I come back to one of my favourite topics this week – fees!
Here is an outline of a telephone conversation I had with a prospective client this week
Client: Hello; you wanted me to call you so that you could discuss the costs and the services you can provide so go ahead, tell me how much it is going to cost me?
Me: Yes, thank you for calling me. I always think it is useful to have a chat so that I can make sure that I have as much detail as possible so that I can give you as accurate figures as I can.
Client: Well it is straightforward, I have bought and sold houses for many years and guided family members on this so I know what I am doing so I just need it as cheap as possible.
Me: OK, well give me some details…
Which they do and it is clear from the address provided and my knowledge of the area it is not going to be as straightforward as the client thinks… and I suggest as much…
Client: I am not really interested in any of this. I need it done as quickly as possible and as cheaply as possible so are you going to tell me your fees or not? I don’t have all day.
Me: Yes I can work the figures out now and then email them to you.
Client: I have already had some figures and I am looking at paying around £500.
[not sure if the client heard me gasp!]
Me: I am far more expensive than that.
Client: well this is a waste of time. I have told you it is very straightforward – a cash purchase which needs to complete quickly. Money is coming from abroad and we need to complete quickly…
Me: I will send the figures over to you now and I look forward to hearing from you when you have made a decision…
[not sure if the client could see that I had crossed my fingers in the hope that he was not going to instruct me]
Quote sent… what would you do? Do you want this type of client? Are there too many red flags…
This is written by a real high street conveyancer who wishes to remain anonymous. Read more in Today’s Conveyancer every week.
2 responses
I would have decided not to take it on after hearing the words”cheap” and “abroad”.
Client: I am not really interested in any of this. I need it done as quickly as possible and as cheaply as possible so are you going to tell me your fees or not? I don’t have all day. – I would have stopped at this. This is very rude from a prospective client and not something I would be interested in dealing with. I would not have issued a quote in the first place because the expectations of the client against those of the firm were far too far apart to create a good working relationship.