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The. Marketing Plan. Instructed by Bill Erickson. Day 2: A) Class Presentations B) Get Started Binder 1. Marketing Implementation 2. Web resources 3. E-mail marketing resources 4. To do lists. Day 1:

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Instructed by Bill Erickson

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Instructed by bill erickson

The

Marketing Plan

Instructed by Bill Erickson


Marketing agenda

  • Day 2:

  • A) ClassPresentations

  • B) Get Started Binder

  • 1. Marketing

  • Implementation

  • 2. Web resources

  • 3. E-mail marketing

  • resources

  • 4. To do lists

  • Day 1:

  • A) Marketing Plan Presentation

  • 1. Services/Customers/

  • Promotions

  • B) Selling 101

  • 1.One-on-one selling skills

  • 2. Open House selling

  • role play

  • C) Referral Source Marketing

  • 1. Promotions

  • 2. Networking/marketing to

  • with agents

Marketing Agenda


A solid foundation

A Solid Foundation

Your Marketing Plan should include the following six basic steps:

1)Your services

2)Customer segments for the services you perform

3)Competitor analysis

4)Sales/promotion/advertising methods

5)Set goals

6)Evaluate your progress month by month and adjust your marketing plan


Why have a marketing plan

Why Have a Marketing Plan?

  • Learn about your customers and referral sources

  • Learn about your competitors

  • Organizes your thoughts and actions

  • Leads to improvements in your services


Competitor analysis

Competitor Analysis

Your Service

Features/Benefits

Your Competitors’

Features/Benefits

  • Computerized reporting/ Time saved/ Ease of use

  • Training/ Confidence/Reduced liability

  • State of the art equipment/Thorough inspection

  • Insured/ Confidence/Peace of mind

  • Availability/ Convenience/ Simplicity

  • Re-inspection service/ Peace of mind/ Value

  • Moderate pricing/ Value

Their reputation

Strengths/weaknesses

____________

____________

____________

____________

____________


Well rounded diversified business

“Well-rounded” Diversified Business

  • More stable business

  • More growth for your business

  • More valuable business

Provide multiple services to multiple market segments:Residential, commercial, buyers, sellers, banks, etc.


Home buyer inspections

  • As primary residence

  • Second home

  • Investor (rental or to flip or resell)

  • Auction home. Multiple potential buyers/inspection clients

Home Buyer Inspections


Home seller inspections

Home Seller Inspections

  • “Pre-listing Inspections”

    • Sells homes faster

    • Brings top dollar


Prelisting inspections

Prelisting Inspections

  • A listing/marketing tool for agents

  • Avoids last minute renegotiations

  • More popular in a buyer’s market when houses are harder to sell

  • Agents traditionally recommend for older homes or for sellers needing to sell quickly

  • Promote to agents


Draw inspections

  • (Progress/Percentage completion)

    • Residential & Commercial

    • For Banks

    • National draw inspection companies

  • Report forms available on the Web library or provided by the bank or company

  • Market to banks and sign up with national companies (NPI List)

Draw Inspections


New construction

New Construction

Final and/or Phase Inspections

(Not percentage completion but quality)

For new home buyers (and occasionally for builders/agents)

Market to agents/Web advertising


Builder s warranty inspections

  • “11th month” inspections

  • For new home owners. All components/workmanship

  • Regular home inspection, regular NPI report. (Ask homeowner for a list of concerns)

  • Promote through direct mail and referrals. Need list or door hangers

Builder’s Warranty Inspections


Builder s warranty inspections1

  • NPI’s Centralized Direct Mail Program

  • Mailed from our mail shop in Omaha

  • Pre-printed door hangers for you to distribute.

  • Neighborhood referrals from your recent customers. Leave them brochures, coupons or cards to pass out. Offer a $15 gift card referral reward per customer they refer.

  • Optional postcards

Builder’s Warranty Inspections


Builder s warranty mailings

Builder’s Warranty Mailings

Direct Mail Package:

Envelope-double window

Personalized letter

Builder Warranty brochure

Testimonials

$25 off coupon


Builder s warranty mailings1

Builder’s Warranty Mailings

Builder’s Warranty Direct Mail Result

(Customary to discount the inspection fee with a $25 coupon.)

Average Results (1 – 3%) based on $250 fee

If mail 200 per month, est. 2 - 6 inspections

Total revenue$ 500 to 1,500

Total expense $.70 ea.-140 -140

Total profit$ 360 to $1,360


Commercial property inspections

Commercial Property Inspections

Most common: multi-family dwellings for investors (Apt. bldg’s., duplexes, etc.)

Alsosmall office buildings, warehouses, light industrial

For Investors (pre-offer or pre-closing) - your client

Commonly required or recommended by lenders (Pre-closing). Local and national clients

Also for commercial clients (corporations) who own or lease. Pre-occupancy and exit inspections. Serve either the owner or the tenant


Commercial property inspections1

Commercial Property Inspections

Marketing Your Commercial Property

Inspection Service

Promote through Referral Marketing to:

Banks

Residential agents (for clients purchasing investment property—e.g. multi-family) and advertising (internet)

Commercial real estate brokers

Real estate attorneys

Advertising (internet and yellow pages)

* Many commercial clients find NPI /GPI inspectors on the Web


Your services

Your Services

Employee Relocation Inspections

Most Relo companies will require you to submit the ERC report format

Usually inspecting homes at point of origin, not destination

Estimate repair costs used to determine home value

Promote by contacting the Relo companies on the NPI/GPI Field Service list

Most companies pay $185-200 to start plus add-ons


Your services1

Your Services

Field Services Industry Inspections

Residential

Commercial

Field Service Companies act as a clearinghouse for inspections and related field services for insurance companies and mortgage servicing companies, lenders/banks and investors.

Promote by contacting the companies on the NPI/GPI Field Service list in the Web Library.


Your services2

  • Examples of Field Services Ordered by

  • National Field Service Organizations

Your Services

  • Quality Control inspections

  • Collateral inspections (usually equipment)

  • Personal Interviews

  • Disaster inspections

  • Mobile Notary Service

  • Merchant Site Credit Card

  • Authorization

  • Various Property Assessment/

  • Condition Reports

  • Insurance Loss Draft inspections

  • Insurance Risk Assessment

  • inspections

  • Occupancy Verification

  • Mobile Home inspections

  • REO Occupancy Status

  • inspections


Your services3

  • Property Preservation Tasks:

    • Window replacement board up

    • Lock change

    • Lawn service

    • Debris removal

    • Pool covering

    • Water pumping

    • Bids/Estimates

    • Winterization

Your Services


Npi gpi field service list

NPI/GPI Field Service List

* List Can Be Found in Library


Hud inspections

HUD Inspections

HUD Multi-family Dwelling “REAC/PASS” Inspections

Need to become certified by HUD

Use handheld computer with HUD software

Walk-through apartment inspections

One Week HUD training in Washington, D.C

Visit www.hud.gov


Federal housing administration

Federal Housing Administration

What You Should Know

About FHA

1. FHA is part of HUD. There is no “FHA general home inspection” required on a normal home sale, only an FHA appraisal. You may perform a normal home inspection using the NPI form. FHA can finance the cost of the inspection in the mortgage.

2. Refer to the FHA form, “For Your Protection Get AnInspection”. Because FHA appraisers do “flag” certain deficiencies of the property, some people may think it is an inspection, but it is not a thorough inspection nor to ASHI standards.


Federal housing administration1

What You Should Know

About FHA, cont’d

Federal Housing Administration

3.Lenders must have HUD form, OMB No. 2502-0189 “Compliance Inspection Report” completed to verify that the deficiencies have been corrected. A HUD Approved FeeInspectoris required to sign this form to assure repairs are completed. Under the new rules, it can be signed after the loan closes.

Exceptions: There are some inspections on HUD homes, rural properties, and manufactured homes where FHA will order an inspection.(See NPI list for SPI’s (Special Property Inspections and also Mobile home foundation inspections!)


Hud 203 k

HUD 203(k)

HUD 203(k) Program Consultant:

Property rehab/loan program requiring a HUD 203(k)consultant/inspector to assist with monitoring the construction including draw inspections where repairs are over $35,000.

To become a 203(k) consultant you need training (seminar) and a minimum of 3 year construction or inspection related experience.


Expert witness

Expert Witness

Expert Witness

Your expertise as a home inspector:

To attorneys, for law suits, arbitration and mediation services. Charge a fee for your expert opinion. (Over phone, in court, etc.)

Example:

A homeowner sues their home builder for repairs for poor workmanship. Their attorney needs your expert opinion or testimony.

.


Common add on services

Common Add On Services

These vary by geographic area, licensing, local protocol, etc.

Radon Monitoring

Well potability test/Sampling

Septic System inspection

Pool/Spa

Termite (WDI or WDO)


Other specialized services

Other Specialized Services

Infrared camera - “thermography” Scan for moisture, insulation, electrical problems. Add to home and commercial inspection services. Extra $50 common on home inspection. Also, simply able to book more because you employ this technology!

Chimney, fireplace and flue inspections (In Canada - WETT). With or without fiber optics camera. Also, use camera for sewer line inspections or septic inspections.

Wind storm certification inspections FL and Southeast—hurricanes.

Energy conservation inspections -Audits on existing homes. Also, Energy Star rater training for new homes.

Home Watch Service - Resort/second home markets primarily.

Check/inspect periodically, etc.

(See NPI/GPI list of inspection services and approximate fees)


Promoting your business

Promoting Your Business

  • Describe Your Target Markets/ Customer Segments

  • Define your target markets in terms of customer segments:

    • Home Buyers

    • Home Sellers

    • Government Entities

    • Homebuilders

    • National Companies


Promoting your business1

Promoting Your Business

Promotional Methods

  • Referral source marketing—one on one

  • Past customer marketing—newsletters

  • Networking via affiliate group meetings

  • Group presentations to referral sources, such as agents and end users/groups

  • Education sessions for real estate professionals, agents and lenders

  • Miscellaneous sales presentations


Referral marketing

Referral Marketing

Your Strategy is to have people of influence:

1) Refer their customers to you, or

2) Call you directly to schedule an inspection on behalf of their customer

(Referred to as “Centers of influence”)


Referral marketing1

Referral Marketing

Referral Marketing Keys:

1. Build relationships

2. Market by networking

*Read networking books (see list of suggested books in text behind promotions power point in this manual)


Referral marketing2

Referral Marketing

Establish goals/objectives for each type

of referral source:

Example:

Objectives: 12 months:

8-10 agents

2 mortgage lenders

2 banks

4 national companies


Referral marketing3

Referral Marketing

Develop objectives and tactics for

each target group:

Agents

Mortgage Lenders

Past Customers

Real Estate Attorneys

Commercial lenders at Banks

(*See your Web Library for each target market as well as brochures)


Referral marketing4

Referral Marketing

Networking is best

Before contacting referral sources,

identify contacts who can give you a

“warm” introduction or permission to use

their name (Make a list)

Obtaining a warm intro to a referral source is

always preferred over a cold call


Referral marketing5

Referral Marketing

Referral marketing to:

Agents (Realtors)

Agent Facts:

1) Part of the formal job description of an agent is “arranging” or “coordinating” inspections on behalf of their client, the home buyer. They can’t do their job without good inspectors!

2) Not all agents are equal. Be selective in the agents you choose to market. Target the top 50%


Referral marketing6

Referral Marketing

Referral marketing to:

Agents (Realtors)

Sell to their needs (See NPI’s Selling 101)

Points of Differentiation/Advantage

Insured/Protects agents

High tech/Great report

Free 6 Mo. Ltd. Warranty

National company for training/Support

Additional training/Credentials


Instructed by bill erickson

Referral Marketing

Referral Marketing to:

Agents (Realtors)

There are several “attitudes” most agents look

for in a good inspector:

- I put findings in perspective for the home’s age,

neighborhood, etc.

- I am a professional, and know how to discuss my

concerns without alarming the home buyer. I explain that

all deficiencies can be remedied.

- My service is convenient - quick on-site reports with

summary page of findings - easy to read.

- I am responsive to calls before and after the inspection.


Instructed by bill erickson

Education for Agents

NPI Power Point Courses

1) “Home Inspection 101” for Real Estate Professionals”

Great for “Lunch & Learn” sessions and in some states CEU credits. NPI is applying in many states.

2) Other Course: Exteriors, Environmental, Old Homes, Moisture, etc.

Personally sell the office or sales manager on booking a class to be held at their realty office.


Instructed by bill erickson

Referral Marketing

Mortgage Lenders

While Mortgage lenders don’t play the same pivotal role as agents in arranging inspections, they can refer some customers to you.

Best to promote to lenders by networking to your agents, or at network meetings (e.g. BNI, Letip, Chamber).


Instructed by bill erickson

Referral Marketing

Your Past Customers

Repeat business on their next home

Ask them to refer their friends and family

Organize contacts in “Outlook Contact Manager”


Real estate attorneys look for their specialty listings mail intro best to meet by networking

Referral Marketing

Real Estate Attorneys

Look for their specialty listings, mail intro

Best to meet by networking


Instructed by bill erickson

Referral Marketing

Commercial lenders at Banks

1) Draw inspections on new home construction

2) Commercial mortgages

3) REOs (Real Estate Owned) bank foreclosures. Inspections and property preservation services.


Internet your web site at www npiweb com inspector npi promotes through seo techniques and google

Advertising to Consumers

Internet:

Your Web site at

www.npiweb.com/inspector

NPI promotes through SEO techniques and Google


Instructed by bill erickson

Advertising to Consumers

Promote your business online

Google local

providers (Listed above regular search results)

Yahoo Local (top of regular search results)

MSN Local

***FREE sign up with the above. See your back folder in this manual for instructions on signing up with directories.


Instructed by bill erickson

Online Directories

1) www.homeinspections-usa.com(largest and most effective) $250/yr. (1st yr. $50-Discount with marketingcode “NPI”)

2) Inspector directory:www.inspectopia.com

3) See the NPI/GPI list of various other online directories such as superpages, etc.

3) AOL and Yahoo free yellow pages. You must submit.


Instructed by bill erickson

Advertising on Internet

  • Ads on Google, Yahoo, MSN (PPC Pay per click).

  • Keyword driven -”Home, commercial Inspections, radon testing, etc.”

  • Drive visitors to your NPI Web site

  • Target your local area and those searching for inspectors in your area from out of area

  • NPI Marketing Dept. can help set up your campaigns


Instructed by bill erickson

Advertising to Consumers

Recommended Print Publications:

1. Yellow page directories

2. FSBO publications

3. Realtor Association Newsletters (targeted at agents)

IMPORTANT - MANDATORY!!!!ALL OF YOUR PRINT ADS/FLIERS/COUPONS/E-BROCHURES AND ANY OTHER PRINTED MATERIALS DISTRIBUTED MUST INCLUDE THE PHRASE:

“INDEPENDENTLY OWNED AND OPERATED”


Instructed by bill erickson

Advertising to Consumers

Tip:

Consumers typically only respond to inspector’s ads after they have found a home and realize they need an inspector, not when they are searching for a home.

NOTE:Be cautious of other “home for sale” publications as traditionally they haven’t produced business. Also avoid newspaper ads.

However, if you run an ad, be sure to include a $25 or $50 coupon to compel the consumer to take action!


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