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Thread: Bank Of America

  1. #1
    Join Date
    Nov 2000
    Location
    Coastal Georgia
    Posts
    34,902
    O.K Not laughing anymore. Just got the mail. My Mortgage company is selling a home warranty that covers HVAC. In it they publish a replacement cost (to what extent not explained) of $3,275. The company is Total Protect Home Warranty. Everyone is getting in the game.

  2. #2
    Join Date
    Sep 2002
    Posts
    3,708
    Too true.I for one after twenty five years in this trade
    am slowly looking into doing something else.

    If you charge what you need to cover the cost of doing business you dont get the work.
    If you charge to cheap you have plenty of work but you dont make enough to stay in business.

    Its a very fine line.I hear people say if you do quality work you will go far,just not true any longer.I see maybe three customer a year looking for quality,all the rest is looking at bottom line only.

    Couple it with what you have mention about the big corp getting into the business and it looks like its going to get worse before it will ever get better.






  3. #3
    Join Date
    Oct 2004
    Posts
    1,722
    Originally posted by simpleman
    I hear people say if you do quality work you will go far,just not true any longer.I see maybe three customer a year looking for quality,all the rest is looking at bottom line only.
    This may not be true in all areas of the country.

    Although I'm not an owner, I can say we have customers and contractors ask for certain people within the company because of their work, and they pay whatever it costs.

    Do you think you can get the work after the fact that the homeowner knows something is wrong, and the company that initially installed it has been dodging the bullet? I am working on a job dealing with this type of situation right now.

    Sorry to get off topic there james...
    Get back to work.™

  4. #4
    Join Date
    Mar 2002
    Location
    Richmond, Virginia
    Posts
    4,264
    If you can't beat 'em, join 'em. If you could sell 2,000 warranty policies at $500 each and invest the million, how long would it take before you had enough capital to cover your expenses for breakdowns and contiue making money? Renew them all annually? The more I think about it the more I like it! And I'm not even a bean counter.
    There is nothing more frightful than ignorance in action....Mark Twain

  5. #5
    Join Date
    May 2004
    Posts
    12,285
    http://www.hvac-talk.com/vbb/showthr...threadid=69759

    It is true... had a chat with my bank manager... we came to the conclusion that it was bigger than the both of us but he would pass on my concerns.

    Going to boycott BOA?


  6. #6
    Join Date
    Jul 2003
    Posts
    2,407
    When I got into this business I worked for a company that did Home Warranty work and sold the contracts on pretty much everything. When I started they handled the HVAC system, major appliances, plumbing and electrical. If you had the whole contract it would cost you a pretty penny. I asked the owner how he could make any money doing all these repairs including the parts and he said it simply was in the amount of contracts you have. The more you have, the better your chances were to make money. Then there were the outs on the contract, rust and corrosion not covers, lightning strikes/power surges not covered, neglect from the HO not covered, plastic and cosmetic pieces not covered. He also was very big into the UPSELL, sell them time delays, sell them digital t-stats, sell them extra clean and checks, sell them anything you could. By the time I left the company they had gotten into everything, home improvement, computer repairs, selling new and used appliances. I wouldn't be surprised if they are now not selling house cleanings and gutters cleanings. I guess it works, he has grown from 4 employees to 150 in 15 years with 25 service vehicles on the road. Myself, I just couldn't do it to people anymore, sell them things they didn't need that is. I much rather work for a small outfit with 1 or 2 guys and do quality work and make an honest living. It helps me sleep better at night.

  7. #7
    Bank of America is your note holder ?

    What kind of rate you got ?

  8. #8
    Join Date
    May 2005
    Location
    iowa
    Posts
    6

    Unhappy

    They will say anything to get you to buy, but when it comes to a claim they will more then likely come up with a reason not to do the repairs. I just got burned by a office supply extended warranty on a digital camera, they will not repair it they say it had corrosion. I plan on getting a second opion, but I'm sure it won't make a difference.

  9. #9
    Join Date
    Jul 2001
    Location
    Houston, TX
    Posts
    918
    Bank of america sucks IMHO. Not one in my area with a drive through, stand in line inside forever just to be told all the "rules" and "fees" on my deposit or withdraw. Everyone who worked there seemed like some robot.

    Nothing wrong with corporations, but the big and heavy with jackass investors just make doing business with them seem like a trip to the dentist.

    Correct me if I am wrong, but I thought when you let someone hold your money, so they can make money off your money, they would bend over backwards for you, but NOO, they ask for you to bend forward.

    Sorry, I had to vent. This is why I dropped them.

    [Edited by jasonhoustontx on 08-29-2005 at 08:50 PM]

  10. #10
    Join Date
    Sep 2002
    Posts
    3,708
    Originally posted by HVAC Pro
    And I'm not even a bean counter.

    Oh yes you are,bc you live in Richmond.

  11. #11
    Join Date
    Mar 2002
    Location
    Richmond, Virginia
    Posts
    4,264
    Originally posted by simpleman
    Originally posted by HVAC Pro
    And I'm not even a bean counter.

    Oh yes you are,bc you live in Richmond.
    Oh yeah, you got me on that one.
    There is nothing more frightful than ignorance in action....Mark Twain

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