The Phase I ESA industry is adapting to changes in the commercial real estate market. Turnaround times and pricing are projected as two of the most important issues concerning the client consultant relationship in 2019.
As the economic recovery period enters its 11th year, concern about the next cyclical downturn is rising, and time pressure on consultants is intensifying as buyers look to close good deals before the market turns, or interests rates rise.
Standard turnaround time for a basic ASTM E-1527 report in 2018 averaged 14.9 business days. As client demands for faster turnaround times increase, the majority of consultants charge extra for that service. The average price of a report from a local provider in 2018 increased by 6% to $2,518, and is projected to rise in 2019.
SRC prices will not change, and our turnaround times will still be guaranteed at 7 calendar days. Our competitive edge has always been cost-effective pricing, and fast turnaround times. Pricing for a basic report is half that of other local and regional providers, and discounts for loyal customers are often applied.
SRC enters its 17th year of providing environmental services to the commercial real estate market. The two principals of SRC offer a combined 54 years of experience in the environmental compliance sector.
We look forward to working with you in 2019.