Start A Real Estate Inspections Business - Business Ideas

Updated: September 15th, 2022
Start A Real Estate Inspections Business

Please note that the data provided in this article are estimates and may vary depending on various factors, and should not be considered as perfect or definitive.

A thorough home inspection is a critical step in purchasing a home. A proper home inspection could uncover potentially life-threatening problems like faulty wiring, mold, poor plumbing, and other issues that can cause significant loss.

Thus, homebuyers hire certified architects to help them determine if the structure complies with the building code requirements. The Home inspectors inspect to ensure the property meets the zoning bylaws, residents' health and safety, and building standards. Start a property inspection business that is state-certified and follows industry practices to ensure the quality of your work.

Starting a real estate inspections business requires a great deal of effort, dedication, and most importantly passion.

If you're interested in how to sell real estate inspections, or selling real estate inspections online, you can use this page as a guide for everything you'll need to know.

Key Stats

market size
$8.01B
starting costs
$18K
gross margin
90%
avg product price
$338
time to build
330 days
growth
Email marketing
business model
Subscriptions
time investment
Full time

Startup Costs

Min Startup Costs Max Startup Costs

Employee & Freelancer Expenses

$151

$252

Website Costs

$223

$7,015

Business Formation Fees

$600

$4,700

Vehicle Expenses

$0

$10,000

Retail Business Expenses

$1,250

$6,650

Advertising & Marketing Costs

$75

$3,986

Software Expenses

$162

$2,720

Office Space Expenses

$0

$100

Specific Industry Expenses

$0

$500

Total Startup Costs

$2,461

$35,923

Successful Businesses

Business URL Rank

Redfin

redfin.com

589

InterNACHI®

nachi.org

51,389

InspectRealEstate

inspectrealestate.com.au

76,423

Home Inspector

homeinspector.org

366,879

Inspection Certification Associates

icaschool.com

386,322

Arizona Home Inspectors

azashi.org

477,949

HappyCo

happyco.com

557,572

WIN Home Inspectors

wini.com

577,760

Elite Inspections

eliteinspections.com

954,528

The HomeTeam Inspection Service, Inc.

hometeam.com

982,737

Working RE Magazine

workingre.com

987,278

Pros & Cons

Pros Description

Little startup costs required

The cost to start a real estate inspections business costs significantly less money than most businesses, ranging anywhere from 62 to 35,923.

Rewarding work

Starting a real estate inspections business can be really rewarding work. After all, you are solving an immediate issue for your customer and you're working on something you truly care about.

High customer retention rates

Once a customer invests in your product, they've invested their time and energy to utilize your product/service which is highly valuable to them. Typically, your product or service becomes indispensable to your customer.

Pick & choose the clients you work with

Real Estate Inspections Businesses have the ability to choose the clients they work with. You have the freedom to work with only a few loyal clients or with hundreds of clients!

Control of workload

With starting a real estate inspections business, you have the unique ability to choose how little or how much you want to work. You also have the freedom to decide which projects you want to work on, and can turn down the ones that do not interest you.

Gain exposure and experience

This career allows you to gain experience working for multiple different businesses - which will benefit your resume and also keep things interesting for you!

Cons Description

Motivation of employees

If you plan to have a sales/content team on board, finding creative ways to motivate them can be a challenge. It's important that you're able to offer great incentives and a good work environment for your employees.

Longer Sales Process

A real estate inspections business can be a big time and money investment for your customer, so it's important you plan and predict a longer conversion funnel and stay in communication with potential customers.

Work can be inconsistent

As a real estate inspections business, the amount of work assigned to you and schedule tends to be more inconsistent, which may make your income less stable. It's important to set boundaries and budget accordingly based on the amount of work you plan to have.

Lack of benefits

With a real estate inspections business, you are typically self-employed and responsible for finding your own insurance, which can be quite costly and time-consuming.

Taxes

As a real estate inspections business, you typically pay self-employment taxes which can be quite high. It's important to understand what you will be paying in taxes each year so you can determine if the work you're taking on is worth it.

No safety net

Typically, as a real estate inspections business, you do not receive a consistent pay-check and instead earn money based on your transactions each month. During the slow periods, you typically take away less since the job is based on commission. It's important to budget accordingly for the slow times.

Marketing Ideas

  • 1

    Affiliate Program

    Affiliate marketing is a great way to bring in a new revenue stream, especially when you don't sell products or services.

    Simply put, an affiliate program is an agreement where a business pays another business or influencer ("the affiliate") a commission for sending traffic and/or sales their way.

    The affiliate typically gets a unique link where clicks and conversions can be tracked.

    Learn more about affiliate program ➜

  • 2

    Direct Sales

    Direct sales strategy implies a direct contact between a seller and a consumer without the involvement of any third party. Direct selling is popular in sectors where sellers communicate with their clientele personally. The sales technique occurs at non-store locations which include at home, work, or online.

    For direct selling to succeed, hire a few (or many) salespeople to support the sales conversion process. It's critical that you assign them specific roles and responsibilities to nurture the client and provide excellent support.

    Learn more about direct sales ➜

  • 3

    Word of mouth

    Word of mouth is when a consumers reflects their interest in a company’s product or service in their daily dialogues.

    Therefore, word of mouth advertising is essentially a free advertising triggered by the customers experience.

    According to Nielsen, 92% of people trust recommendations from friends and family.

    Therefore, in today’s hyper-connected world, a single recommendation through a word of mouth can have a huge impact to your business.

    Learn more about word of mouth ➜