Should You Set Fees Higher Than You Expect and Then Discount Them as A Way Of Psychologically Preparing The Client to Pay The Bill

The collecting of fees is a very touchy subject in today’s market and economy. Most clients (and attorneys) are feeling the burden of the failing economy and in our experience it has been noted that no matter the situation it has been difficult to psychologically prepare clients to come up with any amount of money for their legal matters I don’t think you should set fees higher than you expect and then discount them as a way of psychologically preparing the client to pay the bill. One of the best ways to get more clientele is to have a price that beats the competitor. If you give a client at an initial consultation a price that is high, it may and will most likely be higher than the competitor. Hearing this, the client will most likely go back to the competitor for the cheaper deal. You want to tell your client a fee that fits their case in general, without low-balling your price. If the case involves a lot of work, then obviously your fees will be higher in which case you have to tell the client anyways. But if it is a regular case, you should not tell them a price that is higher than you know it will end up being, that will make the client question whether or not they want your business, and you can possibly lose a client and a check in the meantime.

I feel the best way to prepare and nurture the client-attorney relationship is to be completely honest and upfront with the fee that you are quoting them. Before quoting them a price, the attorney should do extensive research on the client’s case, and should also consult with competing attorneys to determine an accurate fee for the client.

It is somewhat unethical to set a fee higher than what you expect and then discount the price just to make the client feel better about the money that he/she is spending. The relationship that you are attempting to build with the client is a very delicate relationship and should be basted on complete honesty. Honest begets trust! The outcome of the relationship that you form with each of your clients is the foundation and ultimate success of your business. If a client feels that you are not being honest, their suspicion of the attorney, and your business will rise. You will ultimately hurt your relationship with that client and potentially with other clients. If you can show your client exactly what they are being billed for then in most cases we believe that they are going to pay without any sort of psychological trickery.