7 Common Mistakes
#7 Stating a fixed price without first
clearly scoping what is included
This is a mistake because the client’s circumstances and/or work may change substantially and you have the right to charge more. When quoting a fixed price you must put in writing what is included (the scope).
Leasehold work will always involve more work and cost more so it is not unreasonable, therefore, to give the client an ‘estimated price’ explaining that costs can vary as you are more dependent on the likes of the freeholder and the managing agent responding to your requests for information in a timely manner.
Remember, your ‘estimate’ is just that, an estimate, and not a fixed price. But - you must keep the client informed if the work is likely to move beyond the agreed scope before if happens
and agree the next step before proceeding.
TIP: Be absolutely clear from the outset with your client what work is
included in the price and that you reserve the right to come back for more
money if additional work beyond the agreed scope becomes necessary
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To find out more contact David Opie on 01524 220 001 or email email@example.com
Avoid the 7 common mistakes and you will improve your Firm's profits - GUARANTEED!
If you feel your firm could do with some help to avoid these common mistakes, contact Legal Mentors for a free, no-obligation chat about how they have helped other Solicitors to avoid these mistakes and thus make more profit.
Call Martin Wyatt on 01233 712150 or Michael Porter on 01264 810595