what are we worth?

[John Dirks Jr]

I figure, for a real estate transaction, when the average Joe hires the average HI, the average Joe gets a positive return on the fee he paid.

On an average $300 inspection fee, what do you think the average dollar value a client gets in return?

[sepefrio]

The only real answer I could give is "invaluable"

For every home where the inspection fee exceeded needed repairs, there are surely lots more that went into 5 digits. Money, if they did not have the inspection, that this same person would have had to spend. And even if it is just a good feeling of knowing your getting a good safe home, how can areal value be put on that? Kind of hard really.

I might compare it to a rectal exam, it might be uncomfortable at first, but it's a good feeling when the results are nothing to report.

[SonOfSwamp]

I figure, for a real estate transaction, when the average Joe hires the average HI, the average Joe gets a positive return on the fee he paid.

On an average $300 inspection fee, what do you think the average dollar value a client gets in return?

I'd say that depends on the quality of the HI job. I -- and I'm sure others -- have done jobs that saved customers six-figure money. As noted elsewhere, I've seen an HI brought from the drunk tank into the courtroom, wearing shackles. He cost his customer a couple thousand, at least. And then there was the local HI who cost his customer about $300K because he was just plain ignorant and sloppy.

WJ

[Jim Katen]

I was going to answer, but my brain went into shock at the words, "average $300 inspection fee." The paramedics tell me it was a close call, but that I'm going to be ok now that they restarted my brain. They advised me, though, not to expose it to such shocking concepts again for at least a few more days.

- Jim Katen, Oregon

[Richard Moore]

On an average $300 inspection fee, what do you think the average dollar value a client gets in return?

It's an odd question put that way. My literal answer would be that the average client received $300 of average HI services and, if that was in fact the average fee, then it was fair value. No more and no less.

But...I'm assuming you are actually asking about the average dollar amount that gets renegotiated due to our findings? I think that is an untrackable figure. Way too many factors involved, such as the client's "lust" for the home, other offers, stuff that never gets fixed, etc, etc. While we may occasionally hear that we saved (or cost...shudder) a client $xxxx, it's not like any of us follow up each inspection with a questionaire about the original offer and final prices. None of our business. I couldn't come close to answering the question for my own clients and I very much doubt there is a reliable national average figure.

[ghentjr]

I was going to answer, but my brain went into shock at the words, "average $300 inspection fee." The paramedics tell me it was a close call, but that I'm going to be ok now that they restarted my brain. They advised me, though, not to expose it to such shocking concepts again for at least a few more days.

- Jim Katen, Oregon

Amen, brother!

[John Dirks Jr]

I was going to answer, but my brain went into shock at the words, "average $300 inspection fee." The paramedics tell me it was a close call, but that I'm going to be ok now that they restarted my brain. They advised me, though, not to expose it to such shocking concepts again for at least a few more days.

- Jim Katen, Oregon

Sorry, I could have worded it better. Take out the word "average" where ever it appears in my original post. Take out the $300 too. I get the point.

[Scottpat]

$300 could be a good fee for a small condo or tiny home in many parts of the country. Don't be ashamed of your fees if you are happy with your income. I did a 900 sf new construction condo last week for $300 and it took me a little less than an hour, I felt almost guilty for a few seconds.

[John Dirks Jr]

$300 is the bottem end for me. They go up from there based on various things. The highest fee I charged so far was $545.

[waynesoper]

the dolllar value your inspection brings your client depends directly on how well their broker negotiates for them. So , on the average, your client recieves much less dollar value than he should, but still generally recieves more than he paid for your services.

Now if you sold each client a broker prod for 19.99 and taught him how to use it. Your income would increase and the clients return would be much greater AND instead of BEING a pain in the a$$. The broker would HAVE a pain in the a$$

[Garet]

I'm sure I've never given a client less value than what I charged. I know one renegotiated $70k off the purchase price, and another walked from the deal after repair estimates came back at $250k.

Convincing potential customers of the value of our services has got to be the hardest aspect of the business end of this gig.

[Les]

I have been gone for a few days and this thread piqued my interest.

I don't care how much I save some buyer.

I don't care if they buy or not.

I don't care if they re-negotiate.

I don't care if I "saved their life".

I don't know how much the house is worth.

I don't care if it is my kid or someone elses.

I just inspect it and report.(based on my knowledge and experience)

I am not a hero.

I used to do inspections (good ones*) for $125.00

*covered fire pits, outhouses, thatch roof, entrance to caves, adjacent stream and tallow lamps.