excessive hourly rates

[tali122]

a surveyor takes around 30 minutes do do a house valuation at �300 -that means a rate of �600 per hour - are there any other excessive rates charged per hour(apart from plumbers)

[Buenchico]

�500 per hour wouldn't be unusual for a barrister. A top QC (particularly, say, one who happens to be married to the Prime Minister :-) ) might be able to command fees running into thousands of pounds per hour.

(The really annoying thing about employing the services of a barrister is that the Bar Council prohibits them from entering into a contract with a 'lay person'. You have to go through a solicitor, so you have to pay their charges as well!).

Chris

[rojash]

When you "say around 30 minutes", presumably you mean 30 minutes on site. But there's more to it than that isn't there?

First you ring and speak to a receptionist who has to be paid, in an office which has to be paid for on a telephone system which likewise, is not free.

The surveyor, who has studied for a number of years, and also needs to keep up to date with building regs etc, as well as issues which might be specific to the locality, then has to travel to and from the site (for which he has a right to be paid). If he comes by car, there are petrol and other consumables to take into account, as well as wear and tear on the vehicle.

He will also of course be paying premiums on his professional indemnity insurance.

Having visited the site, he will return to the office, and prepare a report on a computer (expense) which will then be printed (expense) and posted to you (expense).

[Top_Gooner]

30 minutes ? nearer 5 minutes for a valuation.

[buildersmate]

Surely this is the same old chestnut that keeps arising about hourly rates for Services. One simply can't equate the charges by professions/trades to the time spent on site to their potential to earn the same amount for each and every hour throughout the year. E.g. plumber charging �300 per day therefore earns over �70k per year. Quite apart from the overheads that some businesses incur (but not necessarily plumbers) as mentioned by Rojash, not every hour is chargeable. If you knew that a flat-screen TV had less than 2 hours labour to make it, would you still pay over �1500 to buy one? Because you acquire something tangible, it seems more acceptable as an hourly rate?

[Nemesis9]

Gooner a property valuation is entirely different from a survey.

However, here's another one, and forgive me if my maths is out., but a quick calculation regarding the length of time Heather Mills McCartney has been married, and the expected divorce settlement equates to roughly �5,000 per hour. Which if the papers are to be believed is what she use to earn previously. Only this time she was 'earning' it while actually asleep.

[Ethel]

I was shocked and amazed yesterday.

An electrician came to inspect and certify work - I thought it would be a five minute job.

2 and a half hours later, he has finally finished. He was put right a very minor fault and all is well.

Dreading the bill - until he said �50!

Superb.

[Top_Gooner]

Nemesis, the question stated a house valuation, not a survey.

[Kerplunk]

If I get called out on a weekend I get a minimum of 2 hours pay. I can sometimes be in work for only 3 - 5 mins. At my hourly rate that works out at between �480 - �800 an hour.

[Nemesis9]

Gooner, the question says a 'surveyor' carried out the valuation. Second word in if you re-read the question.

I think you are confusing the type of 'market appraisal valuation' that an Estate Agent might undertake to reach a selling price valuation (which could be 5 minutes, but would be at no cost), to that of a 'survey valuation' carried out by a mortgage lender which would take around 30 minutes, and cost around �300.
Incidentally, most of this fee goes to the bank or building society, the surveyor would only see around �75 pounds.

[tali122]

im referring to a basic valuation - 2 A4 Sides of very brief info -all professions have costs to bear regardless of surveyors - so hence �600 per hour is rather eyewatering

[texol]

good god Kerplunk i want your job, what do you do?

[what..the?]

I believe Joan Collins actress was paid �895 a SECOND to talk on stage once, ouch!!

[EBsonicBoom]

If you are unhappy about the hourly rate you are perfectly entitled to ask for a breakdown of the fee at intervals of say 15 mins. If someone charges an hourly rate they should be able to justify the time they charge for.