One of the best features about LAWCLERK is that all projects are done at a flat fee price set by the hiring attorney. This, naturally, leads to the following question: “How do I price my project?”
Let me give you two quick and easy approaches so you can decide which works best for you.
Pricing Approach #1
Most attorneys operate by the billable hour. Hence, the billable hour is a familiar way for attorneys to price their flat fee project on LAWCLERK. We see attorneys posting projects for around $50 to $150 per hour when you break down the flat fee projects going through the marketplace. You can use this as a general guide but note this range depends a lot on the practice area, level of expertise, and of course the jurisdiction.
Using this approach, let’s say you need to get a motion for summary judgment drafted. You estimate it will take around 10-12 hours to complete the work and it’s on the upper end of the difficulty scale. Based on this estimation you might price the project around $125 an hour, or more. The project could be priced in the $1,250 to $1,500 range. Just like anything in life – you get what you pay for. If you want to attract top talent to work on your project, I suggest pricing it at the higher end: $1,500.
Pricing Approach #2
Another option is to first determine the billable value of the legal work and then back into a project price. For example, let’s say you need to get a will and powers of attorney drafted for a client. Perhaps you are charging the client a flat fee of $1,000 for this work. Hence, the billable value of the project is $1,000. We suggest pricing your project on LAWCLERK at 30-40% of the billable value. Using this approach, you could price the project at $300 to $400.
Keep in mind these are general guiding principles. If you live in a higher priced legal market like New York City or San Francisco, you should plan to pay more for your project. Likewise, if you are posting a highly sophisticated project you should calculate in a premium to the flat fee. Most people tell us they get the hang of how to price their projects after completing their first two or three projects.
We generally discourage rush projects but once you get familiar with the site you may find yourself occasionally pumping work through quickly. I love the story from one of our frequent users how she posted a research project from the gym early in the morning and had the memo in her inbox right after lunch. If you are looking for a fast turnaround on a project, pay a commensurate premium.
Ready to put LAWCLERK to work for you? Learn more about how LAWCLERK™ works or contact us for a consultation today. Also check out our YouTube video for more information on How to Price a Project.
Want to talk through how to price your next project? Please reach out to us at support@lawclerk.legal or 888-479-5728.
