Home Inspector's Favorite Question: "What's Your Best Price?"

By
Home Inspector with EKAN Home Inspection CPBC #69177

On Vancouver's North Shore single family homes start at one million dollars. I emphasize the word "start" because one should not expect more than lot value for that price. Serious money. As you can image, we've had an  amazing appreciation of real estate.

Yet the expectation of many buyers in the region is that the sweet spot for the cost of a home inspection should be under $500. In a typical week at least half the inquiries received by EKAN Home Inpection will ask... "What's your best price?" or "Can you match Company X's price?" or "Is that the best you can do?" or, and I really like this one... "My realtor said it would cost about $400." 

At EKAN, we have no issue explaining how we differentiate ourselves from the competition, the value added that the client receives using our service and the quality of the product. However, in some cases the caller is no longer listening because his or her agent has already told them to expect to pay some ridiculous low-ball figure.

So this is a post to all well-intentioned agents out there about the cost of home inspection services. Prices continue to climb because of legislation, regulations, liability insurance, additions to standards of practice. So too, more professional engineers are attracted to the business because their backgrounds in design and construction are a natural fit. All this adds up to a higher rate structure than most agents anticipate. It is preferable to quote a range for a service than to give your client a low-ball price which does no one any service. My rule of thumb for a range is 1.5 to 2 times. Better yet, provide a list of home inspectors who specialize in the home's area, without prices, and let the client to do their own investigation.

Yes there are home inspectors that you can hire for $299 and they will deliver a report on-site at the end of the inspection. But there are other professional inspectors too! Look at their websites and their fee structure. Some will not walk out their office door for less than $650, even for a condo. On larger properties EKAN charges typically well over $1000 because there is a lot to do and, from our clients perspective, our deliverables are well worth it!

 

 

Posted by

www.ekan.biz

EKAN Home & Property Inspections

Sunshine Coast, North Vancouver, West Vancouver 

Comments (2)

Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

Have the realtor foot the bill. Inspection, staging, repair etc all come out of listing agent commission.

Mar 06, 2017 08:06 PM
Eugene Kanciar
EKAN Home Inspection - West Vancouver, BC
Our Experience, Your Peace-of-Mind

Sam, I like your out-of-the-box thinking. However my association would consider this a conflict of interest when the agent who has a lot of income at stake arranges for the inspection. Of course top tier realtors would always be acting in the best interet of the client.

Mar 07, 2017 06:37 AM