Residential construction is ripe for disruption. For too long the industry has been plagued with mistrust, risk, and inefficiencies. We live in 2020 and yet the systems and processes used in residential construction are archaic and lack innovation.
Why can’t the home buyer or person looking to renovate enjoy a seamless experience from start to finish? Why are estimates static, vague and not dynamic? Why can’t consumers make their selections in real-time right within the estimate? Why do most contractors take so long to provide a vague estimate with allowance based pricing? Why are change orders so disorganized? Why does the consumer pay the general contractor directly and lose visibility and control over their money? Why do subcontractors get paid last and often late? Why is it so hard to take measurements and get a 3D model representation of the home?
There are some glaring problems in the industry and yet it seems like most technology solutions are not really advancing the industry forward in a big way, instead the technology is only slightly better than before. In other words, most technology solutions for residential construction are simply “digitizing” the same old process. It’s rare to see real innovation happen that is truly a “game changer”.
The good news is that smart, innovative companies are starting to realize the construction industry is one of the last trillion dollar industries that hans’t been disrupted by technology and is ripe for change. In 2020 there are more promising technology solutions that have the potential to disrupt than ever before. Let’s take a look at a few of those technologies:
CostCertified – The first eCommerce platform for contractors with an Amazon-like buying experience. Consumers can make their selections in real-time right within the estimate while seeing the difference in price (i.e. pick their floor type, countertops, backsplash, lights, etc). It’s a platform that is bridging the gap between consumers, contractors and construction retail.
hover.to – Taking measurements can be a pain in the butt for any contractor. Hover makes it easy so that all you need to do is snap a few photos and the app takes care of the rest. It allows the contractor to be more efficient and it’s a lot more safe. Plus, they get a full 3D rendering of the home to help with visualizing.
LevelSet.com – Makes it easier for contractors to put liens on homes where they haven’t been paid. There’s a lot of subcontractors who don’t get paid after they do their work so the law lets them put liens on the residence they worked on. Even though LevelSet makes this easier, other innovative companies like CostCertified.com are reinventing the entire way money is managed which will reduce the likelihood of a subcontractor not getting paid to begin with.
FollowUpBoss.com – Leads are extremely important for any residential construction company. FollowUpBoss has made it so that managing those leads are a lot easier. The idea of a CRM has been applied to many industries but construction is one of those industries where it isn’t uncommon for contractors to forget to follow up with their leads resulting in frustration from the consumer and a loss of opportunity for the contractor.
These are just a handful of upcoming companies who are doing their best to revolutionize and disrupt a certain aspect of residential construction. It’s good to see innovative technology starting to impact the construction industry. We need more of it!
