TOPIC: Pricing Structure

That is very true about timing and crawling, but the problem is you will spend all day working on one report.  You will need to try and shorten that so that you have the ability to do more than one inspection a day.  That is what we are all trying for if not more. 

Yup, one of the things I have been doing is testing different templates designs.  There are certain criteria I want in my templates that tend to make them a little longer but I am working on finding ways to shorten them up and still meet my needs and wants.

Yes John that we must do!

Here is something else I'm seriously thinking of doing.  It's not an original idea  I heard it at Joe Ferry's seminar on Law and disorder.  I am only hesitant because I have all the work I can do right now.

I think I recall you saying that you do not carry E&O so this might fix that if asked if you are insured.

This will definitly set you apart from the rest.

See your bank manager and get a line of credit say 5-6k  Don't use it just get it opened up.

Telephone conversation with a caller:

Caller:  How much do you charge for a home inspection?

You :  How big is the house

Caller: Oh about 15-16 hundred feet

You:    Where is it?

Caller;  right in our town

You:    Ok, my fee for a home that size is $549.00

Caller: What!  Why so much?  I just spoke to a guy who wanted $250.00

You :   Did you ask him if his inspection agreement contains a limit of liability?

Caller   What's that?

You     Well every other home inspection company that I know has a clause in their inspection
         agreement that limits their liability to the cost of the inspection.  So if something goes
         wrong they will only refund the cost of the inspection without you taking them to court.
         I don't have a clause like that in my agreement.  I'll tell you what.  If you will allow me
         to limit my liability to $3,000.  I will reduce my fee to $399.00.  What that means is
         that if something goes wrong and it is my fault you have access to up to $3000.00 for
         repairs not just the inspection fee.  Does that sound reasonable?

Caller:  Well I don't know. I'll have to call the other guy to see if he has that limit of liability.

You :    Great let's book a time for your inspection, just so I won't be booked when you call
          back.  I know what the other guy will say.

Caller:   Ok fine  (book the time)  I'll call you back.

You  :   Thanks I'll wait to hear from you.

Now that is a scary approach.  Remember if the roof leaks the caller may be entitled to have the roof leak repaired, not a new roof, furnace repair etc.  No one can sue for betterment just repair.

It is my understanding that no court would overturn a NEGOTIATED  limit of liability as long as it is a reasonable amount ( and 3K is reasonable) and no lawyer would sue if the NEGOTIATED LIMIT OF LIABILITY is only $3,000.  (No money it it for them)

You would have access to the line of credit if you ever did really screw up.  I doubt that would happen and you would be making decent bucks  ( insert other amounts as you see fit but make it a big number.

Thoughts?

Cheers

Not a bad idea.  Unfortunately, I'm using my line of credit to live on right now!  lol

John your the MAN! to admit that! Me Tooo!
Russ

John:

BTW  My inspection agreement contains a clause that allows me to make changes to the onsite report within 48 hours of the inspection.  I do review it at home with a view to correcting any errors but I have not had to, yet!

Hope this helps

Cheers

I like that clause.