more than any other consumer, a recent homebuyer spends ... · spends the most money on major home...

1 Benjamin Gromicko, InterNACHI April 24, 2012

Summary More than any other consumer, a recent homebuyer spends the most money on major home improvements. Nearly 10,000 times every day, a homebuyer hires a trusted home inspector to perform a point-of-sale inspection. Leveraging home inspectors to target homebuyers with consumer education can drive demand.


SOURCE: Financial Guidebook for Energy Efficiency Program Sponsors. ENERGY STAR. EPA. December 2007.

Though homeowners make home improvement decisions in response to a number of different factors – such as equipment failure or the birth of a new child – one event known to spur significant expenditures is a home purchase.

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The typical recent homebuyer starts planning home improvement projects at the point of sale.


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They will spend nearly $13,000 within the first year.

SOURCE: Spending Patterns of Home Buyers. Special Studies. Natalia Siniavskaia, Ph.D. HousingEconomics.com. December 2008.

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75% of homebuyers identify a list of desired projects at the time of purchase.


75% of homebuyers identify a list of desired projects at the time of purchase.


Inspector

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90% work on these home improvement projects within a year of moving in.


90% work on these home improvement projects


Inspector

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Research shows that homeowners spend the most on home improvements within two years of buying a home, especially if the property is distressed.

SOURCE: The State of the Nation’s Housing. Joint Center for Housing Studies of Harvard University. 2011.

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Why target homebuyers?

Just as the famous bank robber Willie Sutton said, “Because that’s where the money is.” Recent homebuyers spend the most money on home improvement projects. And they spend it almost immediately after buying.

Just as the famous bank robber Willie Sutton said, “Because that’s where the money is.”

Recent homebuyers spend the most money on home improvement projects.

And they spend it almost immediately after buying.

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Why target homebuyers?

Targeting recent homebuyers with consumer education and information is essential to driving demand.

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Targeting recent homebuyers with consumer education and information is essential to driving demand.

SOURCE: Chandler VonSchrader. Program Leader. EPA Home Performance with ENERGY STAR. Quote 2012.

10 Benjamin Gromicko, InterNACHI

Q: Who can target recent homebuyers? A: Not contractors.

April 24, 2012

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Homeowners are wary of information coming from a contractor or sales person. Consumer education needs to come from a trusted professional.

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Consumer education needs to come

SOURCE: Motivating Home Energy Improvements. United States Department of Energy. 2010.

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SOURCE: NAR, National Association of REALTORS. Home Inspection Study. Roxanne Pipitone, Gibbs & Soell Public Relations. 2001.

A homebuyer hires two trusted professionals when they’re making the most important financial decision in their life: •! their real estate professional and •! their home inspector.

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99% of all REALTORS® recommend a home inspection. Most homebuyers hire a home inspector.

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SOURCE: NAR, National Association of REALTORS. Home Inspection Study. Roxanne Pipitone, Gibbs & Soell Public Relations. 2001.

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Home inspectors provide affordable inspection services that consumers demand. The home inspection industry is selling to millions.

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SOURCE: InterNACHI. National average fee structure study and membership poll. 2011.

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Home inspectors provide affordable inspection services that consumers demand.

The home inspection industry is selling to millions.

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SOURCE: InterNACHI. National average fee structure study and membership poll. 2011.


New home sales in 2010: 323,000

Existing home sales in 2010: 4,309,000

Home inspectors inspected most of them.

April 24, 2012

SOURCE: The State of the Nation’s Housing. Joint Center for Housing Studies of Harvard University. 2011.

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SOURCE: InterNACHI, the International Association of Certified Home Inspectors. www.nachi.org/stats

Millions of homes are inspected across North America every year. Every yellow dot represents a certified home inspector.

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Right now, somewhere in North America, a home inspector is sitting at a breakfast table with a new homebuyer, and the conversation over coffee is as much about saving energy as it is about home improvement.

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The average time home inspectors are ahead of everyone else in reaching homebuyers.

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April 24, 2012 19 Benjamin Gromicko, InterNACHI

There are various ways in which the home inspection industry educates homebuyers about:

•  how homes work; •  how to maintain them; and •  how to save energy.

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Home inspectors are performing Home Energy Inspections, a simple tool that helps homeowners easily understand their home’s energy efficiency.

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Inspection reports automatically opt-in homebuyers for: •! local rebates; •! local retailer products; and •! local contractor referrals.

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local retailer products; and local contractor referrals.

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Home inspectors are handing to recent homebuyers discount cards that drive traffic and consumer demand.

SOURCE: InterNACHI and Ace Hardware Partnership Program in Colorado, Wyoming and New Mexico. 2012.

Home inspectors are handing to recent homebuyers discount cards that drive traffic and consumer demand.


Inspectors hand-deliver home maintenance books to homebuyers.

SOURCE: InterNACHI. Home maintenance book sales since 2009. www.nachi.org/now

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Home inspectors provide homebuyers with: •! home inspection reports; •! home energy scores; •! local rebates; •! gift cards; •! home maintenance books; •! recommendations on operating and

maintaining the home; •! ways to improve home energy performance; and •! referrals to trusted contractors.

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Home inspectors provide homebuyers with:

recommendations on operating and

ways to improve home energy

referrals to trusted contractors.

Inspector

SOURCE: InterNACHI. www.nachi.org


If you are a utility, retailer, corporation, home performance sponsor, or government entity: Leverage the existing national workforce of trusted professional inspectors who can target millions of homebuyers every year with consumer education to drive demand for home improvement projects, including home energy upgrades. Contact InterNACHI.

April 24, 2012


If you are a contractor: Join InterNACHI, the world’s largest network of certified professional inspectors, who can generate leads for your business. Every contractor should know 5 local home inspectors. Contact InterNACHI now.

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SOURCE: InterNACHI’s Vision and Mission Statement. www.nachi.org/vision-mission-statement

InterNACHI, the International Association of Certified Home Inspectors, is the world’s largest organization of residential and commercial property inspectors who perform more than 10,000 property inspections every day.

InterNACHI’s mission is to educate homeowners by helping them understand the functions, materials, systems and components of their properties.

InterNACHI inspectors are committed to providing consistent, accessible and trusted information to their clients about their properties' condition and energy efficiency.

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Benjamin Gromicko www.nachi.org/energy [email protected]

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Benjamin Gromicko

Join the largest network of home inspection professionals

on the planet.

InterNACHI

more than any other consumer, a recent homebuyer spends ... · spends the most money on major home...

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