Comparing quotes

Comparing Quotes – What do you compare?

When getting quotes, it’s usually standard practice to get at least 3 quotes. But now that you have 3 quotes how do you compare them? Not all quotes are created equal.

There are generally 3 main areas you need to compare with all your quotes to work out which one to choose.

3 Main factors to consider when it comes to quotes:

Comparing quote price1. The price

The price is always going to be a big factor but you really need to consider if the cheapest is going to be the best option for you. Especially if one of the quotes is significantly cheaper than than the other quotes, you need to be asking why.

Also check that the price is inclusive of everything that you require in the job. For example. One tiler may not necessarily supply a floor waste where another one does.

Compare quote scope of works2. The Scope of Work

Does it include the full work required. Will you need to prepare before hand or have someone else finish off the job? Does the quote include or exclude the cost of any extra machinery, products or time allowance for travel?

The scope of work is critical to the flow of a project and you need to be clear on what your trades have quoted and what work needs to be covered by someone else to keep the schedule moving. Do all quotes include the same scope of work and if not, what is the difference in both cost and time to you?

Quote Terms and Conditions3. The Terms and Conditions

Make sure you read the terms and conditions thoroughly and consider any factors that are also going to impact both the cost and time on your project. Some quotes may only be good for a certain amount of time and may also require part or full payment upfront.

Remember, you really want to be comparing apples for apples. If the quotes are not the same in both the scope of works and conditions, then you need to get more information in these areas before you can then accurately compare the pricing.

Have you had trouble comparing quotes or need help working out your quotes? Post your response below.

Until next time…

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Chicks and Mortar – Women in Property

 

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