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:
Instructed by Bill Erickson
Your Marketing Plan should include the following six basic steps:
2)Customer segments for the services you perform
6)Evaluate your progress month by month and adjust your marketing plan
Provide multiple services to multiple market segments:Residential, commercial, buyers, sellers, banks, etc.
Final and/or Phase Inspections
(Not percentage completion but quality)
For new home buyers (and occasionally for builders/agents)
Market to agents/Web advertising
Direct Mail Package:
Builder Warranty brochure
$25 off coupon
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
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
Marketing Your Commercial Property
Promote through Referral Marketing to:
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
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
Field Services Industry Inspections
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.
* List Can Be Found in Library
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
What You Should Know
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.
About FHA, cont’d
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) 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.
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.)
A homeowner sues their home builder for repairs for poor workmanship. Their attorney needs your expert opinion or testimony.
These vary by geographic area, licensing, local protocol, etc.
Well potability test/Sampling
Septic System inspection
Termite (WDI or WDO)
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)
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 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)
Establish goals/objectives for each type
of referral source:
Objectives: 12 months:
2 mortgage lenders
4 national companies
Develop objectives and tactics for
each target group:
Real Estate Attorneys
Commercial lenders at Banks
(*See your Web Library for each target market as well as brochures)
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 marketing to:
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 marketing to:
Sell to their needs (See NPI’s Selling 101)
Points of Differentiation/Advantage
High tech/Great report
Free 6 Mo. Ltd. Warranty
National company for training/Support
Referral Marketing to:
There are several “attitudes” most agents look
for in a good inspector:
- I put findings in perspective for the home’s age,
- 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.
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.
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).
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
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.
Your Web site at
NPI promotes through SEO techniques and Google
Promote your business online
providers (Listed above regular search results)
Yahoo Local (top of regular search results)
***FREE sign up with the above. See your back folder in this manual for instructions on signing up with 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.
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”
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!