Property Preservation Bidding Procedures
Bidding jobs correctly and completely should be a top priority for professional contractors. Quite often, more than one bid will be obtained and compared. The contractor that is able to give the bid reviewer a visual image of the true situation at the property is the contractor that more than likely will be awarded the job.
Contrary to popular belief, the deciding factor is not always price. In fact, the bid that outshines the others gives the reviewer the impression that the other bidders are either sloppy, blind or just plain out don’t care; all of which are warning signs of trouble to come later – rebids, shouting matches, etc.
Not every contractor can submit a perfect bid when they first start their business but you should be able to recognize your increasing expertise as time goes on. I recommend that you review past bids on occasion to see if you recognize improvement in bidding. If not, you need to take a serious look at your bidding procedures because you are definitely loosing money by letting other contractors submit a superior bid. By superior I mean the bid should be better looking, more comprehensive and overall have a more professional look and feel than bids submitted from other contractors.
If you will, picture a remote real estate investor three thousand miles from you. You are a field agent assigned by this investor to inspect properties in order for a decision to be made to buy or not buy a property. Picture also that you are allowed to submit only written field reports – no pictures and no telephone conversations. When your reports, bids and any other written documentation you submit is good enough to allow this real estate investor to make buy or pass decisions, then your field reports are where they need to be and you will actually find yourself with more work.
A contractor in the field really has no idea who all will see their bids and reports but even if your bid or report is molded and squeezed into someone else’s system, the output from that system can contain no more than what you reported. In fact, your bid or report will probably be sliced and diced to make it much smaller and less wordy so it can be passed up line to their client or an investor.
Be sure that you have developed the ability to show and correct and complete picture even after all the “and’s, the’s, but’s and such” have been removed.”
The first review of your work will be by the company that sent you the work order so let’s discuss RTV.
RTV is slang for “Return To Vendor.” Any of the work you submit to a company can acquire RTV status for any number of reasons. The most common reasons for having work returned as RTV is lack of substantiation such as too few pictures, inadequate descriptions, lack of required photographs, dark or blurry photos, etc.
RTV is used as both a noun and a verb. An example as a noun “That RTV is in processing now”; and now as a verb: “Better go ahead and RTV this one.”
Each company will have their way of doing things and therefore have their own list of reasons for returning your work. Here are some of the top reasons that contractors’ bids are RTV (returned):