Think Of Commercial Inspections & Amazon … Think of Mortgage Inspections & Sears
I read a report this morning where Sears sales have plunged 11.5%. Mortgage delinquencies and foreclosures are at record lows. Many of the Mortgage Order Mills (MOMs) are on life support. Some have already died. All of the MOMs are kneeling and praying to Satan and asking for a quick recession. They hate Trump because he is creating better jobs. No one wants low-fee mortgage inspections where sometimes the pay ends up being ZERO when they refuse to pay. Can you imaging paying $1,265 upfront for insurance and a background check … performing inspections … and then not getting paid. It happens in the Mortgage Segment … the home of 99.5% of all of the fraud, greed and corruption in the industry. No one is going to help you. You lose!
The average mortgage inspection pays about $3 and requires about 7 digital photos. The start-up cost for mortgage inspections is about $1,265 for required insurance and a background check. Property preservation discounts are 20-50%. Some of the MOMs are offering debris removal at $15 a cubic yard … the Government allowance is $50. There is no real money to be made in the Mortgage Segment of the field services industry. Two federal district courts have said that property preservation mechanics are employees and not independent contractors. I expect that one of the largest national field service firms is going to go bankrupt when the next federal district court ruling on employee misclassification comes out later this year.
I talked to a Texas mortgage inspector this week who is owed about $700 by a Virginia MOM with a long record of not paying. So, here is a situation where the pay was terrible and then you don’t get paid for your hard work. I suggested that he write a company review at www.glassdoor.com.
Sears is the dying store in the retail industry. Mortgage inspections and entry-level property preservation tasks are the dead areas of the field services industry. Check out the information, marketing and training products at www.sofistore.com. Check out the National Field Service Directory which lists the higher quality firms that pay the higher fees.