By now, most home inspectors across the country have heard the news regarding the latest payment integration in ISN known as FlexFund. Inspectors have reaped the benefits of this automated, deferred payment feature that removes the risk traditionally associated with offering this service and has allowed inspectors to earn more revenue per inspection.
The latest update, however, has reignited excitement in the inspection community since the automated capabilities within this payment feature now allow for next-day funding on FlexFund transactions.
Previously, home inspectors were waiting 5-7 business days for funds to clear on these transactions once the home inspection was completed. Now, home inspectors will receive their funding the next business day and should see the funds reflected in their account within 24-48 hours.
Let’s recap the FlexFund process:
- Client schedules home inspection and selects FlexFund as their preferred method of payment
- Client signs agreement and provides back-up credit card number in the event the sale doesn’t make it to closing
- Home inspection is completed
- Guardian funds the home inspector the next business day
- Funds reflected in the home inspector’s account within 24-48 hours
- Guardian handles the rest of the FlexFund process by directly dealing with closing/title and collecting funds from the client.
This latest update adds speed to an already efficient and effective payment feature.
Inspectors should be reminded that companies actively using this feature are seeing an average of a 24% increase on FlexFund transactions vs non FlexFubd transactions. The video below is a clip from a recent webinar where home inspector, Cory Pool, speaks to the success of the program and how it has increased his revenue by 66%!
*Note at the time of recording, FlexFund was known as Guardian Pay At Close.