Re: Re: one trick is not to cut prices but to give more time
Originally posted by njclassyblonde
that does not work either, and would you be saying the same thing to your lawyer or doctor?
Originally posted by pjorourke
No, but for a good reason. Doctors and lawyers are in a business where the economists say that the demand for their services is price inelastic -- which is a fancy way of saying that if you cut prices, people don't buy more.
I have to disagree with both of you. As someone who is an actual consumer of attorneys ( hahaha ), I can tell you that I can, and very often do, negotiate attorneys fees. I shop attorneys, and keep attorneys in line by using more than one at a time, and shifting business between attorneys based on the economic incentives each offers. They know this, and
very often throw in "free time", reduced rates, flat fees, etc. In addition, there is a decent amount of attorney work which I only engage if fees drop, either by way of drastically reduced hourly rates, or flat fee/contingengy fee deals.
And I can tell you that currently, I'm getting lots more than I used to of attorneys willing to do "high risk" work on contingency. I also have attorneys calling me on cases which I assigned to other attorneys, whenever something gets published in the Law Journal, just so they can show me that they are keeping up with "my stuff", even when it's been assigned elsewhere.