How does bidding work?
First, some background: contractors are interested in signing as much work as possible with minimal effort in the least amount of time. Some use estimating applications to cast the largest net for only a few fish, so accuracy does not matter.
The free estimate is the source of the problem because it suggests that the contractor’s time is not valuable and invites consumers to waste it.
This strategy leads to bids that do not reflect the final cost of the work, which is why conventional wisdom recommends adding 15% to 20% to cover contingencies. The homeowners pay for these omissions when the contractor has all the control because he has more money from them than work into their projects.
iCornerstone uses its database of past projects as a guide to current pricing and can spot trends. Bidding is fair and random and consists of only one round to prevent bidding wars and a race to the bottom.
All contractors see each other’s bids and know their identities, which is a common practice on public construction projects and consistent with iCornerstone’s requirement for transparency and accountability.
The contractor signs a standardized contract with you after visiting the project site and confirming that the specifications accurately describe the work or other conditions. This method saves you and the contractor considerable time.
The bids iCornerstone develops on your behalf are the end point of costs, not the beginning.