That's a great trip about not looking at the bottom number as you fill in your line items. I have definitely found myself adjusting things lowers on a bid because "I think" the bottom number should be at a certain level.
Not a lawyer either but worked some great ones. My experience says you can do most anything in a contract as long as you put in concise, understandable language that both parties agree to. Just to be fair though, remember the client deserves consideration if materials prices drop too. In 40 years experience negotiating and managing contracts I saw both (but usually increases). The key is open, honest, and frequent communication.
I just went over my contract that I paid a lawyer to draft for me, I added a few things and changed a few things, like my pictures are my property and can be used for advertising. I just started using a retainer in my business and locked in a job for this November ( it is currently April 2021) I will get a 50% deposit October and get that job started. But that pre-construction agreement would be really cool to see. Learned so much from the podcast thanks for everything
Thanks for the great content Nick. An avoidance of looking at the total "bottom line" price for an estimate while you're in the process of compiling the estimate is absolutely great advice. I can fall into the same trap of seeing that number grow incrementally and being influenced by it while I'm still working on the numbers. Also would love a chance to see our your precon agreement compares to our own. Thanks for the willingness to share it!
Still watching the video but the knowledge you sharing is GOLD, I tried to figure out this for years, and always wondered what’s the proper way, thanks nick one of my favorite UA-cam Chanel
In my market, we spend most of our time in the pre-con stage. Builders will go through the interior design process prior to the permit application and define lighting, fixtures, and flooring so that their fixed price (+ contingency) is as close as possible (they often have placeholders if the clients can't make selections). If they lose the project over the pricing, they make no money on the pre-con, simply just covering wages and time (barely). So there's a big incentive to find the middle ground, be profitable but also fair to the clients so they secure the project. I know a lot of contractors that are proud of their batting percentage when it comes to this. Great video!
The magical and mystical "Pre-Construction Agreement" all the heavy hitters on social throw this around like its nothing, but they never tell you what this silver bullet actually says, or how they get customers to sign this legal Kryptonite. I will say its great for "tire kickers" one look at the retainer and they're gone!!!!
My father and I run a construction business together and a lot of our work is cost-plus since we do mostly remodeling and as you said; there are unknowns. Comparing our contracts to yours would be a big help!
I would love to see the pre construction agreement I’ve been running into this conversation on some of recent initial meetings with customers this past week on what’s the next process moving forward after telling them yes their project is doable but not wanting to put a bunch of my time into the design process with them without sometime if deposit and signed contract. Thank you for this video it couldn’t have came at a better time. Looking forward to see it. Thanks in advance
Yes sir 🙌 Please share your pre construction contract as a idea starter for us . Our company has a lot of problems on pre construction because we don’t have a clear protocol and path for pre construction communication
Nick, greatly appreciate your offer to potentially share your pre-construction contract. We are a high-performance builder in Central Illinois and have run into issues with the pre-construction phase a number of times. Your content is incredibly helpful and I very much appreciate all you and your company puts out!
I’m interested in the pre-construction contract. As a self employed and smaller scale contractor it’d help me to help my customers understand the expectations and for Me how to format a contract
Awesome video, extremely informative seeing that contract would be very helpful. Also the line item form you use I’m assuming it is some sort of software?
Hi Nick, very interested to have a look at your pre con retainer contract if you're still that way inclined. I'm a residential renovation building contractor in Australia and I have found your content incredibly beneficial as I elevate the professionalism of my business. As a career carpenter I've found the transition a little confronting. Thanks again for all your experience and your willingness to share!
Hey Nick, love your channel and have been following for over a year. I run a high end remodeling company and love your insights. If you would be willing to share your design agreement would be awesome! We're always looking for ways to refine our process, starting with our design phase.
We’d be grateful to get a look at your pre construction agreement. Appreciate you Nick and everything you do for our industry.
That's a great trip about not looking at the bottom number as you fill in your line items. I have definitely found myself adjusting things lowers on a bid because "I think" the bottom number should be at a certain level.
I do the same thing.
Not a lawyer either but worked some great ones. My experience says you can do most anything in a contract as long as you put in concise, understandable language that both parties agree to. Just to be fair though, remember the client deserves consideration if materials prices drop too. In 40 years experience negotiating and managing contracts I saw both (but usually increases). The key is open, honest, and frequent communication.
If you are willing to share, I would love to take a look at it! We generally work as cost-plus for most of our projects as well.
I just went over my contract that I paid a lawyer to draft for me, I added a few things and changed a few things, like my pictures are my property and can be used for advertising. I just started using a retainer in my business and locked in a job for this November ( it is currently April 2021) I will get a 50% deposit October and get that job started. But that pre-construction agreement would be really cool to see. Learned so much from the podcast thanks for everything
Thanks for the great content Nick. An avoidance of looking at the total "bottom line" price for an estimate while you're in the process of compiling the estimate is absolutely great advice. I can fall into the same trap of seeing that number grow incrementally and being influenced by it while I'm still working on the numbers. Also would love a chance to see our your precon agreement compares to our own. Thanks for the willingness to share it!
Still watching the video but the knowledge you sharing is GOLD, I tried to figure out this for years, and always wondered what’s the proper way, thanks nick one of my favorite UA-cam Chanel
In my market, we spend most of our time in the pre-con stage. Builders will go through the interior design process prior to the permit application and define lighting, fixtures, and flooring so that their fixed price (+ contingency) is as close as possible (they often have placeholders if the clients can't make selections). If they lose the project over the pricing, they make no money on the pre-con, simply just covering wages and time (barely). So there's a big incentive to find the middle ground, be profitable but also fair to the clients so they secure the project. I know a lot of contractors that are proud of their batting percentage when it comes to this. Great video!
The magical and mystical "Pre-Construction Agreement" all the heavy hitters on social throw this around like its nothing, but they never tell you what this silver bullet actually says, or how they get customers to sign this legal Kryptonite. I will say its great for "tire kickers" one look at the retainer and they're gone!!!!
My father and I run a construction business together and a lot of our work is cost-plus since we do mostly remodeling and as you said; there are unknowns. Comparing our contracts to yours would be a big help!
I'm trying to scale up from 1 man band small projects and would love to see a construction contract if possible and how it's applied to larger jobs
Thanks for another great video. Really good advice... make sure builder expectations = client expectations.
I would love to see the pre construction agreement I’ve been running into this conversation on some of recent initial meetings with customers this past week on what’s the next process moving forward after telling them yes their project is doable but not wanting to put a bunch of my time into the design process with them without sometime if deposit and signed contract. Thank you for this video it couldn’t have came at a better time. Looking forward to see it. Thanks in advance
Please the precon contract would be a valuable tool if you could share.
Yes sir 🙌
Please share your pre construction contract as a idea starter for us .
Our company has a lot of problems on pre construction because we don’t have a clear protocol and path for pre construction communication
Nick, greatly appreciate your offer to potentially share your pre-construction contract. We are a high-performance builder in Central Illinois and have run into issues with the pre-construction phase a number of times. Your content is incredibly helpful and I very much appreciate all you and your company puts out!
Would love to have you share the preconstr.agreement, appreciate your awesome channel!
I would really appreciate seeing your pre-construction agreement.
That wouls be great if you could share the preconstruction contract!
I’m interested in the pre-construction contract. As a self employed and smaller scale contractor it’d help me to help my customers understand the expectations and for Me how to format a contract
Would love to see the preconstruction agreement, thank you for all of the content!
would love to see the pre construction agreement
Definitely would like too see what your pre construction packet looks like
Would be good to see your role defined by pre-construction contract!
Awesome video, extremely informative seeing that contract would be very helpful. Also the line item form you use I’m assuming it is some sort of software?
ua-cam.com/video/347UTxP7NOE/v-deo.html
Hi Nick, very interested to have a look at your pre con retainer contract if you're still that way inclined. I'm a residential renovation building contractor in Australia and I have found your content incredibly beneficial as I elevate the professionalism of my business. As a career carpenter I've found the transition a little confronting. Thanks again for all your experience and your willingness to share!
Sell access to your contract, I'd definitely be interested in taking a look at it!
It would be awesome to review your contract if you’re willing. Thanks for the high level discussion.
It would be very helpful to see your precon agreement. Your videos are excellent! Thank you for sharing. I'm a cost plus builder.
would love to see your preconstruction contract.
ua-cam.com/video/347UTxP7NOE/v-deo.html
Great content - would love to look at the contract if you're still considering sharing it!
ua-cam.com/video/347UTxP7NOE/v-deo.html
Hey Nick, love your channel and have been following for over a year. I run a high end remodeling company and love your insights. If you would be willing to share your design agreement would be awesome! We're always looking for ways to refine our process, starting with our design phase.
Nick, I’m a big fan of your work. If you would share that contract that would be amazing! I have a design build company in Seattle.