Attorney Fees – What’s a good Rate?

Question

What’s a good rate for an attorney?  I was given a name by reference and when I called to find out, the rate was ~$325/hour.  Seems high to me, but then again, I haven’t shopped much.  I am a firm believer that in most cases you get what you pay for, so I don’t want to sacrifice good advice for a cheaper bill, but it wouldn't take long for this rate to empty my pockets.  Anyone care to share what they feel is a reasonable rate for a competent attorney?  Thanks Everyone.

Daren Wang · Answer

@Bill Gulley Well Said...

Bill Gulley · Answer

Having an attorney referred to you by someone you know is a good thing. That rate is not high, probably on the lower end, but being in smaller metro areas you'll find that.

Rate per hour is not really the thing to look for, you need to look to experience and integrity. If some shister type told 150 bucks an hour, he'd just bill you 4 times longer to get the same thing accomplished.

Having one with little experience could mean screw ups and you'll be paying to fix their mistakes as they will never admit them and won't work again for nothing, least I never saw one do that.

The best thing to do is approach an attorney or any professional with the costs involved in the scope of work of what must be done instead of asking how much per hour, but you need to know that too. Then use that professional for specific acts that are actually required.

Getting things done is all about tactics, connections, trust, experience, knowledge and knowing the battlefield while having the ability to win if there is a battle ......what's that worth?

Get more referrals, talk to others in RE, a title attorney at a title company can usually take care of most routine matters and do so out of court, check at the title plant/company, they have an attorney or one retained. Down side, they may not be able to assist you in title matters. Good luck. :)

Daren Wang · Answer

Hi jeremy, I did pay 1500 dollar for my first deal, which I think it is overpriced. Regarding hourly charge, I do think 325 for paper work is bit expensive. Think about how we CPA get paid...