Home improvement finance company Renovate America is launching a new online all-in-one marketplace designed to help connect homeowners with contractors and get financing. And while the marketplace is for consumer use, the benefits promised to remodelers are substantial. For one, it’s another channel through which to generate (free) leads. Renovate America expects “tens of thousands” of property owners to visit the platform monthly.
“Our marketplace helps contractors stand out from the competition and be seen by more qualified homeowners,” a spokesperson for the company told Pro Remodeler, adding, "Every listed contractor gets a personalized storefront page, giving customers the ability to reach out to them directly via a contact form and phone number.”
But getting a marketplace listing isn’t guaranteed, and it isn’t a matter of money. Being listed is free, but only if the contractor is qualified. “Contractors need to register with Renovate America and then be approved through a background evaluation to validate that they are good actors,” the spokesperson explains, adding that search results will ultimately be organized by job type and how well remodelers offering those services have performed for clients in the past.
By establishing a vetting process, Renovate America hopes to counter some of the hesitation homeowners have shown about hiring a contractor found online (something other companies such as HomeAdvisor are also trying to do). It hopes to pass the benefits on to contractors.
“Our quality testing is good for a contractor’s exposure,” the spokesperson says, “and especially so given that these business leads convert at a higher rate than industry average.”