We've all heard it before: When you're about to make a major purchase, everyone says you need to gather multiple quotes, but why?
From hiring a contractor to buying a new car, quotes help you know what you're getting in terms of value, expertise and trust. Because of that, the Better Business Bureau (BBB) recommends getting at least three quotes to better understand what you're buying. To answer that question-why?-here are a few benefits and how they factor into big purchases.
Save on cost
By letting several providers bid on your business, you create competition which could result in better pricing. Businesses want to win your job, and with three or more quotes, you're better equipped to know the fair market rates in order to negotiate the best value. An easy way to find reputable businesses to compare is by using the free Get a Quote tool on BBB.org. That said, your cheapest option is not always going to be the best option.
Find the right fit
Getting multiple quotes is about more than the money-it's about making sure the company you hire understands your situation and can communicate and work well with you. After all, what good is a cheap contractor if they don't do the job correctly-or worse-if they cause damage to your property. Hiring a contractor who lacks the required experience could cost you a lot of money and stress in the long run.
Asking questions and gauging responsiveness during the quoting phase of your projects helps you determine which contractors are most knowledgeable about their industry, which ones offer services that are best tailored to your needs, who communicates with you most effectively and who will be the best overall fit to meet the needs of your project or purchase.
Vet trustworthiness
Getting multiple bids from reputable businesses is an important start. And remember, visiting BBB Business Profiles is a great place to start to easily compare different business reviews, ratings, history and company information. It's also a good idea to get referrals from each of your top choices and have a conversation with their recent customers to make sure they do good work and are trustworthy. Whichever way you choose to do it, gauging the trustworthiness of a company is easier when you have more to compare, and this process can guide you toward the most reliable and ethical vendors.
So, why should you get multiple quotes? It's about empowering you with the knowledge to make the best choice for your household. When you have multiple bids to choose from, you give yourself the ability to compare price, experience, reputation and perhaps most importantly, trustworthiness. If you're planning a big purchase in the near future, a BBB Accredited Business is a great place to start.