The Binding Estimate
You are starting your moving company! Good for you! Time to learn some of the moving terminology you’ll need when talking with clients. Below we will cover what is a binding estimate, how to provide one and why some clients would be more inclined to choose it
What is a Binding Estimate?
A binding estimate is more than just numbers on a page. When your client is planning a move, having certainty about costs can make all the difference. So, what exactly is a binding estimate?
A binding estimate is a guarantee. When an estimate is binding, it means that it is binding for the specific goods and services itemized in writing and shown on the Order for Service. If clients decide to move any additional items or if they request additional services, the final price will not change since the estimate was “binding”. The client will only be charged the price that they agreed on with the moving company, you, for the goods they mentioned when they were provided a quote.
That means no hidden fees, no surprise charges – just transparency and trust from the gecko.
Why Do Clients Choose a Binding Estimate?
Financial Predictability
Considering moving is one of the most stressful things one can go through, it is important to provide a clear financial picture to your clients. With a binding estimate, the price is clear from day one, and that way the client is able to avoid unexpected costs and allow them to budget with confidence.
Stress-Free Moving
Unforeseen expenses can add unnecessary stress to any move. With a binding estimate, the client can rest easy knowing that the price won’t change for the agreed items and services.
How To Get Binding Estimates?
The Process Of Getting Binding Estimate
To offer a binding estimate, the moving company first needs to conduct a thorough assessment of the clients items and required services. This ensures that everything is accounted for, providing the client with an accurate, guaranteed cost.
Assessment and Inventory
You are in charge of taking a detailed inventory of clients items and discussing the services needed for their move. The more accurate we are from the start, the more precise your estimate will be, and less things you’ll need to account for on the day of. Best thing would be to do a virtual walk through and ensure you have everything included. Learn about our Virtual Surveys and how we do them.
Transparent Agreement
Once the assessment of a move is complete, your client will be looking at a detailed, written estimate. Your clients need to double check that the binding estimate you presented covers everything they want done.
The Binding Estimate Advantage or Disadvantage
In the moving industry, unexpected challenges can arise. That is why it is best to be fully prepared and have all the necessary information needed before providing a binding estimate. With a binding estimate, the price is fixed for the items listed, but unforeseen circumstances – like additional items in an unmentioned room or items that need packing – can affect the overall move.
As a young moving company, providing accurate estimates to clients is essential. When people know you are a company they can rely on, they are more willing to recommend you to their loved ones. That is a sure way to build trust and confidence in your brand.
So, next time your client asks you: How do I get a binding estimate? You’ll know what steps to take. For everything else, there is MEMO.
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