Website for professional fees

Published in the Straits Times Forum page on 8 Jan 2011


I refer to the letter from Chan Ban Choon entitled “provide guidelines on lawyers’ fees (ST 4 Jan 2011). Mr. Chan complained that several lawyers have quoted fees varying from $500 to $7,000 for a standard tenancy agreement. He suggested that the law society or relevant government bodies should set guidelines of fees for standard work.


I recall a similar situation a few months ago where the Competition Commission had instructed the medical association to remove their guidelines for medical fees on the grounds that free competition will bring down fees to benefit consumers.


It now seems that consumers are not benefiting from the competitive environment and that professional fees are going up. It is difficult for consumers to know the market rate of fee for a piece of work and to go around asking for quotations.


I suggest that the Competition Commission should set up a website (or outsource the work to an authorised party) to allow professional firms to post their fees for standard types of work This will make it easy for consumers to view the postings, select a professional for the work and negotiate the fees.
This approach is likely to achieve the aim of the competition law to bring down professional fees for the benefit of consumers.


Tan Kin Lian