What if I told you that it was your responsibility to flip repairs into replacements?
You might be thinking that I’m a greedy salesperson. After all, why would I bring up a roof replacement cost if the homeowner wanted a repair?
On the other hand, you may be a sales-driven organization. You may be ALL about flipping roof repairs into replacements because those replacements are bigger ticket items.
Now, all of those can be true at once. Still, at the end of the day:
- It’s about helping our customers make informed decisions.
- It’s our responsibility to help our customers make informed decisions, understand their options, and help them choose the best one.
That’s why I train roofing sales reps to open up sales appointments by stating our mission and purpose. And that mission is to:
- Understand the customer’s needs and their roof.
- Show them their options.
- Help them make a decision, even if that means they do not choose us.
So, wherever you sit on offering the replacement, I believe you’re going to find something incredibly valuable here that can help you deliver an amazing experience while helping your customers make the right choice — and while smashing your income goals in the process.
Welcome or welcome back, by the way. Adam Bensman, The Roof Strategist, here. Everything I do here is designed to help you and your team smash your income goals and give every customer an amazing experience.
So, I want to break down the math and show you how we can:
- Flip repairs and replacements.
- Help homeowners understand the true costs of roof repairs.
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What Roof Repairs Really Cost: Simple Math
Now, most folks don’t understand the costs of roof repairs. Here’s what I mean by that.
Let’s say the average roof repair costs $2,500. So, if someone needs to fix their roof, it’s going to set them back $2,500.
How many more years do you think that repair adds to the life of the roof?
I’ve asked people that, and generally, they answer five years. So, you spend $2,500 to get five more years out of your roof.
Now, generally speaking, those repairs are coming toward the end of the service life of the roof. Of course, there are anomalies here, like shoddy workmanship or flashing that wasn’t done.
Still, roof repairs usually involve fixing the pipe jack, worn seals, dry rot, and other serious wear. So, for this assumption, it’s safe to say the average $2,500 roof repair gets about five more years out of the roof.
Let’s break this down even more now because we’re going to share this with our homeowners (and explain how to do that at the end).
Roof Repair vs Replacement Costs by the Numbers
Now, let’s say the average roof costs $20,000 (that’s just a ballpark figure because I know it can be more expensive in some northern markets and much lower, like closer to $12,000, in southern markets).
With the average roof price of $20,000, we also have quarterly rate increases of 5% to 12% from our distributors.
So, we’re seeing this average roof price fluctuate with these quarterly rate increases. That means that:
- The price of roofing doubles every five years, on average.
- A $20,000 roof today will be $40,000 in five years.
How do we communicate this to our customers when they’ve called you out for a $2,500 repair?
Some folks will just say something like this, which I do not agree with:
Hey, it’s $2,500 or $20,000 to do your roof.
With that, most people are going to opt for the cheaper option because:
- They don’t want to drop $20,000.
- If they can push that bill out five more years, they’re going to just spend $2,500 to do that.
They do NOT understand the true cost, which is what we’re going to communicate to our homeowners.
How to Explain the True Costs of Roof Repair vs. Replacement to Homeowners
Here’s how we can open homeowners’ eyes and explain the real costs of roof repairs versus roof replacements:
Mr. Homeowner, your roof repair is going to be about $2,500.
With that, you’ll get about five more years out of your roof.
Now, a new roof is going to run you about $20,000. When many folks see that estimate, they’re going to say, ‘Hey, let’s go with the repair.’
They punt it down the line, thinking, ‘Well, it’s worth $2,500 to not have to spend $20,000.’
I get that.
But the truth is that there are rate increases of about 5% to 12% per quarter.
By the way, we want to show proof here. So, take your distributors’ rate increase notices, pulling out any private information, and share this with your homeowners. You can even fan out four to six of these to make your point. Once you do, here’s what you can say next:
So, there are all of these rate increases.
And these have been happening since about 2020.
That means that, in five years, that roof that I just showed you — and that you’re expecting to spend $20,000 on now — will be $40,000 five years from now.
So, if you choose to do the repair now, you are going to spend $2,500 today for that repair. Then, you’re going to:
- Get five more years from the roof.
- A new roof is going to be $20,000 MORE five years from now than it is today.
In the end, the choice to do a repair now will ultimately end up costing you $22,500.
THAT is the true cost of going with the repair versus going with a $20,000 roof today.
By the way, let me share with you our wildly affordable financing options. We’re seeing financing going up with rate increases. In fact, the Fed’s expecting even more rate increases this year.
So, Mr. Homeowner, I’m happy to do either the repair at $2,500 or lock you in at today’s rate for our roof with the greatest financing available.
Just so you know, if you do decide to wait, you can expect to spend about $40,000 on your roof in five years — and you’ll be subject to the financing rates at that time. That could mean more expensive financing AND a higher monthly investment.
It’s going to be more than TWICE as much in five years than it is today.
Now, knowing those options, which one would you prefer to take?
Would you like to go with the repair today or do you think it’d be worth it to spend an extra $22,500 in five years?
Again, I can lock you in today at the $20,000 roof with current financing rates.
So, which option is best for you?
That is how you communicate the true cost of repairs versus roof replacement. It takes time, but this is why I believe in:
- Ethical selling
- Giving people the best path forward
- Educating homeowners on every repair call, showing them an estimate to supplement the repair and giving them the chance to consider all of the options available
- Spelling out what will happen if they wait to replace their roof
Bonus Tip for Explaining Roof Repair vs. Replacement Costs
If you’re still resistant, imagine that your customer is your grandmother. What if your grandmother called a roofing company and found out that:
- The rates increase quarterly?
- The repair would only last five years?
- The $20,000 quote for a roof today would DOUBLE five years down the line?
Now, your grandmother’s on a fixed income in retirement, and she’s probably holding on to that $20,000 quote for five years. If the price DOUBLEs:
- She’s going to be shocked.
- She’s going to sit there thinking, I don’t understand. Why didn’t you tell me that the price was going to double?!?!
So, we need to think of this like we’re dealing with our very own grandmother. We would want what’s best for them, and that’s truly what’s best for most people.
And if it’s not, it’s up to them to make that choice.
That’s why I believe it’s our responsibility to present this information the right way. When we do:
- The answer is clear.
- You’re going to end up walking out of the house with many more full roof replacements, instead of repairs.
That’s a WIN for the homeowner because you just save them $22,500, and it’s a HUGE WIN for you and the company because you just turned a repair into a roof replacement.
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Thanks for joining me, and I look forward to sharing more with you in the next blog.