XactRemodel Pricing Data
When setting prices, independent contractors use a multi-pronged approach:
- Review time and material costs (bottom-up) by surveying local wages, materials, and equipment.
- Survey unit costs (top-down) from local subcontractors.
- Review prices from recent jobs.
XactRemodel’s Pricing team uses a similar method, conducting industry surveys with over 50,000 suppliers and contractors and reviewing completed repair and remodeling estimates. They constantly research labor and material costs across all supported pricing regions. The displayed line item and pricing information rely on the project's zip/postal code, defaulting to your company's zip/postal code until modified, with monthly updates.
Visit our Pricing Data Services webpage for more details on how Verisk's team performs research and delivers data to XactRemodel.
Questions or pricing feedback
Customer feedback and pricing recommendations are a crucial part of our ongoing pricing research. Your insights into local material and labor pricing are invaluable. For any questions or feedback you have about any of the pricing that exists in XactRemodel, or for questions about any items that you might be struggling to find, you can reach out directly to our pricing team for their input. Below is the contact information for our pricing team:
When reaching out with feedback, please provide information such as name and company information, the city in question, the line item in question, the price to be reviewed, and contact information for contractors, sub-contractors, suppliers, and others who can verify the price submitted.
FAQ
How does XactRemodel set prices?
XactRemodels pricing team performs industry surveys on labor, material, equipment, and installed unit costs with industry suppliers, contractors, and service providers across the continent. In addition, XactRemodel reviews recent transactions in the form of completed repair and remodeling estimates that have been submitted from live jobs in each market. This information is then analyzed, and a single representative price is reported for each line item in the next published price list.
Are the line item prices inclusive of contractor overhead, labor minimums, and taxes?
No, the line item pries do not include contractor overhead, labor minimums, or taxes. Contractor overhead and taxes can be added using a markup percentage in the project summary or for each individual line item. Labor minimums should be added as their own seperate line item.
How often is the pricing updated?
Price lists for each market are published on a monthly basis. When demand surges occur, causing prices to change more rapidly, price lists can be published as often as biweekly.
What regions and markets does XactRemodel cover?
XactRemodel publishes localized price lists over 460 areas across all 50 U.S. states and 10 Canadian provinces. These lists are based on local and regional costs for materials, labor, equipment, and unit prices, surveyed from local suppliers. In the U.S., markets are based on five-digit ZIP codes, and in Canada, on three-character FSA postal codes.
What about market conditions?
In the event that the conditions in the market adjust rapidly, these short-term price adjustments are placed in the Market Conditions of an item. When these price changes become the norm, or when the price reverts back to what it was before the inflation of the price, the market condition will go away and the material/equipment/labor will adjust as needed. Market conditions can be viewed in the components tab of an item to see if it is included or not.
