Some Thoughts and Common Wisdom Regarding: ‘Going With the Low Bid’
Author: J. Jerrald Hayes; Published: Apr 21, 2007; Category: Business Philosophy, Estimates, Working With a Contractor; Tags: None; No Comments
“It is unwise to pay too much, but it is worse to pay too little. When you pay too much, you lose a little money—that is all. When you pay too little you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do … If you deal with the lowest bidder, it is well to add something for the risk you run, and if you do that you will have enough to pay for something better.”
— John Ruskin (1819-1900)
Collect bids until you find contractor (not a bid!) you like!
— Author Unknown
The Remodeling Bill of Rights for Client & Contractor
Author: J. Jerrald Hayes; Published: Apr 12, 2007; Category: Business Philosophy, Working With a Contractor; Tags: None; No Comments
Contractors are entitled to:
- Know what the budget range is up front
- A complete project profile
- A written contract
- Have their time valued – client delays cost contractors money
- Prompt payment
- Manage the process without being micro-managed
- Make up for their mistakes
- Be paid for consultative work or ideas
- Be told when they are out of the running for a job
Clients are entitled to:
- Good estimates
- Honest, constant communication
- A written contract
- Immediate notification of delays, problems, and extra expenses
- Pay only for work authorized
- Audit hours if paying by the hour
- Honest feedback regarding the progress of their project
