Why is Billing For Real Estate Lawyers Different?
1) Using A Quality Legal Billing Software Program
2) Integrating Your Law Firm Billing Software with Your Finance Software
3) Using a Quality Case Management System to Monitor Different Clients
– segregate receipts of funds on behalf of clients that you need to segregate from the standard legal funds that you receive for services
– allows for a more organized and streamlined manner of organizing your finances relating to the various cases that you handle
– provides a document storage solution for real estate transactions that allow you to easily retrieve data and documents
– provides for a complete billing solution that saves details of your financial documents at all times
4) Use Standard Engagement Letters that Are Complete and Enforceable
Engagement letters between real estate lawyers and clients really protect both parties from potential billing pfoblems that will be encountered and allow for a quick remedy to issues that you are encountered. Engagement letters best serve a purpose when the legal service is contested, particularly in larger real estate transactions or when the deal ultimately falls through and the parties try to avoid their legal bills in what was a fruitless exercise. An signed engagement letter helps to protect the law firm from these situations and protects them from the marked arguments that can arise. It can also help to avoid claims of perjury by your clients and claims that you didn’t properly represent their interests.
5) Use Checkists to Avoid Errors and Missing Billing
Have an organized system to surround your billing and to make sure that customers are billed in a timely manner. Checklists and documented policies and procedures manuals will help to make sure that staff members who are in charge of billing from the law firm billing software program know what steps they need to take at each point and avoid items falling through the cracks.
6) Documenting Expenses and Filing Fees
Real estate firms sometimes need to pay expenses on behalf of clients in order to speed transactions along. Paying reimbursable filing fees and other expenses may be part of the process of being a real estate attorney but firms need to make sure that they recover these costs in addition to the printing fees and other client related costs. Make sure that you Law Firm has a process built in to capture these costs and have them reimbursed by your clients.
7) Hire A Bookkeeper or External Party to Handle Billing
By hiring a bookkeeper or employee designated with billing your real estate attorneys on staff can avoid the call of administrative work and focus on the process of handling customers and not billig. It also avoids the potential inaccuracy in their billing.
8) Having a Client Sign that the Services Were Successfully Completed
Billing disputes can sometimes be avoided when a real estate law firm has a transaction signed off by a client as having been completed. This step, while not always binding in court, can help to avoid billing disputes at the end of a case.