Not Utilizing Intuition.
One of the main reasons consumers overspend is because they don’t utilize their intuitive nature. Though there may not be a consensus of what is considered good common sense, most would agree it relates to sound judgement in practical matters. In most cases of overpaying, a consumer can recall a point in the buying transaction where something seemed out of place or they felt uneasy with the situation. Instead of honoring these thoughts or feelings, they dismissed them as erroneous and proceeded to purchase. In hindsight, they realized they were adequately informed by their nervous system to pause or curtail the process. In other words, they did not utilize their intuition; therefore they overpaid.
As a matter of fact, many commission salesmen embellish things as well as attempt to motivate consumers to buy unneeded additional items. Though we all rely on salesmen from time to time, we don’t have to blindly accept all of their recommendations.
Take the time to get still and ponder all of the diverse information presented and collected. You will eventually become aware of a sound judgement regarding what direction to take. Wait for this intuitive guidance of understanding, then proceed.
Not Reviewing Enough Bids
We are living in an era where reviewing 2 or 3 bids may not be a sufficient number to fully evaluate fair market rates. Moreover, some companies are purposely overcharging in an effort to catch lazy customers who haven’t done their homework. These companies use very creative sales gimmicks. For example, they may say, “We just had someone cancel a building order of this size building (always a size close to the size building you are looking for). If you can pay the balance off now, we will sell it to you for only…” Any customer purchasing from one of these firms will end up paying full retail rates.
A wise customer collects four or more bids unless they have been referred to a company that has a proven track record of offering fair prices right off-the-bat. Needless to say, there are not many of these type of firms. To clarify, the more bids and objective data collected, the higher the probability of determining what a fair steel building price is. In summary, don’t rely on just any salesman’s statements, no matter how enticing!
If a company doesn’t post any prices on their website, I would be a little suspicious.
Not Thoroughly Reviewing Items Included on Contracts
The most common deception used by salesmen is getting customers to buy a building without any framed openings included for roll up or sectional doors. These primary openings should be designed into the building plans. Nevertheless, salesmen are commonly trained by management to convince the customer its best to let a project coordinator assist them after the sale with properly locating these openings. Naive customers fall for this gimmick, and proceed to place deposits on building without seeing the roll up or sectional door opening included on contract. Once the deposit is paid, the project coordinator can now charge $800 to $1,200 per opening. If the customer refuses to pay, then they get a building without the needed openings.
I have spoken to countless customers who realized after the fact that some or all the accessories they expected to get where not included. This can occur when a company lists the items, yet the box next to the items must be checked for the item to be included. Needless to say, these customers were forced to pay retail rates for these items after the initial order
You would be amazed how many people don’t thoroughly read their contacts. Remember, it is not what a salesman says that counts, it is what he puts in writing. A Purchase Order will not only have pertinent information on the building, it will also have terms of the purchase. I must admit, all terms seem to favor the seller; however, some terms have information that is not easily understood or is unjustified.
Not Creating a Budget
When it comes to overspending on a steel building project, this occurrence is often brought about because a buyer has not taken the time to formulate a budget. Without this compass, so to speak, a consumer has no way of clearly knowing how off-track they are financially as the project proceeds. There can and will be unforeseen costs. It is not uncommon for those who haven’t formed a budget to have to halt a project because they have exhausted their resources and now need to secure an additional loan to complete the project. It’s amazing how things tend to stay within our financial budgets when we create a budget from the start.