When A Low Quote Is Too Good To Be True
Getting a great deal is a great feeling. And when you come across an amazingly low bid while getting estimates for a cabinet refinishing, wall painting, or concrete coatings project it can seem too good to be true! Unfortunately, very low bids often are a red flag vs. something to celebrate, and often result in being stuck with a sub par product. So how do you determine the legitimacy of a quote for your custom coatings project?
We put together three key questions to ask when receiving bids for a coatings project. Getting the answers to these questions will help you determine what is a realistic quote for a quality product vs. a quote that is too good to be true.
FIRST QUESTION: What are the regional averages for the project you are getting a quote for?
It is difficult to know if the bid you receive is too high or alarmingly low if you are not sure what the project typically costs. And knowing those average costs for your specific region is key to choosing a quote that makes sense. What it costs to refinish cabinets in Los Angeles, CA is going to significantly differ from what the same project costs in Fargo, ND. So making sure you not only find the average costs, but the averages specific to your region, is key.
Once you have a feel for those regional averages, now it is time to compare the quotes you receive with those average amounts. If a quote is falling within the average range it is a viable option. If it is significantly higher than the average, make sure you ask plenty of follow up questions to better understand how the company got to that higher number. And if the quote is much lower than average, again, find out why. Understanding how the company got to the numbers in the quote provided is critically important when weighing various bids and ultimately choosing who to work with for your coatings project.
SECOND QUESTION: How detailed is the quote?
This is a great follow up to the first question, as understanding the details of the quote will help you understand how the company landed on the numbers they are providing. A line item quote is ideal so you can see the breakdown of what is included and how each of those items plays into the total dollar amount. Simply getting one total doesn’t tell you much about what exactly you are getting, and seeing a breakdown of the bid will help you understand why the total is what it is.
Seeing the details of the quote will help you when comparing bids from different companies. If one company’s material costs are significantly higher than another, you are now armed with specific questions to bring to both. If one company is using a significantly higher quality product, thus driving up that material cost, ultimately it will be worth paying the extra money now vs. having to touch up and redo a job done with a sub-par product just a few months after paying for the initial project. Knowing exactly what is included in your quote will allow you to make educated decisions about value and ultimately who to work with.
THIRD QUESTION: What are you getting for your money?
Having someone provide you with a custom coating in your home is about more than the monetary cost. It is about having someone you trust inside your home. It is receiving expert advice on paint colors/products. It’s knowing that the company has a schedule they stick to and won’t leave you with an unfinished product for weeks on end.
Sometimes a higher cost means you get a higher value. Other times it may not be justified. Sometimes a lower cost really is a good deal. Other times it will result in an inferior result and a terrible experience. By better understanding the quotes you receive and going into the bidding process prepared with the knowledge you need to acquire and the best questions to ask will allow you to make the best possible decision in who to ultimately work with.
Coupling a quality result with a price that makes sense is key to enjoying both the process and project when it comes to working with a custom coatings company. Trusting your home to someone else, no matter how big or small the project, is a big step. Arm yourself with all of the knowledge you need to trust the right team. If you have any further questions on this topic, please don’t hesitate to contact us! And to take a look at how we operate and our proprietary AUTHORICOAT process, click HERE.