What would an owner’s representative do for my company as you build?
Most owners don’t have the time or knowledge of construction to oversee building a new building. Our expertise is not only in construction but the expertise in selecting an architect and contractor and more importantly - negotiating a contract. Most contracts are more complicated than a quoted fee and it’s our job to represent and protect the owner. In addition to fees for overhead and profits there are cost for general conditions, insurance, project requirements, etc. We negotiate all variables prior to recommending the owner proceed with the project.
What is different about your company and others like you?
Stonebridge’s co-owner, Reed Woods, previously owned a large construction company and has over 40 years’ experience in construction. We solely represent the owner’s interest independent of the design professionals and general contractor. Many times owners will select an architect to manage a project which basically means the architect is managing himself!
How much do your services cost?
How we bill is really up to the client – we can work on an hourly basis or by a small percentage of the project cost. On virtually all of our projects, the cost of our services provided, has saved multiple times over in the cost savings realized by the owner due to our involvement.
How are you able to save us money?
One of the most important things that we do for our owners is careful scrutinization of pay applications and invoices. Most architects do a cursory review of pay applications and okay them for payment. We go over each and every invoice and backup on a monthly basis (sometimes as large as 2000 pages for a single pay application on large projects) looking for errors and duplication. It is not unusual to find mistakes totaling tens of thousands of dollars. Although an owner may have the staff to oversee this process, it is unlikely that they would have the construction background necessary to assess the accuracy of the invoices. We view this as an important part of our job to save our client money.