Is Home Depot taking your business? - REO Property Preservation Forum
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post #1 of 13 (permalink) Old 01-21-2012, 12:39 PM
Clean Sweep REO
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Is Home Depot taking your business?

Anyone else in CA, or any of the other states that have been using a trial program with WF, and BAC? I have noticed that our business has dropped dramatically due to Home Depot getting the contracts. Sounds like they are the "new national". Around here they are doing the rehabs, trashouts, etc.... The bids that I have seen come accross have been several thousand higher than mine, and they still win. Then the RE agents are complaining about the "shoddy" work that HD is doing, on top of being over charged. They also talk about how much of a PITA it is to deal with people in GA in order to get the contractors back out to the property to get things fixed. Makes no sense to me...
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post #2 of 13 (permalink) Old 01-21-2012, 03:43 PM
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definetly something going on,just cant put my finger on it, work has been dead so long,gonna have to read manual when i do get a job so i can do it,lol
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post #3 of 13 (permalink) Old 01-21-2012, 07:48 PM
FremontREO
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Its taking longer than what I was told but in Dec 2010 the contracts were signed by 3 of the largest Banks to have Home Depot start doing all repair work. This includes the carpets, cabinets, roofing etc etc. Some States the HD contractor will be doing the secures and grass cuts as a test program.

The instructor that told me this was from VA and was a hired as a trainer for the program. He was 1 of many that travels to the HD Stores to train the crews for the P&P work. I (and others on CT) did not fully believe this and if they did implement I forecasted it would fail. Out of curiosity I called the HomeDepot Contractor Call-in center and asked about a foreclosure contractor division and the lady said "yes we have implemented servicing of foreclosed homes and if I wanted to sign up I had to give my zip code". I gave them a Des Moines Zip and this will not be implemented here till 2012 (this year).

We'll see.
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post #4 of 13 (permalink) Old 01-21-2012, 07:52 PM
essrmo
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that was their agenda from day 1.
Quote:
Originally Posted by Clean Sweep REO
Anyone else in CA, or any of the other states that have been using a trial program with WF, and BAC? I have noticed that our business has dropped dramatically due to Home Depot getting the contracts. Sounds like they are the "new national". Around here they are doing the rehabs, trashouts, etc.... The bids that I have seen come accross have been several thousand higher than mine, and they still win. Then the RE agents are complaining about the "shoddy" work that HD is doing, on top of being over charged. They also talk about how much of a PITA it is to deal with people in GA in order to get the contractors back out to the property to get things fixed. Makes no sense to me...
post #5 of 13 (permalink) Old 01-21-2012, 07:58 PM
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Late 2010 is when we started seeing business get slower in certain aspects. Then we started noticing that other areas of service were getting slower, and agents had been telling us that HD started doing that work as well. From what I can think of, is that maybe there is a deal going on where HD gives a kickback, or gives exclusive financing to one bank or another, in exchange for work. Win-win for both parties. HD gets work, bank gets new CC acounts and the interest from it. Just my speculation, who knows. Seems that the banks would rather spend the least amount possible, instead of paying nearly double in some instances.
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post #6 of 13 (permalink) Old 01-21-2012, 08:42 PM
FremontREO
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CleanSweep,

I agree but.....I don't thing WE will ever be seeing what is invoiced to the bank...Remember the Service Companies are being excluded from this arrangement (big savings).....

MY BIG complaint is this........there are a lot of "day laborers" in the H.D. parking lots that are taking your jobs......
post #7 of 13 (permalink) Old 01-22-2012, 08:15 AM
mbobbish734
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Quote:
Originally Posted by FremontREO
CleanSweep,

I agree but.....I don't thing WE will ever be seeing what is invoiced to the bank...Remember the Service Companies are being excluded from this arrangement (big savings).....

MY BIG complaint is this........there are a lot of "day laborers" in the H.D. parking lots that are taking your jobs......
You call them day laborers, I call them illegals .
post #8 of 13 (permalink) Old 01-24-2012, 11:55 PM
scutrman
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I just got a request for a counter bid in Ca. Some of the things they want to install/replace are still on the property???
post #9 of 13 (permalink) Old 01-25-2012, 04:28 AM
greg24k
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That don't surprise me at all, and why they win with higher bids only shows that there is so many hacks out there and unlicensed contractors, not to exclude some licensed ones, who do shady work, don't return for call backs, don't charge enough and leave the job, etc...
So, the HO are fed up and they want things done and done right and they know that Box stores not going anywhere, so they're going there and they don't mind paying more, because they have a piece of mind... At the same time not realizing, that the same hacks who did this to others, now cannot get as many jobs as before, because of that, now work for Box stores and do the same thing (well some of them, not all) as long as they read instructions
post #10 of 13 (permalink) Old 02-07-2012, 12:56 PM
dto
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I bid an interior painting job on an reo, my bid was $2200. The client said home depots bid was $11,000. They got the job. 5 times the pice. I does'nt make any sense but thats a true story. Somebody's getting kickbacks or something.
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