Innovision Commercial Property Consultants offers unique and flexible consulting services which can be tailored to fit the needs of your HOA, Condominium Association, or Commercial property needs. We know all Associations, Board of Directors, and Management Companies need help now and then to effectively assess their construction vendor management. That is where Innovision fits in! We will work closely with you to incorporate the necessary steps to ensure your Association, Board, or Management Company gets the best construction vendors for the best price.
Innovision’s 12 Steps for Effective Vendor Relations Consultancy:
We spend time to understand your needs and expectations, current operations, what you think is missing, and what you’d like to change.
We review your existing vendor contracts so we fully understand your current position. We prepare detailed charts, graphs, and spreadsheets related to these construction vendors in order to analyze your current portfolio.
Once we have an understanding of your needs and your current construction vendors portfolio, we prepare a specifications package for each vendor trade, be it a daily, weekly, monthly, annual or time spread service provider.
We place the specifications package out for bid, whether it is to your existing vendors and new vendors or only new vendors. This is your choice. We perform a due diligence of qualifications of vendors prior to allowing them the opportunity to bid. Only contractors who are properly licensed, insured, and bonded will be allowed to bid.
Upon distribution of the specifications package, we hold pre-bid meetings with each vendor type in order to confirm the vendors understand the bid package and the site specific conditions.
We provide the potential vendors with a solid due date that they must submit their “uniform” bid pricing list to be considered.
We review and evaluate each bid for accuracy, uniformity, and pricing valuations.
We prepare a comparative bid spreadsheet for review and evaluation.
Next we will determine FMV (Fair Market Value) Value Engineering pricing for each vendor market. This will enable us to perform our next step, to negotiate each vendor down to the best price. Note, we do not say lowest price, as the lowest price does not guarantee the best service. Determining the median FMV allows us to understand the breakpoint which separates the best price and worse price. This is a very intricate component of the process because talking a vendor down too low on a price means the vendor will not perform or try and cut corners, neither of which benefit you in the long run.
We prepare a final construction vendor pricing spreadsheet along with our recommendations of vendor choice. We submit and review our findings with you. The final choice is yours.
Our next step is to work with a lawyer who specializes with vendor contracts in order to draw up the final vendor contract. This step is the most important because it sets the standards of the relationship between you and the vendor. We coordinate for you and execute the contract with the vendor.
We are not done yet, as a component of our customer relations, we will visit with you and the construction vendor periodically to make sure the relationship is working smoothly.