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How much is a fair referral fee
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Date: December 16th, 2014 6:03 PM Author: Bearded soul-stirring principal's office Perfect question for the XO crowd. I have a colleague who referred me a case (she's conflicted out--and unattractive (before anyone asks)). She'd like to get some type of referral fee for tossing me the client, and that seems fair.
But how much is a good amount?
I tried Googling, and all the "reputable" places don't answer the question and start talking about ethical rules. But let's set those aside for a second and get to the base question. How much would you consider fair?
I'm taking the case on contingency (it's not personal injury), and my colleague proposed getting 1/3 of my take. That seems high--although she claims that's standard for a personal injury referral. |
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Date: December 16th, 2014 7:38 PM Author: Purple hairy legs A fair way to think about it is to consider what percentage of your revenue goes to marketing expenses. Another thing to consider is, from a game theory perspective, whether this is a repeated game. If there exists a good chance of more referrals in the future you should pay a higher fee. (http://www.autoadmit.com/thread.php?thread_id=2758257&forum_id=2#26944055) |
Date: December 16th, 2014 7:00 PM Author: avocado razzle-dazzle tank skinny woman Nothing is standard in many places. Otherwise 10%. (http://www.autoadmit.com/thread.php?thread_id=2758257&forum_id=2#26943894) |
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Date: December 16th, 2014 7:02 PM Author: Flickering Cerebral Pistol Stage we do 5-10% depending on size, nature of business, etc (http://www.autoadmit.com/thread.php?thread_id=2758257&forum_id=2#26943907) |
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Date: December 16th, 2014 8:22 PM Author: Bearded soul-stirring principal's office That's what I was thinking. 10% of whatever I bring in. (http://www.autoadmit.com/thread.php?thread_id=2758257&forum_id=2#26944328) |
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Date: December 16th, 2014 7:17 PM Author: Violet Institution Electric Furnace consider it this way, you tip your engagement ring salesman for helping you SPEND money she's helping you MAKE money so you need to tip her at least as much as you tip him. so 100% or more of the fee imo |
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Date: December 16th, 2014 7:39 PM Author: trip resort 25%-33% on workers comp/PI .
Edit: that's for the possibility of repeat business |
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Date: December 16th, 2014 8:23 PM Author: Bearded soul-stirring principal's office High chance of repeat business. So I'm thinking somewhere in the realm of 10-25%. (http://www.autoadmit.com/thread.php?thread_id=2758257&forum_id=2#26944334) |
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Date: December 16th, 2014 8:24 PM Author: maize house what type of case? (http://www.autoadmit.com/thread.php?thread_id=2758257&forum_id=2#26944340) |
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Date: December 17th, 2014 11:43 AM Author: Bearded soul-stirring principal's office Business dispute. Partnership breaking up. My friend represented the partnership as a whole in good times.
Now one of the partners is saying she's getting screwed in the split up and wants to sue for her share. |
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Date: December 16th, 2014 11:15 PM Author: self-absorbed indian lodge coffee pot 5% (http://www.autoadmit.com/thread.php?thread_id=2758257&forum_id=2#26945693) |
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Date: December 17th, 2014 2:13 AM Author: Appetizing Karate Are there no lawyers on this bort? Industry standard is 1/3 (http://www.autoadmit.com/thread.php?thread_id=2758257&forum_id=2#26946986) |
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Date: December 17th, 2014 10:09 AM Author: hot rehab I think most of us who are lawyers work at big firms. this is a shitlaw question. OP should ask it at JD underground. he/she will likely get a good answer there. (http://www.autoadmit.com/thread.php?thread_id=2758257&forum_id=2#26947868) |
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Date: December 17th, 2014 11:41 AM Author: Bearded soul-stirring principal's office Good point. I just wanted to go somewhere where people wouldn't skip over the question and jump right to: "[Nerd Voice} Under the Model Rules of Professional Conduct . . ." (http://www.autoadmit.com/thread.php?thread_id=2758257&forum_id=2#26948364) |
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Date: December 17th, 2014 10:23 AM Author: Bonkers Orchestra Pit Cuck (http://www.autoadmit.com/thread.php?thread_id=2758257&forum_id=2#26947912) |
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Date: December 17th, 2014 10:11 AM Author: Saffron provocative therapy standard is 25% but only if the client was hers first. her getting some random who called the office to go to you doesn't merit more than a bottle of wine as a thank you. (http://www.autoadmit.com/thread.php?thread_id=2758257&forum_id=2#26947878) |
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Date: December 17th, 2014 11:42 AM Author: Bearded soul-stirring principal's office Her client first. She's conflicted out. (http://www.autoadmit.com/thread.php?thread_id=2758257&forum_id=2#26948373) |
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Date: December 17th, 2014 10:12 AM Author: Stirring poppy trump supporter dilemma For personal injury? 25/33% of the net attorney fee. I got a nice 18k one last year. (http://www.autoadmit.com/thread.php?thread_id=2758257&forum_id=2#26947879) |
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Date: December 17th, 2014 10:19 AM Author: swashbuckling double fault if keeping her happy will lead to you getting more $$$ in the future, then keep her happy (http://www.autoadmit.com/thread.php?thread_id=2758257&forum_id=2#26947896) |
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Date: December 17th, 2014 10:24 AM Author: Blathering Partner standard is one third (http://www.autoadmit.com/thread.php?thread_id=2758257&forum_id=2#26947916) |
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Date: December 17th, 2014 11:42 AM Author: Bearded soul-stirring principal's office TY, bra (http://www.autoadmit.com/thread.php?thread_id=2758257&forum_id=2#26948369) |