September 18, 2010
Today we had a homeowner that our consultant quoted $20,000 for a bathroom remodeling project. The client balked, then stated he felt that the cost should be half that or about $10,000.
Here is the ensuing dialog:
consultant: "What do you base that amount on?"
homeowner: "I had a quote from another contractor for $4,000."
consultant: "Would you be confident that this remodeler would do a good job, be reliable, and you would be satisfied with his work for the $4,000 cost?"
consultant: "Would consider hiring him at all."
consultant: "Then why does his quote qualify to be a measuring stick of what a quality bathroom remodeling project should be?"
homeowner: "I just figured if he was $4,000 you should be about $10,000...or less."
While that was the actual conversation, we would have enjoyed saying:
"Please hire that remodeler for the $4,000. Make sure to keep a journal and take photos and video throughout. That way we could pay you $2,000 for the rights to use your experience as a don't let this happen to you marketing campaign and presentation tool. Then you can brag to your friends that you got the job for half the remodeler's price. We're confident that your friends will undoubtedly tell you that at $2,000 for the investment for the result and experience that you terribly overpaid."
Or we could have asked:
"If there was a $4.00 maggot infested piece of meat and a $20.00 prime rib to choose from would you say the prime rib should be priced lower because of the rotted steak price?"
Oh, by the way, this morning, before the appointment, the homeowner purchased over $7,000 in fixtures. It certainly makes you wonder.