I’ve recently participated in several Seattle market outlooks.  As we predicted, in 2008 and beyond, a home remodeler’s business success and growth will depend on how well prepared they are for increased competition, lengthening sales cycles, market uncertainty and lower levels of consumer confidence. Right now, because the area continues to see appreciation in existing home values, remodelers are well positioned to take advantage!

If you are a remodeler and have not yet developed your 2008 strategy, get started.  Make sure you have these bases covered:

• Have strong referrals and testimonials.

• Aggressively roll out a referral program to drive new work.

• Be prepared to share what you know about the existing market conditions; specifically, how your service is in the best interest of the client. Become familiar with the appreciation history for your area, as well as statistics behind costs of moving, return on upgrades at time of sale, etc.

• Welcome new competition while approaching each bid with the realization that new-construction contractors are attempting to bid the project like a new-construction job (you know that any attempt to do this will result in a money-losing bid!). Be diligent to explain to the customer why it is not in their best interest to take undervalued bids.

• Be the expert. Your prospective clients have all heard the news about market conditions and will be looking for guidance from someone with their best interests in mind.

Your professionalism, expertise, and a passion for providing the best possible product to your clients will be your keys to success in 2008.