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Real Reno Bids.com

Submitted by: HomerArbitrage
Created: Aug 15, 2007, 11:25 am

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The Elevator Pitch

For Homeowners who are considering a renovation the Real Reno Bids.com is a tool that connects Homeowners to real renovators and contractors. Unlike the yellow pages our product allow Homeowners to get competitive bids from qualified sources.

The Idea

For Homeowners who are planning to renovate their property. Did you know that most Mortgage Insurers (e.g. CMHC) recommend that Homeowners get at least two, and preferably three, written estimates from renovators recommended to them to do work on their property? Real Reno Bids.com can provide the tools, every Homeowner needs to get real competitive bids from real licensed renovators or contractors for any property improvement project. Real Reno Bids.com goal is to connect Homeowners with professional renovators or specialized contractors to ensure their renovation project is a success.

Real Reno Bids.com will allow Homeowners to find reputable and licensed renovators and contractors in their geographic region. Real Reno Bids.com will provide a template for Homeowners to use to describe their renovation project, provide any relevant history on their property, and also upload photos or drawings to help describe their project. Real Reno Bids.com will connect the homeowner to 3 or more renovators or contractors who may specialize in the specific area or areas required for the project. Real Reno Bids.com will facilitate a property site visit and a web-based bidding process whereby the Homeowner will be presented with at least 3 written estimates of the renovation project costs. The Homeowner can then select the best bid.

Real Reno Bids.com will only connect Homeowners to reputable and legitimate renovators and contractors. Real Reno Bids.com will charge a registration fee to renovators and contractors who wish to register with this service and will check on an annual basis that renovators and contractors are certified, have liability insurance, WCB coverage and have no complaints pending from the Better Business Bureau.

Real Reno Bids.com will also allow Homeowners to rate their experience with selected renovators and contractors and provide references for future users.

Other Potential Revenue Streams include:
- Advertising and sponsorships
- Homeowner project brokerage fees
- Project inspection services
- Other contract services

The Logo

I thought of this idea when I was...

While looking for a used car on the web. I thought there should be a way for people to interact with specific vendors for projects via the web, especially projects that will cost significant $$$ like a home renovation.

Comments Posted

fossiloflife Posted: August 16, 2007, 6:00 am

wat about the quality of service?

HomerArbitrage Posted: August 16, 2007, 7:42 am

Good point. This is why this site will allow users to rate the performance of the selected renovator or contractor. Homeowners will also be given a template contract to use for their renovation project that will have a clause related to quality i.e. a % of the total cost of service will be held-back until the customer is satisfied with quality of the job or a satisfactory inspection is performed.

Thanks for your comment. I look forward to your vote if you think this business idea has merit.

fossiloflife Posted: August 23, 2007, 12:05 am

okays now have ma vote! but clarify one more thin... this happens in CH too... how will you deal wth bogus voting? i see contracts at stake ...so bogus votin will happen!

bcforrester Posted: August 23, 2007, 8:55 am

It would be cool if homeowners could upload photos of the site they want renovated (or a description) then all could be done online. Another valuable offering would be info or links to local regulations and consumer protection.

cRitter Posted: August 23, 2007, 11:02 am

i'm certainly wrestling with this issue on my end. kudos to u!!!

mashersmasher Posted: August 23, 2007, 3:38 pm

good but i think that the online world has gatherd a bad rep in regards to contractors

HomerArbitrage Posted: August 23, 2007, 6:51 pm

Thanks for your comments and please keep them rolling. The question of bogus voting or bidding. Our goal is to limit bogus bidders by charging contractors a fee to list through the service. I would hope they would not pay for the service unless they really could perform the service.

Also, we plan to check their insurance, WCB coverage etc. to make sure they are legit. From the customers point of view, they would rate their experience so if they were dealing with a bogus contractor they could report it to us and the Real Reno community.

Cheers,

HerbCSO Posted: August 23, 2007, 9:01 pm

I think this has been done already (contractors.com).

voxgirl Posted: August 23, 2007, 10:14 pm

great idea. even if it has been done, you could do it better. one element that should be used in screening potential contractors is the BBB - Better Business Bureau.

got my vote

voxgirl

HomerArbitrage Posted: August 24, 2007, 6:45 am

I viewed the contractors.com site. The difference with Real Reno Bids is to connect people with real contractors to receive direct bids for projects. I believe contractors.com just gives you names of contractors and its up to use to make contact and get an estimate which is really not much different than the yellow pages.

Also Real Reno could provide inspection services for projects to ensure customers are satisfied before releasing their final holdback $. I think this site can be more interactive, provide a better customer experience and be more successful than contractors.com.

Thanks for your comment.

ccozad Posted: August 24, 2007, 3:22 pm

I don't like the name. At first I thought this was a site local to the Reno, Nevada area. Maybe "Remo" for Remodel or maybe just use the entire word "Renovation"... Might affect you nifty little logo, but it is worth clearing up the confusion.

Other than the Reno confusion, sounds like a good idea.

PhilipH Posted: August 28, 2007, 8:45 am

I like this, but I think it's one of those ideas that will only work at a regional level - to start with at least. Once you have it up and running for contractors in your area, you can look at expanding it.

Hello!

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