Typical situation when working for people who have plenty of money

Was told I was the third surveyor the guy called, "So, sharpen the pencil."

This was for a lot survey that I would be happy to just not lose money on.

My regret is that he told me that after I told him I would send him an offer of service.

Posted by: @dmyhill

My regret is that he told me that after I told him I would send him an offer of service.

Based on information that has recently come to light, don't hold your breath waiting on my proposal.?ÿ?ÿ

@dmyhill When I get the "sharpen the pencil" routine or figure out that a potential client is shopping based on price alone I immediately stop the conversation.?ÿ I let them know that if price is their only consideration that neither of us need waste additional time, I'm out.?ÿ I do typically take a moment to educate them as to why price should not be their only criteria but quickly move on if I sense resistance.

In these instances I usually send the proposal, but I mark it up some from what I would otherwise put forth.?ÿ I don't want to be the low man in a bidding contest, and the markup generally takes care of that.?ÿ ?ÿBut I'll take the work if I can make money on it.

I have yet to meet a professional, whether they are a professor or an anesthesiologist, that will discount the value of their education and experience. Moment you agree to play that game, in the eyes of the other person you've degraded the value of what you bring to the table. Reminds me of the old joke, "If I offered you a one million dollars, would you sleep with me?" Yes? "Now that we've established what you are, let's negotiate on that price."

@jim-frame?ÿ I previously worked in a larger city and we would intentionally add items to municipal proposals that we could later mark off. We usually got the job, they got a deal and all was well.

I provided a quote recently on a small lot where they only needed two points for a fence to be built across the back. The site is a 2-hour drive from me and the deed description for the lot and the surrounding tracks are aged, transferred hands a few times and no surveys ever recorded. I knew I was not going to get the job once I had calculated my fee. But I didnƒ??t drop my price just to get the work. I did not get the job. Instead, I had time available in my schedule for work closer to home at a legitimate price.?ÿ

Multimillionaire called me today for a price. I gave him an honest range. He hung up on me. There's a reason they're millionaires.

@bushaxe

Amen.?ÿ

Nobody is trying to negotiate the salaries of the Congress ( no Wendell not political just facts here ????) because they took care of that with the 27th amendment.

Maybe surveyors need to befriend more neurosurgeon and other people that don't have to constantly justify the standard of practice and costs.

@skeeter1996

Decent amount of money in one area I work.?ÿ The rest of my area is probably at, or just below statewide average.

In the affluent area, I find there are 2 types of millionaires.?ÿ The old money, and those who actually work for their wealth.?ÿ The old money - many that became wealthy with family money and reputation apparently have alot of time on their hands, and feel the need to micromanage, and nickel and dime me at every corner.?ÿ The other is the new money, those who worked for their wealth.?ÿ They tend to call, give me the goal that they wish to accomplish and say do it - most never ask for a price, as they know my reputation to get their project accomplished and that is more important than the cost (which is always fair by the way).?ÿ They worked for their money and can recognize someone who does the same.

This is not 100% true for all clients, as I have seen the same types across both lines - however I have seen it enough to also expect it more times than not.

@skeeter1996

All of the people I've ever met, that I considered to have lot of money, all had one thing in common. They didn't like to spend it...

@dougie

Had a fellow 30 years ago (mid-March 1991 to be exact) who claimed he would pay me when his CD was ready to rollover and he would pay me from the interest on that.?ÿ About May 1, as I recall.

@holy-cow

I remember a story about Hetty green:

?ÿ

On July 3, 1916, Green died at age 81 at her son's New York City home.^[12]?ÿAccording to her longstanding "World's Greatest Miser" entry in the?ÿGuinness Book of World Records, she died of?ÿapoplexy?ÿafter arguing with a maid over the virtues of skimmed milk.?ÿThe New York Times?ÿreported she suffered a series of strokes leading up to her death.^[12]

Upon her death, Hetty was known as the "Wizard of Finance" and the "Richest Woman in America."^[5]:290

Estimates of her net worth ranged from $100?ÿmillion to $200?ÿmillion (equivalent to $2.35?ÿbillion to $4.7?ÿbillion in 2021), making her arguably the richest woman in the world at the time.^[3]

She was buried at the Immanuel Cemetery at the?ÿImmanuel Episcopal Church?ÿin Bellows Falls, Vermont, next to her husband. She had converted late in life to his Episcopalian faith so that she could be interred with him.^{[5]:286ƒ??287}

Their two children split her estate, which included a ten-year trust for Sylvia administered by Ned.^[5]:283?ÿThey were reported to have enjoyed their wealth more than she had. Both notably came through the?ÿGreat Depression?ÿrelatively unscathed by following Hetty's philosophy of conservative buying backed by substantial cash reserves. Ned was an accomplished collector with interests in everything from auto racing to science to horticulture. After his death, his sister Sylvia, as heir, donated his?ÿRound Hill, Massachusetts?ÿestate in 1948 to the?ÿMassachusetts Institute of Technology?ÿ(MIT), which used the property for experimentation. These included a prototype?ÿatom smasher. They used his powerful?ÿWMAF?ÿradio transmitters to keep in touch with?ÿRichard E. Byrd's 1928-1930 Antarctic expedition.

Sylvia died in 1951, leaving an estimated $200?ÿmillion and donating all but $1,388,000 to 64 colleges, churches, hospitals, and other charities.^[3]?ÿBoth children were buried near their parents in Bellows Falls.^[13]

There is a book, first published in 1996 called The Millionaire Next Door that documents how most Millionaires live frugally.?ÿ And how those that live more ostentatiously are likely to be high income earners but not rich in terms of accumulated wealth.

Another good read is "The Wealthy Barber."?ÿ The Cliff Notes is "The basis of the book is advice to "save 10 per cent of all that you earn and invest it for long-term growth."?ÿ

I've been friends with several multimillionaires over the years, not doing business with them but crewing on their 2 million dollar racing sailboats and others involving similar social activities such as a Jeepin' in the desert.?ÿ Without exception they were self made men who worked hard to get where they were and treated me as an equal because of my astute skill set.?ÿ One common theme I observed is they were always looking for the best deal and had incisive judgment skills when engaging with their friends and I'd assume their business associates.?ÿ

Then there are the "wanna be rich" folks who penny pinch to the point they have no friends whatsoever.?ÿ They begrudgingly set aside a special payment for the undertaker to pay for pallbearers for their funeral because no one would volunteer to even do that much for them.