When you’re buying, building or renovating a property, it can be hard to know how to vet your builder. 

While their website, display homes and testimonials might make them seem trustworthy, you’re worried about what could go wrong. With so many media reports on property defects and  builders going bust, you realise you can’t take their word alone. 

You’re not alone in your unease. A 2025 YouGov survey revealed that nine in ten Australians are worried about builders cutting corners to deliver homes faster and a similar proportion are concerned they will take shortcuts to reduce costs. Half of those surveyed lack confidence in the quality and long-term durability of newly built apartments, while 78% are concerned about builder insolvency.

This is where the power of an independent iCIRT rating comes in, allowing you to move beyond the sales pitch and make a data-driven decision.

What is an iCIRT rating and why does it matter?

iCIRT, which stands for the Independent Construction Industry Rating Tool, is an independent rating system designed to assess the trustworthiness of builders, developers and other construction professionals. 

Just as ratings exist for car safety, household goods, financial products, appliances and accommodation, iCIRT ratings were introduced to help property buyers, home builders and renovators make informed, data-driven decisions about which companies have the capability to deliver with reliability and which do not.

Builders and other construction professionals with an iCIRT rating have demonstrated high-trust characteristics in an independent, evidence-based assessment conducted by the regulated ratings agency, Equifax. The assessment looks at a wide range of factors, including the company's financial health, operational maturity, track record on past projects, and the character of its key personnel. 

The iCIRT assessment scrutinises key indicators of risk - from mounting debt to falling sales - and has proven effective at predicting which construction firms are headed for trouble. iCIRT  data shows that 90% of construction insolvencies had a high-risk profile at least 12 months prior to collapse, leading to a significant drop in their rating. 

How to vet a builder with an iCIRT rating

Using iCIRT to vet a builder is surprisingly simple. Checking if your builder is iCIRT rated can help give you the confidence to know they have passed a transparent and objective measure of their trustworthy credentials. Here's what to do:

1. Check the iCIRT Register 

The first step is to see if your builder and developer is listed on the public iCIRT Register. This register only includes companies that have undergone the assessment, achieved a rating of three gold stars or higher and agreed to share their rating publicly. 

The register shows the status of their rating as either: ‘current rating’, ‘withdrawn’, ‘update pending’, ‘non-compliant’. You can find the date the company was awarded their rating by checking the ‘date rated’. Most companies will seek to update their rating every 12 months. Older ratings that have not been updated will be shown as ‘withdrawn’.

2. Ask if they are iCIRT rated

When you meet with a builder, don't just ask about the project timeline or costs. Ask them directly if they are iCIRT rated. A builder who is proud of their rating will be happy to show it to you and explain what it means. All iCIRT rated businesses should be able to present their iCIRT badge, rating and QR code that confirms the details of their rating.

3. If a builder isn’t iCIRT rated, ask them to get rated

iCIRT is voluntary, so the more Australians who ask if their builder is rated, the more it will become an accepted way of doing business. 
If the company isn’t iCIRT rated, you could consider asking them to insert a clause in the contract committing to obtaining a published rating within a specified timeframe. The Guide to Choosing an iCIRT Rated Construction professional contains a suggested template clause.

4. Vet both the builder and developer 

Here's a crucial point that you may not be aware of: it's vital to check the iCIRT rating of both the builder and the developer. 

If a builder goes bust during the project, you'll be relying on the developer to pick up the pieces and see the project through. By checking if the developer is also iCIRT rated, you can feel more confident knowing that you’re working with a build team that has evidenced its capacity to do the right thing, including installing a new builder or fixing defects that might arise. 

In fact, 100% of iCIRT rated developers have evidenced their ability to produce quality builds and rectify any potential defects.

5. Confirm the contract

Once you've chosen your trustworthy iCIRT rated builder/developer and checked their company name is listed on the iCIRT Register, also check your contract. You want to ensure a consistency of company names. By confirming the name of the rated company is on your contract, you know that another non-rated company hasn’t been substituted in its place.

Demand a higher standard for your project 

Australians want more transparency and better standards in the residential construction industry. According to YouGov's research, 90% of Australians agree that consumers should have access to a public register of independently rated, trustworthy builders, developers and other construction professionals.

Using iCIRT is a proactive way to help protect your investment and reduce the stress of building,  renovating or purchasing a property. By choosing a company that has achieved their trustworthy credentials through a rigorous, independent assessment, you can move forward with more confidence. 

Never leave it to chance; choose an iCIRT rated builder who you know has a track record of doing the right thing. 
 

Disclaimer: The information provided in this article is intended for informational purposes only and should not be construed as financial advice. Readers are strongly advised to seek independent professional advice tailored to their specific circumstances and requirements.