How do you update and maintain your material and labor rate database for construction estimating?

One thing I have learned is an estimator is only as good as their subcontractors. Developing lasting and meaningful relationships with subcontractors is the only sure way to grow and thrive. Few, if any, companies are capable of providing completely accurate material and labor costs for all trades and likely none will have as accurate a depiction of costs as the trades that perform the work daily.

I agree. I see young estimators constantly sending projects out to everyone in a subbies list. Sometimes this can be hundreds of companies. There is no way any meaningful relationship can be built using this method.

It takes deliberate consciousness to maintain an up to date database of labor rates, more especially the rates of materials. I have learned to maintain a proper and healthy relationship with local market vendors and artisans. As an estimator, there’s tendency to always price higher when you only rely on subcontractors to give you data, considering their added profit markups plus whatever additions you’d have to insert. It might be challenging when you only call the market or the artisans for rates without engagement, but referrals and recommendations can help maintain the relationship, even when you are not directly patronizing them.

Ensure term deal prices are up to date and revised following uplift notifications. Go out for specific job prices for aggregates, concrete and special items. Considering waste factors. Considering outputs based on time of year. Re-visit labour rates regularly. Keep a weather eye on world markets to anticipate rate changes

As a senior estimator, I prioritize maintaining strong connections with vendors and installers to manage the labor rate database effectively. This ensures that I have the most recent and accurate numbers for construction estimating. Regular communication and relationship-building contribute to the reliability and flexibility of our cost projections, allowing for informed decision-making in construction projects.

So every once in a while new things come along.....do them yourself with someone who has experience....and someone who doesn't know anything....a new trainee....a quick mockup of the task at hand is always worth the experiment.....

one time at a company I worked in in unstable market, I was responsible for making a database for all the structural and architectural materials from the purchase orders for the two last year and put the data on excel. using Macros in excel, we could make a good analysis and predict the material prices for the next period of time.