Listen to the Companion Podcast: Coffee With Steve Episode 1
Before venturing into the home inspection industry, Scott Loigon served in law enforcement for thirteen years. Before that, he and his partner Stephanie Loigon ran a daycare, a doggy vacation, various multi-level marketing such as selling jewelry through Lia Sophia or Amway, formerly known as Quixtar.
“I’ve done banking; I’ve done professional painting. I’ve worked overnights at Home Depot, overnights at Target, you know two or three jobs, and multiple different restaurants. You know I probably had 42 different jobs,” says Scott. “And then I’ve always wanted to be a cop. I’ve always loved that industry. So here I am in law enforcement and it’s a grind, and we wanted to own a business. The opportunity to start a home inspection came up, and we researched it for about a year, and it’s scalable. So it’s not just purchasing a job. I walked in one day with a resignation letter after thirteen years and said today is my last day and talk about scared, I think, yes, I was scared, but really at that point were hit the ground.”
The first four months was just getting their name out there and marketing—mainly to Realtors. Many home inspection teams are dependent upon real estate agents for 95% of their client base. And in the real estate industry, relationships between home inspectors and Realtors can significantly influence a home inspector’s business through providing valuable referrals and word-of-mouth recommendations.
In the second year of business, the Loigon’s clocked six figures in sales. And although the real estate market is currently super tight—at the front end of the week, there were just over 1600 homes for sale in the entire state and people are still waiving home inspections—this past summer, the Loigons looked to hire. Additionally, they added a septic tranche. They are stacking businesses upon businesses that play hand in hand with each other.
The Loigons also encourage pre-listing inspections. A pre-listing inspection provides a comprehensive overview of a property’s condition, which enables the seller in conjunction with the Realtor to set a more accurate asking price, reducing the chances of overpricing or underpricing, which can lead to extended listing times or lower offers. Having that pre-listing inspection tends to nip negotiations in the bud because you can choose to repair identified issues or adjust the selling price to match the home’s condition. The pre-listing inspection demonstrates too your commitment to transparency and builds trust with potential buyers.
“Let’s just say an average home inspection costs $500,” says Scott. “And you have that full report that outlines the good the bad and the ugly. Now you’re at the closing table. There’s no negotiations because you set the price right and the seller can roll the $500 fee into the price of the house. So you know the condo you list it at 340,500 instead of 340, and no one’s gonna go, ‘oh my God, that’s ridiculous’—right?”
“A house is a living breathing thing. You need to pay attention to it. You can’t just walk in your front door and sit in your living room couch and think your home is fine. You need to make sure the heating systems are working. I tell bran new first time home buyers newly married couples, every Sunday It’s relationship building time—grab a cup of coffee and walk around your house holding hands. Enjoy this beautiful thing that you’re into for years and years, your biggest purchase, and look at the house. You may see some wood rot going on, or a shingle fell off. Or, oh look, there’s a bee’s nest that we need to knock down.”
The Loigons have always wanted to start a business. “We weren’t afraid to take that first step. And if it [the business] fails, then we’ll figure something else out,” says Scott. They decided to join a franchise because the benefits of more upfront credibility outweighed the novice feel of starting from very scratch. “With WIN Home Inspections, I could say we’ve done over 100,000 home inspections and I have this team of people behind me,” says Scott.
While the franchise has been instrumental in equipping the Loigons with technical skills, it fell short in guiding them on how to structure the business financially and organizational.
In adding the septic arm, Scott admits to not being a business expert. “There’s a little fear in starting this new company because I’m not a business expert so I’m trying to answer all those questions and get my business plan written and all that.”
Scott emphasizes the value of a collaborative approach though. “We don’t have to try and figure it all out ourselves. We can seek those who are smarter in those areas.”
You can check out the WIN Home Inspection team on Facebook, LinkedIn, and Instagram. They have a web page too! Give them a call at 603 931 3131 or send them an email!
