Ancillary services have become a critical part of the home inspection business over the last several years as a way to continue to keep revenue streams steady. In Florida,
HomeTeam Inspection Service’s franchisees have recently added wind mitigation to their portfolio of services, opening an opportunity for heightened revenue.
Colin Conroy,
HomeTeam franchisee in Pompano Beach, Fla., estimates that 75 percent of the homes his team inspects also include a wind mitigation inspection. Of the remaining 25 percent, he said many will call back to have a wind mitigation inspection performed after their initial inspection.
“It has increased our business substantially,” he said. “The number of inspections we’re doing is about the same as last year, but we have seen a substantial increase in the number of wind storm mitigations we’ve been asked to perform.”
Historically, wind mitigation inspections in Florida have been performed by the state-run home insurance group, which created the service when many insurers pulled out of the state due to heavy losses associated with hurricanes. Licensing for home inspectors became available in March this year, allowing home inspectors in the state to perform wind mitigation reports.
The process involves photographs, use of metal detectors and taking exact measurements — all carried out by an inspector who has credibility with insurers. Conroy estimates his revenue is up 22 percent from last year, and attributes 75 percent of that increase to adding wind mitigation inspections to his service offerings.
But the service isn’t just a way for
HomeTeam franchisees to add to their offerings, and their bottom line, but is also something homeowners have a proven need for. Homeowners can have the wind mitigation inspection completed during the time of an initial inspection and now Realtors® in the area are also becoming educated about the process in order to better prepare consumers.
“Typically if you have a home that meets all or most of the standards, you’re looking at the homeowner saving $500 to $1,000 in the premiums they will pay,” Conroy said. “It’s always worth the cost of doing the inspection.”
Although wind mitigation inspections are more typical in Florida right now, many believe it won’t be long until other states follow suit. By getting into the wind mitigation service early in Florida,
HomeTeam is now prepared should other states be affected by similar weather patterns and begin to offer incentives to homeowners. This will ensure that franchisees are ready to begin implementing wind mitigation checks in the future if they are needed in other parts of the country.
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