Do you believe it is ok to take $100,000 for a job that only cost $2,000 to complete, exposing you from typical to low liability?
Please explain...
I'm not sure how to answer that and I'm not sure that it matters because I can't forsee such a situation ever happening to me.
Depends. If the job is a specialty and that you are a select few that know how to complete....yes. If the job was already bid on and most of the bids are at $2,000 and then for some reason you get it for $100,000....hmmmm...I'd question that one. $98,000 difference is quite a bit.
I think I understand what your asking...perhaps
Dam High ballers 🙂
Larry P will be along shortly...
with his sermon on pricing based on value not on cost... with which I wholeheartedly agree.
If you have to ask...
You will NEVER make it as a politician!!
🙂
N
Not a realistic option in our profession - for the most part, unless its a gobment contract with some special interests involved. Then yes, a $12 hammer does cost $972.53. So I suppose a $2,000 survey could run up to $100K, plus...
Where do I sign up?
> Do you believe it is ok to take $100,000 for a job that only cost $2,000 to complete, exposing you from typical to low liability?
As Rankin suggested, if the value of the service is $100k, then no problem. Otherwise, something's wrong -- an improper quid pro quo or a confused client -- and it's hard to find an ethical justification for accepting the work at that level of fee.
I learned from a master that kept good records and set durable hub points to return to years down the road and put together networks that can eventually be tied together to encompass towns, cities and even counties. Using proper GPS techniques the same thing is being done today with each new job.
My hope has always been that my newest projects will be for clients who call and ask for something that I have already located and completed or have yet to produce results for.
So, in that regard, it would be like "money in the bank" to do little labor for abundant rewards.
I have no problem with charging $100K for something that would benefit my client and be worth that amount even though my current effort was $2k.
We have to see ourselves doing some work as labor for x dollars an hour and at other times we are working for a fee amount. Both are competitive and open to everyone to be in the hunt.
I would compare that to a return in an investment I took by doing the little bits of extra work all those years.
I agree A-Harris. But, for some reason it feels like there is more to this question....
I see it now.......
did you go to the Bunny Ranch???????? 😉
Sure if taxed at the rate of 250%. 250% for the feds, 250% for the state, 250% for the county and 250% for city taxes.
jud
Our governing laws
There's not a thing wrong with it, as long as you don't fall into any of these listed behaviours:
Oklahoma State Statues
Section 475.18, sub-section A, paragraph 11:
A. The Board shall have the power to suspend, revoke or refuse to issue,
restore or renew a certificate of authorization for a firm,or a certificate
of licensure of, or place on probation, fine or reprimand any firm,
professional engineer, professional land surveyor or engineer intern or
land surveyor intern who is found guilty of:
11. Engaging in dishonorable, unethical or unprofessional conduct of a
character likely to deceive, defraud or harm the public.
Soooo...teckniklee...if you've discussed the fees with your client and he understands you billing structure AND your business-profit model...get-er-dun.
I would have no problem telling a client that my current rate for a crew was 150 an hour. But since he wants this done on the first day of dove season the rate will be considerably higher.
> Do you believe it is ok to take $100,000 for a job that only cost $2,000 to complete, exposing you from typical to low liability?
>
> Please explain...
YES!!
What ever was negotiated...per the contract...regardless of what it costs...
Since this knife cuts both ways...why worry about the ones that win?
What if you charge $100 for a $2 print?
DDSM:beer:
(or like the feller said...you got to kiss a lot of frogs to find a prince...get it? One feller was from Arkansas)
no problem here. i would call you a good businessman.
and just remember, direct labor cost is only 1 facet of your bottom line. Rent, insurance, years of training, etc.
i surveyed a lot 5 or 6 years ago where i found 2 deeds on the adjoiner had been recorded within a couple of days of each other. it looked odd so i checked them both out. my client bought it one week for $120,000 and sold it a week later for $280,000. good business.
I get paid for what I do, not how long it takes me to do it.
I may be able to do a job in a half a day because of my experience and knowledge of the area where it might take somebody else 2 or 3 days.
Should I take less money because I can do it faster? Nope, I don't think so.
I just sent your client an
email...telling him I'll do the job for $95,000...sucka!!!:-) 😉 😛
I just sent your client an
:good: :clap:
50 to 1 is difficult to imagine. Nevertheless, if the client has done their homework and believes that is a fair value and they offer the job to you at that price, go for it.
I just sent your client an
> email...telling him I'll do the job for $95,000...sucka!!!:-) 😉 😛
87,300!