Do you post your fees on your web site or in your ads? Some attorneys do; most don’t, but should they?
Of course for many legal services, it’s nearly impossible to quote an accurate fee without more information. So we say, “it depends,” and encourage the prospect to call. In truth, most people don’t call, because they are intimidated or don’t want to listen to a sales pitch or be told they have to come into the office.
But if you charge a flat fee for a given service–incorporation, bankruptcy, real estate closing, living trust–should you list those fees up front? If you charge by the hour, should you post your hourly rates for the world to see?
Let’s think this through together. . .
PRO: Posting fees lets prospective clients see if you are “in the ballpark” of what they can afford and are willing to pay. Theoretically, you’ll get more clients hiring you who might not take the time or trouble to call to get an actual quote.
CON: Quoting fees invites price shopping and creates pressure to compete on price, which is a slippery slope for any attorney because there will always be someone “cheaper”. And, do you really want clients who are merely looking for the lowest price?
You could say, “fees starting at. . .,” or, “fees range from X to Y, depending on the complexity of your matter. . .”. This gives the prospect an idea of what to expect and may be an acceptable compromise for your practice.
Indicating the fees you charge with any degree of specificity may not be something you want to do, or can do, but that doesn’t mean you should avoid the subject completely.
If you charge flat fees, explain why the client is better off knowing in advance how much they will pay, in contrast to the open-ended nature of hourly fees. If you charge by the hour, explain why the hourly rate isn’t the only factor, that while they can probably find an attorney who charges less per hour, that attorney’s comparative lack of experience may wind up costing the client more. Explain how contingency fees work to the advantage of the client. Explain costs and retainers and trust accounts.
In addition, you can help prospective clients to appreciate the value of what you do by explaining how fees are determined, the information you need to know (and why), and the options and possible outcomes their case may entail.
When you are open with prospective clients about the subject of fees, they may be more inclined to trust you, at least enough to make that call to find out “the bottom line”.
I’d like to know what you think and what you do in your practice. Do you post your fees on your web site? Do you explain how your fees are determined?
