Inspector Toolbelt Talk

Why Recessions Are Good for Home Inspectors


Listen Later

Recessions aren't something to fear – they're opportunities to seize, especially if you're a home inspection business owner. While conventional wisdom suggests economic downturns are universally negative, historical data reveals a surprising truth: home inspection companies consistently thrive during these periods.

During both the Great Recession (2007-2009) and the COVID-19 downturn (2020), the inspection industry experienced remarkable growth while other sectors struggled. This isn't coincidental – it's a predictable pattern driven by fundamental market shifts that create ideal conditions for inspection services to flourish.

When economic pressure forces more homes onto the market, housing inventory increases dramatically. Financial hardships, job relocations, and foreclosures push properties into circulation that would otherwise remain off-market. Simultaneously, market dynamics shift in favor of buyers, making sellers more willing to invest in pre-listing inspections to attract purchasers. Recession-era buyers, naturally more cautious with their investments, rarely waive inspections and frequently walk away from properties with significant issues – creating inspection cascades where multiple inspectors evaluate the same property for different potential buyers.

The multiplier effect continues as rejected properties generate additional inspections when sellers must find new buyers, and those initial buyers move on to inspect other homes. Add in the foreclosure market, increased investor activity as prices drop, commercial property transitions, and renovation loan inspections, and you have a perfect storm of opportunity for inspection businesses that maintain operations while competitors react emotionally and exit the market.

Waiting eight to ten years between recessions might seem like a long time, but these economic cycles are inevitable. Rather than dreading the next downturn, prepare to capitalize on it. When others panic and retreat, position your inspection business to capture the expanded market share that historically appears during these periods. The evidence is clear: in the home inspection industry, recessions don't signal disaster – they herald opportunity.

Check out our home inspection app at www.inspectortoolbelt.com
Need a home inspection website? See samples of our website at www.inspectortoolbelt.com/home-inspection-websites

*The views and opinions expressed in this podcast, and the guests on it, do not necessarily reflect the views and opinions of Inspector Toolbelt and its associates.

...more
View all episodesView all episodes
Download on the App Store

Inspector Toolbelt TalkBy Ian Robertson

  • 5
  • 5
  • 5
  • 5
  • 5

5

30 ratings


More shows like Inspector Toolbelt Talk

View all
The Real Estate Guys Radio Show - Real Estate Investing Education for Effective Action by The Real Estate Guys

The Real Estate Guys Radio Show - Real Estate Investing Education for Effective Action

715 Listeners

The EntreLeadership Podcast by Ramsey Network

The EntreLeadership Podcast

4,314 Listeners

Rich Dad Radio Show: In-Your-Face Advice on Investing, Personal Finance, & Starting a Business by The Rich Dad Media Network

Rich Dad Radio Show: In-Your-Face Advice on Investing, Personal Finance, & Starting a Business

3,847 Listeners

Home Inspector Podcast by InterNACHI by Ben Gromicko

Home Inspector Podcast by InterNACHI

43 Listeners

THE ED MYLETT SHOW by Ed Mylett | Cumulus Podcast Network

THE ED MYLETT SHOW

14,048 Listeners

Bedros Keuilian Podcast Show by Bedros Keuilian

Bedros Keuilian Podcast Show

2,229 Listeners

The Home Service Expert Podcast by Tommy Mello: $200 Million Founder|Forbes, Inc., Entrepreneur Columnist

The Home Service Expert Podcast

722 Listeners

Ken McElroy Show by Ken McElroy

Ken McElroy Show

714 Listeners

Structure Talk by Reuben Saltzman

Structure Talk

52 Listeners

Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News by Justin Verrengia

Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News

579 Listeners

The Home Inspector Marketing Podcast by Mike Crow

The Home Inspector Marketing Podcast

12 Listeners

Empire State of Mind by Matt Williams

Empire State of Mind

9 Listeners

The Ride Along Home Inspection Podcast by Brad Lowery

The Ride Along Home Inspection Podcast

8 Listeners

The BetterLife Podcast: Wealth | Real Estate Investing | Life by Brandon Turner & Cam Cathcart

The BetterLife Podcast: Wealth | Real Estate Investing | Life

818 Listeners

The Commercial Property Inspector Podcast by CCPIA®

The Commercial Property Inspector Podcast

0 Listeners