Right now, there is a downward trend in the number of home inspectors. By 2030, it is estimated that there will be 3% less housing inspectors[1]. With the lower number of inspectors in the market, it means that there are more inspections to be completed by less people. In addition, the COVID pandemic has increased the number of virtual tours and inspections[2] that are needed in order to maintain social distancing, firm up buyer trust, and sell homes. Drone usage for home inspections and virtual recordings are an ideal way to ensure buyers feel secure in their purchase, even from a distance. It’s cost-effective, thorough, and accurate.
COVID-19 Housing Inspection Trends
The housing market throughout the COVID-19 pandemic was a roller coaster. With record low interest rates, and an influx of cash through unemployment and stimulus money, houses were flying off the market, some from investors and many by first-time or upgrading home buyers. However, the competition for houses was also steep, with 28% of single-family homes during the pandemic being purchased by investors.[3]
This increase in investor purchasing meant that private individuals were having to take some drastic measures in order to secure the homes they wanted. For example, this could look like offering above the asking price or, in many cases, waving inspections and contingencies.[4] This affected the number of inspections that were conducted during the pandemic, but it wasn’t always the best choice for home buyers. Of those who waived inspections, 64 percent of millennial home buyers said they have some regrets about their home purchase.[5]
So while inspections during the COVID-19 pandemic were lagging, virtual tours and video of houses on the market did increase. In order to slow the spread but maintain the market, many private sellers and agencies alike were using video in order to sell homes, a trend that is not likely to settle down due to its convenience and time-efficacy. “Listings with videos that tell the story of the home were vital,” says Julie Reese, a real estate agent from Bellevue, Washington.[6] This went for both interior and exterior videos, alike.
How drones help meet real estate market needs for inspections and video listings
External factors affect the housing market every day. But when it comes to inspections and listing images and video, drones are the best way to capture all the necessary information about a property.
With home buyers learning that waiving an inspection is not wise, the number of inspections are on the rise again, but the number of home inspectors is lagging. Drones allow inspectors to complete more inspections in less time and more accurately. Drone technology allows home inspectors to stay safely on the ground and collect more accurate angles and information about a property, including gauging heat or cooling loss with emissivity technology.
Moreover, the pandemic has taught us that you can have accurate tours of a home without being on site. By 2022, 45% of employees were working from home or in a hybrid fashion. This has given people the ability to move to wherever they would like and keep the same career or job. Being able to use drones to record both internal and external property footage can provide all the information a buyer needs to make an informed decision about the property without needing to invest in additional travel.
Drones provide a competitive advantage for home inspectors
Because the housing market continues to be unpredictable since the COVID crisis hit, using drones gives one home inspector a sharp competitive advantage over others. Customers want an inspector who can provide a clear, accurate report in less time; drones unlock that ability. Drones also give inspectors the ability to create more bandwidth for themselves to inspect more homes in less time and in a safer manner.
Drone Hangar can provide you with the drones that you need to elevate your home inspection business, along with the training and maintenance you need to continually develop your skill set. You can learn more about our current drones in our shop, and reach out any time to ask questions or to get started with drone inspections.
[1] Home Inspector: Career Definition, Employment Outlook, and Education Requirements (learn.org) – accessed at https://learn.org/articles/Home_Inspector_Career_Definition_Employment_Outlook_and_Education_Requirements.html
[2] Covid’s Impact On The Housing Market – accessed at https://www.bankrate.com/real-estate/covid-impact-on-the-housing-market/
[3] See Refrence Number 2
[4] See Refrence Number 2
[5] See Refrence Number 2
[6] See Refrence Number 2