REO Property Preservation Forum banner

1 - 9 of 9 Posts

·
Registered
Joined
·
81 Posts
Discussion Starter #1
As previously mentioned FAS will be implementing standardized pricing for bids to our Clients and national Vendor network. FAS has heard you speak about your increased requirements for certainty, accuracy and objectivity. We are pleased to provide innovative tools designed to mitigate risk and reduce the heavy expense of the foreclosure process.
Overall, our goal is to make doing business with FAS easier and even more objective. Such tools as standardized pricing will provide the following benefits for you:
Eliminate uncertainty and subjectivity concerning repair specifications and expenses
Deliver consistent pricing that reflects regional requirements and variations
Streamline the approval process Accelerate response times on bids Provide more specific and accurate labor and material costs Ease of doing business with FAS
Determination of Pricing

FAS consulted with two nationally recognized pricing data providers to initiate our own pricing lists, broken down into 26 unique regions or zones of the United States. We followed through with our own research based on FAS historical data as well as pricing with the major big box hardware supply companies to complete our standardized approach. We also selected our high volume vendors from five states, representative of the various regions of the United States, to engage with their feedback and insights until we were satisfied that the pricing reflected real world market conditions. Going forward, their comments and input and FAS’ ongoing research will determine if there are any appropriate adjustments to our pricing strategy. It is our intention to review and update pricing Quarterly. This may include, increasing items, scope, and zones.:laughing::whistling:laughing:

so if you are supposed to use their input for bids, why would anyone need to do a bid? Just send a work order out? no?
 
I

·
Guest
Joined
·
0 Posts
it seems like what FAS didn't take into effect is the cost of a company to use emp to do the work and might assume everyone subs out work or company owner does it
 

·
Contractor
Joined
·
486 Posts
IdahoProperty said:
it seems like what FAS didn't take into effect is the cost of a company to use emp to do the work and might assume everyone subs out work or company owner does it
It doesn't matter whether their your employee's or not... Cost's are Costs. It cost you so much to be in business (overhead), it costs you so much to do a project or task, and depending what you want your profit margin to be that the price of a job. I got the same from FAS... some look good some don't.
The way it looks to me... is a contractor is not providing a bid or proposal... just providing them with photo's and units of measure (UOM) for area's requiring repairs...
They've low-balled prices to their client's and now they have to live with it... and to make-up their short-falls...they're gonna buy-this work out at the expense of contractor's who don't know any better, or are starving for work. Kinda playin Russian roulette... especially if they have deadlines... Used to Konover Construction do it in the real construction world here in the North East.
 

·
Registered
Joined
·
2,016 Posts
This is getting ugly. If someone told me FAS was doing this 3 years ago, I would have laughed at them. I would like to know what (2) estimating software they were using. This makes no sense to me. There's 8 different pricing software. Heck, you could take exactamates remodeling lists and measure it up against PRM and you'd see a huge difference.
 
M

·
Guest
Joined
·
0 Posts
LOL too funny.FAS also says that I can find a plumber for $75.00 hr.Not even close and if I do I tack $75.00 on top.Its all too funny.

The new FAS Kelly BLUE BOOK.
 

·
Registered
Joined
·
2,016 Posts
MKM Landscaping said:
LOL too funny.FAS also says that I can find a plumber for $75.00 hr.Not even close and if I do I tack $75.00 on top.Its all too funny.

The new FAS Kelly BLUE BOOK.
Not too long ago they were "allowing" us $175 for a professional bid. Man, the writings on the wall.
 
F

·
Guest
Joined
·
0 Posts
FAS has been a bottom tier company since inception. This shouldn't be a surprise.

If I'm reading this correctly, they are going to tell you what your bid amounts are? And if you don't like them, what is the consequence?

I'm glad I dont deal with this. The industry has enough quirks already without dealing with this.
 
1 - 9 of 9 Posts
Top