Field Service Inspections is one of the supreme home-based businesses available that is legitimate, honest, includes no sales and provides a good income earning opportunity.
Many circumstances require asset inspections such as leased equipment, motor vehicle ID authentication, second mortgage loans, home improvements, annual verifications and more.
There are distinct and diverse type companies. As a result, there will be different type requirements for field service inspections. One type company might have equipment or technology as loan collateral that requires a visual verification quarterly, annually or if the loan is in default. Other companies might be real estate mortgage businesses that require inspection and reporting for property occupancy status, new construction or home improvements, delinquency, foreclosure or bankruptcy issues.
A mortgage company might have a delinquent borrower who is not responding to phone calls or correspondence. In most cases, this will begin a series of different inspection reports, starting with the Occupancy Status.
After a verification of occupancy report is completed, there can be follow-up inspections on the property exterior and possibly the interior. Many times an interview with the mortgagor is suitable if the property is occupied and the loan is in default.
Whereas Inspectors are needed for reasons other than foreclosures or borrowers in default of their payments, this article presents particular attention to the increase in millions of properties requiring inspections and the follow up of routine assessments including their work or repair related maintenance.
There is a definite requirement for responsible and self motivated Field Inspectors to complete inspections on property such as buildings, homes, houses, estates, acreage, equipment and other type assets that are in loan default.
It is no secret, the Real Estate Market and Mortgage Industry has been in a disastrous turmoil since 2003 and before.
This triggered massive home foreclosures including a mixture of diverse properties and mortgages.
Financial Institutions, Banks, Saving and Loans, etc. find their rates of non-payment borrowers increased by thousands and millions. This expounds their needs (the lenders and companies) for nationwide Field Service Inspectors and Property Preservation Inspection Representatives.
It is a wonder lenders can account for each of their millions of assets in default!
Competition in any region should not be a disadvantage for anyone interested in field inspection assignments and or inspector contracting business.
There could be some disadvantages for field inspectors that live in rural areas with no properties or businesses within a 35 mile to 50 mile radius. You might find the requirement to travel too many miles a disadvantage in profits.
However, if you live within 35 miles of neighboring cities with reasonable size populations, there most probably is a need for self-contractors to complete assessment assignments for inspection servicing companies.
Obtaining a working relationship with a variety of many different lending companies is the key to earning either part-time or full-time income in the asset loss and control industry.
The objective is to send your resumes to scores of different companies; and continue to do so until you obtain assignments and prove your value. When you work for an adequate amount of companies, you can earn a quality income.
The advantage to this type of work is that it allows a contractor a flexible schedule. Your earnings income amount will be based upon your perseverance to connect with companies that provide reasonable fees with a flow of assignments.
Field inspections require representative inspectors who will complete assignments for such entities as financial service groups, lending companies, banks, mortgage corporations and insurance agencies.
Companies provide inspection kits and documents for the representative to complete and some times, but not too often, request a hand written review. A company may provide their own training, but the majority of companies offer reporting packets with easy fill-in forms including their information, instructions, policies and procedures to follow.
Inspection and audit companies provide all necessary directives and materials for each inspection. This can include a contract of acceptance agreeing on payment considerations for each individual assignment.
If you regularly work with a specific company, you may have set up an accepted fee standard. Normally, you will provide an invoice for each assignment along with your submittal report, pictures and documentation requirements.
Please Note: Under normal circumstances, you should never accept any assignment that earns less than $20 to $25. However, it is your decision to consider acceptance based upon the amount of the work the company offers and your prior or current working relationship. If you would like to discount your services for the possibility of increased assignment quantities, this can always be a consideration.
Nevertheless, prior to accepting any inspection assignment, you should always pay particular attention to the actual profit or loss you may incur. Every accepted assignment should have no details hidden. You should at all times be attentive and informed of your earnings, fee structures, expenses, instructions, procedures and requirements including payment dates for each and every accepted inspection assignment.
Prior to accepting any assignment, you can calculate income versus expense depending upon travel time and costs. Based upon the amount noted above of $20 to $25, your goal to complete your assignment should be no more than an hour. This should take into account your travel time.
It would not be profitable to complete an assignment for $25 or less, unless you have other circumstances involved that could potentially be beneficial or advantageous.
There are countless scenarios to the above statement as the work and type business of the Field Service Inspection Representative varies with periods for week, day or month assignments with diverse companies. It is very possible you will accept assignments with a one specific company that you will not agree to with another.
Reliability and responsibility are strategically vital to a good working relationship with any company you provide your services.
Even in saturated areas, companies discover their difficulty in finding honest quality people to complete assignments.
Mortgage, loan, bank companies and more are always searching for responsible inspections reps.
You should never place yourself into any position that is not safe.
Follow the instructions of the company that requests inspection information on their property.
Even while on an interview assignment, you should never discuss any (other than specified by the company) information with an individual.
On numerous occasions, a company will only request you to advise them if the property is vacant or if someone is living in the residence; or report on the specified assignment criteria.
Provide only what information is requested on the specified forms. If you wish to make comments, provide an additional sheet they may disregard (throw away). Do not clutter the required and necessary information or form.
Different types of CONTACT ASSIGNMENTS may request communication with the home owner or business person. Often, the mortgage company would like the borrower to call while you are at the residence or business.
You must follow the company’s precise instructions. Never enter into any property or discuss any company issues with borrowers or individuals unless authorized by the assigning company.
If you have not been instructed to make contact or enter into a property and you intend to do so, you will have to discuss these issues with the company for whom you are to complete the inspection. For example, if you have not been instructed to set-up an appointment, yet you may find reason to in home improvements, loans, business audits and more, you must contact the company.
Another example could be if you are instructed to make contact at the home owner’s door, yet it may be necessary to enter the property, you must first contact the company to obtain an approval. Never ASSUME or make on-site contact with the property owner or business owner if it is not specified in writing on your assignment instructions.
In all of my years of many different type inspections, I never experienced any problems or difficulties. I have always followed company instructions.
It is important to realize that some areas you may be assigned could be unsafe. You should be aware of these locations and decide if you will accept the assignment.
You ask the question, could inspecting unsafe areas make you more valuable and or the assignment pay higher fees?
I suggest you value your safety more than being concerned with earnings in unsafe or hazardous conditions and or receiving higher fees. Leave this type assignment to the seasoned experts.
The Field Inspections Industry should provide professional conditions. You are not expected to act as a Debt Collector in any circumstance; unless, you accepted this type assignment and or interview. Being a Debt Collector or Investigator are significantly different positions than a Field Inspector and the fee rates are much different.
If you wish to pursue investigative type assignments, you could research more on that type of position and or self employment.
MORE ABOUT the Field Inspection Industry
How to Become a Field Inspection Representative Information and Training Guide eBook.
THE MANY TYPES OF PROPERTY INSPECTIONS:
Nationwide companies require inspections and contract individual Inspectors to report on specific type properties and or assets. There are various types of inspections for distinct objectives such as;
- Loans for the following conditions
- Home Improvements
- Automobile or Trailer Purchases
- First Time Home Buyers
- Business Equipment Leasing
- Delinquent Interviews
- Business and Merchant Verifications
- Many more ….
Considerations to Bear in mind.
As a contractor you can Accept or Reject any type of assignments with standard or low fees offered to you; however, it is important to realize that it is very helpful to your Client that you assist them with the smaller paying inspections as well as the higher paying assessments.
Many if not most companies provide Internet online input forms making the inspection reporting simple and easy. The many types of evaluations and inspections are streamlined with fill-in forms for report submittals; yet, many inspections still require completion in physical documentation.
The differences in reporting are few. There are always fill-in-forms whether they are faxed, mailed or packaged for delivery to your assigning company.
On many occasions, contractors or contracting businesses must invoice for the inspections performed, including recorded data for reimbursements on expenses and mileage, if agreed.
Upon completion of the inspection assignment or group of assignments, companies pay inspectors in various methods. Often the contractor will provide invoicing when reports are submitted or within a reasonable period after conclusion of inspection. Some companies will provide payment via transfer into your bank account within 30 to 45 days after inspection report. Other companies might mail you a check immediately or within days of receiving your inspection submittal.
Stipulation: Keeping detailed business records can be the determining factor in your company or self contracting success or failure. There will be no greater value to you than the accountability that you maintain through-out your entrepreneurial endeavors and journey.
You can research the following terms to learn more about the Field Service Inspection Industry:
- drive-by inspections
- field service inspection companies
- field service inspector assignments
- field service representative training
- home based photo inspection business
- field representative
- how to become a drive-by home field inspector
- how to become drive-by field inspector
- how to become field service representative inspector
- how to become an inspection representative
- Inspector opportunities
I have written an inexpensive (low cost) very informative Field Service Inspection Guide eBook that provides you with the necessary information and training that you can instantaneously download to your computer.
FIELD SERVICE REPRESENTATIVE INFORMATION & TRAINING GUIDE EBOOK
The material is an - Easy Get Started Guide eBook - that presents the informative details and guidance for any beginner or person unfamiliar with the Field Inspector Industry.
My eBook provides details to contact me, other professionals and or join many available Field Inspection groups that offer valuable information and hiring companies. You can find many links to information that will be beneficial, useful, and effective including, be supportive and accommodating in your future success as a Field Representative Inspector.