BW Sessions: Honest Buildings

My brother knows a guy...

My cousin has this friend...

My wife’s college roommate…

Ever since Man first discovered that he couldn't do everything by himself, word-of-mouth networking has been an essential facilitator of commerce. And perhaps more than other industries, ours has relied heavily on personal recommendations to form teams that we hope will both gel and excel. So ingrained is this tradition that even with all of today's tailored, technological advantages, many managers still prefer word-of-mouth advice.

However, one bad business partner can jeopardize millions of dollars. So, arguably vetting one's potential teammates has never been more important than it is today. With that in mind, Riggs Kubiak launched New York City-based Honest Buildings (HB) in April 2013. Boasting a national database of some 18,000 referenced, reliable architects, engineers, contractors, and IT specialists, HB markets itself as a "connection engine" for the real estate industry that helps clients "find and meet the perfect people" for their projects. So far, those projects have been valued at nearly $300 million combined.

Headquartered in midtown Manhattan's landmark, 57-story Woolworth Building, which was the world's tallest when it opened in 1913, HB today believes it is making its own place in history. Its "user-friendly technology toolkit allows property and asset managers... and developers to leverage a vast network of service providers.”

Not only is the process more accurate, but it saves time, as well. “Word of mouth is a long process,” explains HB’s Peter O’Brien. “Owners and estimators already have enough stuff going on without the wasteful process of chasing people for bids.”

That’s where HB says it can help.

How Does it Work?

Potential customers enter their company information into a free, online form found on HB’s website. Based on that data, companies are then paired via Request for Proposals (RFPs) and Request for Quotes (RFQs), tied to preset client and project parameters; i.e. location, relevance, experience, and references, among others.

“It’s a simple and tailored marketplace,” adds O’Brien. “We use a proprietary, matching algorithm to connect decision-makers with vendors.”

On the client side, HB taps into its database of industry professionals to develop a short list of qualified customers. And true to its name, Honest Buildings says it will only accept projects that its leadership knows it can effectively manage and deliver.

You would be a good candidate if you…