Prospects for the homebuilding industry are bullish for 2018, with a 7.9% projected increase in single-family starts throughout 2017, according to NAHB. Beyond a rising housing market, low unemployment, and a booming stock market that has rapidly grown buyers’ savings, there is a remarkable growth catalyst in our industry that deserves credit.
Creating a better customer experience all starts with remembering the most important part of any construction project—the process for the customer. Many in the construction industry tend to forget about the process, and focus on the finished product, but the process is truly where the experience lies.
It has been reported that 2017 was a vigorous year for the new home construction industry. CNBC reported, November statistics single-family homebuilding and permits in the U.S. climbing to highs not seen in 10 years. Unfortunately for builders, the market for new homes has returned without the workers to build them.
The holiday shopping season was dominated by Echo and Dot—the smart speakers sold by Amazon and Google, respectively. A whopping 12 million were projected to sell in Q4 2017, which means homes in 2018 will be a whole lot smarter.
For the construction industry, 2017 has been a busy rollercoaster of a year. But before the dust settles on 2017, contractors should spend some time reviewing lessons learned and create baselines and benchmarks for an even more profitable 2018.
No matter your size, many contractors struggle when it comes to estimating and focusing on the best, most profitable work. Estimating is rife with obstacles—from rushing to bid work to not being selective enough in the bidding process. But avoiding the pitfalls of estimating isn’t about working harder, it’s really about working smarter.
Hurrying—it’s an easy trap to fall into for contractors. You rush from job to job without slowing down to take stock of what went right or wrong on the last project. It may seem rather tedious to review the fine details of the project just completed, especially when you’re off and running to the next one.
You’ve probably heard a few scary tales of contractors nearly losing all of their digital data in a flood or fire. Or maybe your business has had a few close calls with data exposure. While ransomware attacks may seem rare, who wants to risk an entire business on one false click, oversight, or mistake?
Estimating is one of the most important jobs in construction. Demand for well-qualified estimators continues to grow because construction is on an upswing. Estimators are essential for companies to capitalize on the growth in construction.
Paul Messner, cofounder and CEO, Estimator360, www.estimator360.com, and principal owner and president, Messner Builders, recently sat down with Constructech to discuss what needs to change in regards to estimating in the construction industry and how new technology can help.