The current housing market, as of this writing, is one of extreme demand and low supply. Rumor has it that in most parts of the USA, there is only one house (or housing unit) available for every three families that want one. In some parts of the country–that number is much more drastic. With the past ten-year downward trend in home building now meeting the historically low mortgage rates, on top of coming off the COVID pandemic, there is a flurry of moving activity with only limited places to go and that is driving home prices to sky-high levels. Basically what that means is that home buying and people moving equally contractor opportunities.
All types Of Contractors Benefit
It’s not just homebuilders and general contractors that benefit from the surge in housing purchases. Many people find themselves completely priced out of the market due to the rise in home pricing. For these folks, it’s home improvement that will serve as an alternative to a home purchase. Home improvement contractors see the surge in demand for their services as increasing the value of ones home can be important as a long term investment.
While every niche specalist has their phones ringing constantly, there is still only 24 hours in a day. Within that day there are only so many clients that can be served. What does that demand result in? Higher pricing. While you can’t add more hours in a day, what you get paid for each of those hours is dictated by your level of experience and expertise. While your pricing should always remain fair and competitive, if you can justify higher pricing for reasons that you can prove to the potential client, then by all means you should do so.
Competition In Contracting
It’s not all good news for contractors, though. Historic demand causes historic scrambles to get in on a piece of the action. “Contractors” can be a loose term and not all are licensed and insured professionals. Personally I have seen quite a few “installers” and “handymen” pass themselves off as licensed and bonded contractors. Not that installers or handymen aren’t necessarily contractors with full credentials and experience, but unfortunately there is a gray area when it comes to who must have legitimate credentials and who does not.
But licensed or not, nothing lasts forever. Like for all things, eventually demand will slow down and the phone will not ring as often. When left with a glut of construction professionals, the area they operate in will dictate who stays in business and who goes under. Having a firm grip on business, costs and labor are always important, but possibly even more important is client management.
Client Management more important than ever
It is never okay to leave a potential client hanging–or worse, unanswered. When bookings are plentiful, it’s all too easy to blow off a call about a smaller job or a job in an area that a little out of the way. No one says you HAVE to accept every job posed to you, but you do HAVE to be courteous and professional about rejecting a potential client. Never ever say that this person will never be my client. That’s the first mistake in business. Every potential client is a resource to a job or to a recommendation for a job. Your taking the time to call or email them back is not only courteous, but tells the person that you cared enough to speak to them–maybe even give them a recommendation to another affiliated contractor who could help them out.
Regardless of how you perform your customer service, the first official-business impression you make on a customer will be with your estimate/proposal. That’s where Botonde starts becoming valuable in keeping your clients managed and your business organized. Pulling together an estimate within 24 hours has become the gold standard that many contractors unfortunately do not meet. With the power of Botonde easily helping you build your estimate and firing it off to your potential clients in record time is valuable enough. The fact that the estimate then generates your takeoff and automatically builds your materials purchase orders and labor costs, makes Botonde the perfect engine for client, job and business management.
Job finished? Botonde then shoots an email off to your client looking for a review on the job that you did. Those reviews then get posted on your Botonde contractor profile page for other potential clients to see. No lead fees. No roundabout ways the client has to contact you with. Just simple, effective and safe business and client management.
Good contractors have become more important than ever to the housing market. Get paid what your skills are worth (but be sure you can prove it). Build relationships with every potential customer, and manage your estimates, takeoffs, labor, purchase orders and get new customers with Botonde. Sign up for your FREE Botonde 30-day trial online or Download the Botonde App for your IOS Phone or Learn More.