If you’re reading this, chances are you’ve thought about becoming a home inspector. You may have even seen the ads that say he can earn hundreds of dollars a day as a home inspector. Home inspection schools post many of these ads. They paint an optimistic picture about the profession and how easy it will be for you to make a ton of money practically overnight. I’m a Professional Real Estate Inspector and I’m going to tell you what home inspection schools don’t want you to know about this profession!
What Home Inspection Schools Won’t Tell You
What these schools and the Home Inspection courses sold by various companies will not tell you is how difficult it is to be successful in this business.
The national school I attended for my inspector education made it seem so easy to get started. They explained how easy it would be to start doing 1 home inspection a day with little to no effort.
I have many prospective home inspectors who email me and call our office to inquire about the business.
This business is like any other. It takes dedication, solid finances, and time to be successful.
Think you’re going to start with no money up front?
Many schools don’t tell you about the liability side of the home inspection industry. The home inspection industry is a very high responsibility profession. Every home you inspect is a potential claim. It doesn’t matter if you are the most thorough inspector in your area. Inspectors are sued for things the owners thought they should have found whether or not you could see the defect. There is an old saying in this business. “It’s not IF they sue you, but WHEN they sue you.”
If you can’t live under this pressure, you’d better look elsewhere.
All it takes is a ladder and a truck… right?
Well, here’s more bad news. Like most legitimate businesses, it takes a little more than that.
A new inspector will need around $5000 worth of tools just to get started.
Then there is the issue of insurance. Errors and omissions insurance will cost a new inspector (if he can get it at all) $3,500 to $5,000 per year. Then there is general liability insurance which will cost you between $400 and $1,500 per year.
In some states, you can’t even get started without this insurance.
Do you have a fund for rainy days? I hope so, brother, because it will rain on your parade!
Like any new business, the first year will be tough. It can take anywhere from 6 months to 2 years to get to the point where you are generating a steady income.
Many inspectors got into this business doing home inspections on the side or part time. That is the approach I would recommend to any new inspector. Don’t quit your day job yet!
What about real estate agents?
Schools make it look like there’s an agent behind every tree waiting for you. Chances are they already have their favorite inspector and are unlikely to use a new inspector because they don’t know what to expect from you. It will take many months to a year or more before you get regular referrals from real estate agents. Don’t count on them to feed your family when you’re just starting out.
This industry can be very rewarding in many ways. However, it’s likely to leave a bitter taste in your mouth if you walk in thinking it’s easy to get started. I have seen many good people go bankrupt trying to get started in this business because home inspection schools did not prepare them for what they were about to face in the real world.
