There is a great strategic business question that I’ve come to love: “What are your customers doing 5 minutes before they engage with you, and what are they doing 5 minutes after they engage with you?”….this post takes that question to the home inspection industry.
In today’s world of home inspections (due to standards of practice), most clients are left hanging after the home inspection. They are delivered a report with a bunch of findings but none of it is actionable.
To make the report actionable would require assigning costs to the items or assigning a home pro to do the work, neither of which are (generally/mostly) part of today’s inspection. So how can this be done better?
We’ve been working with Repair Pricer as we see them filling this important gap in the industry. Their product was initially developed for real estate agents however has become a USP for home inspectors. They provide impartial cost estimates for any and all items contained in the inspection report within 24 hours. This empowers the client (typically the buyer / buyer’s agent) to begin decision making and negotiation quickly and without hours of scrambling to get quotes (quotes that by the way can be challenged by the seller as they are seen as potentially biased).
Here’s some things that this addresses:
- The 3-6 days to get quotes goes down to 24 hours
- Time and hassle of calling, coordinating and meeting pros to get estimates
- No more abusing relationships with pros just to get quotes that in most cases don’t turn into job
- Impartial, 3rd party, cost estimates are less likely to be refuted by sellers leading to more delay
- The fundamental “stop leaving your customers with problems” but rather giving them solutions (a path forward)
This is a big deal for the inspection industry and it has the potential to be a bit of a game changer. We can often underestimate the implications of what happens after we finish “our task.” What does the receiver of our work product do next? What could we do to make their job easier? How would doing that impact both their business and mine? Learning about the next step in the process will uncover opportunity to provide more value. By providing value, there is more chance to win more (repeat) business from agents in your market.
The home inspection report is a technical product but it is important to remember that the receiver of it has to take the “data” and turn it into “actionable information” otherwise it has the potential to be of marginal use to them.
If you haven’t yet seen what Repair Pricer does, click here to see a quick video.
Next time you have a chance, ask you buyers and your agents what happens after you give them the inspection report…