Since the late 2000s, the economy has suffered, and many are still feeling the effects. Some faced complete financial ruin. After the Great Recession, many financial systems froze. The stock market, employment, real estate and many other markets suffered, and wage growth continues to be slow.
Some inspectors are struggling to stay in business, but many are prospering. How? By diversifying—offering related services such as commercial inspections, expert witness testimony and by testing for radon, lead-based paint, septic system defects and indoor air quality.
In short, forward-thinking home inspectors are diversifying by adding to their current home inspection services. Business gurus tell us that having “all your eggs in one basket” is not a wise choice for business comfort or longevity. One “missing” service for home inspectors has been inspecting for home accessibility and safety. And, as the size of the older population increases, society is experiencing what some call the “silver tsunami.” The trend for this group is to live in their homes for as long as possible, regardless of their needs or age.
Smart Diversification: Accessibility and Safety Inspections
Providing home inspections that focus on accessibility and safety is a smart way to diversify your business. Through certified training offered by the Living In Place Institute and supported by the American Society of Home Inspectors (ASHI), home inspectors now can help their clients understand what changes are needed in their homes that will allow them to live comfortably and avoid injuries at home. Because inspectors are already trusted advisors of their past clients, by providing these new additional services, inspectors become recognized and respected by clients for additional objective assessments that are grounded in their training and experience.
The professional home inspection industry demands a high level of education and skills. ASHI has led the industry for more than 40 years, providing the educational opportunities necessary to perform visual evaluations and operational testing of a home’s systems and components to determine their current condition. ASHI also has provided the industry with access to special discounts, resources and networking opportunities designed to grow your inspection business and make you a better inspector.
New Diversification Opportunity: Living In Place Assessments
ASHI continues to help its members with advanced education to embrace this new opportunity. Unlike most diversifications, this new direction taps into your base of former clients and then connects you with a vast base of new opportunities. The new base is simply all homes, and your new clients include people of all ages and abilities. Offering Living In Place assessments helps people in their homes and visitors, especially friends or family members who have either temporary or chronic physical or cognitive challenges. Most home inspections are connected to real estate transactions. By providing Living In Place assessments, the opportunity is virtually unlimited.
When you become a Certified Living In Place Professional (CLIPPTM), you are of value to real estate agents, helping them guide their clients to find the most accessible and safe homes. Your services are vital to homeowners planning renovation projects, as well as to people who experience an injury and who need immediate, temporary help. Your expertise and service will bring peace of mind to all homeowners, helping them continue to live in their homes.
Just as you currently identify items that are deficient in homes, when you perform accessibility and safety assessments, you identify items needed in every home. Through your expertise and training, you create a report identifying areas and features of the house that need attention now, soon and in the future. As their trusted advisor, you will increase your business by providing your services and working with their designers, contractors and many other specialists.
Are Living In Place Assessments Right for My Home Inspection Business?
The bottom line is threefold. By offering Living In Place assessments, you will have opportunities to do the following:
- Diversify your business. By increasing your services, you add to your current revenue sources, offsetting market fluctuations and future recessions.
- Take advantage of an emerging market opportunity. Homeowners need trained, reputable professionals to perform home assessments to make their homes more accessible, comfortable and safe, now and for years to come.
To learn more about how the Living In Place Institute can help you diversify your business,visit www.livinginplace.institute/.