Before we go any further on submitting a bid, make sure you are on your local mortgage servicing companies, asset managers’, banks’, and realtors’ radar. This way you are on their vendor list when they’re ready to hear bids. And if you haven’t already, check out our integrated partners for property preservation.
One of the big hurdles many property preservation companies face every day is properly submitting a bid at a job.
Two things can often go wrong when submitting a bid:
1. You overprice the job based on your potential client’s expectation
2. Your underbid on the work is not profitable. Or even worse, you lose money doing it.
When bidding any property preservation job, visit the property prior to quoting. Bring the following tools with you:
- Hard hat
- Business card
- Basic tools like screwdriver and drill if the property is boarded up
Take notes and photos of the job site. Using Pruvan’s property preservation app all your notes and photos are automatically organized onto your computer without any resizing necessary.
Keep a running list of equipment necessary and whether you’ll need to purchase or rent additional items. Plus, you’ll need to know which specific tasks you can or have to subcontract out based on your skills.
Taking that information from a survey, you can create your bid. You may also want to factor:
- your company’s level of experience
- the contractors you work with
- how fast you can complete jobs
- property’s location (what side of town are they on, if you need to do a clean out how close is to a landfill)
- the local market rate to create a winning bid
If your client has multiple properties that they need help with you may also decide to provide bulk pricing at a slight discount.
Timely bids are extremely important in this industry so when you return from visiting the site get your customer a bid quickly. That can be the difference between winning and losing a bid.
To help you quickly gather and organize survey notes learn more about our property preservation app.