Who performs commercial inspections?
The commercial inspection market is a huge and largely untapped source of revenue for individual property inspectors. Commercial inspections are generally performed by either engineers and architects, or by inspection companies that offer commercial inspections in addition to residential inspections.
Engineers and architects are typically single-discipline individuals who can only provide information about a system that’s within their area of expertise. Additionally, engineers and architects tend to charge premium fees, which gives the home inspector the opportunity to share the market by charging a more competitive rate.
Many residential inspectors working in the commercial market approach commercial inspections the same way they do home inspections. Typically, the language they use and their company branding and marketing remain unchanged and are based on their residential inspection services. However, because of the major differences between residential and commercial inspections, this approach will limit your success in the commercial inspection arena. When adding commercial inspections to your residential services, you must change your mindset and marketing strategy in order to be successful.
What’s the nature of the market?
The client for a residential inspection is often emotionally attached to the deal and is potentially more difficult to work with than a client for a commercial inspection. An inspection for a commercial property isn’t personal or emotional for the client because it is strictly a business transaction. When inspecting commercial properties, your clientele will consist of business professionals who will follow an established procedure in evaluating the property. This evaluation is commonly related to its potential to yield a positive return on the investment, and involves examining information related to many physical and business aspects of the subject property.
Unlike residential transactions that are based on appraisals and comparisons, commercial transactions largely rely on the property’s history and revenue. However, prospective commercial inspection clients make up more than just buyers and sellers.