobs.
5.) Rise Above the Pack - Market slowdowns make good home inspectors look even better. Home inspectors with poor training and even poorer skills won't last long.
6.) Know the Numbers - Hire a good accountant and stay out of the red!
7.) Optimism - Successful salespeople and businessmen stay clear of negative people.
8.) Get Mentored - Find a successful home inspector or realtor and pick their brain. Share your business plan with them; get professional feedback.
9.) Work/Life Balance - Schedule time for your family and friends. Slowdowns are an opportunity to have more time with loved ones.
10.) The Comback - The market will pick up; be ready!
Becoming a home inspector means that you'll have to be both a skilled certified home inspector and a competent business owner, but not to worry, an accredited home inspection course will prepare you to succeed.
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