With the economy in a slump, many firms are trying different strategies to shore up their balance sheets: cheaper rates, cut associate salary/benefits and even rexamining the billable hour system. But where some see crisis, others see opportunity.Enter legal marketing genius and Vegas attorney, Adam Stokes. Stokes was the original creator behind the Ticket Busters' business model (large quantity of small cases for small fees = big bucks) and he was the original owner of the 444-4444 number. Stokes sold both businesses to Richard Harris, along with some personal injury cases, reportedly for $4 Million. Not bad for three years of work (Stokes was admitted to the NV Bar in 2004).
Well, Stokes is back. He is soon to announce the opening of his next well-named business, Half Price Lawyers (http://www.halfpricelawyers.com/). Pretty smart marketing in this economy. Americans do love a bargain.
Well, Stokes is back. He is soon to announce the opening of his next well-named business, Half Price Lawyers (http://www.halfpricelawyers.com/). Pretty smart marketing in this economy. Americans do love a bargain.
By the way, if you're reading this Mr. Stokes, we're looking for a Director of Marketing here at the blog.
(Thanks to M for the tip)
He's a good marketer, but you get what you pay for. I'd rather pay someone $500/hr. who is an expert than someone $200/hr. who spends ten hours researching what the $500/hr. lawyer already knows off the top of his head.
ReplyDeleteWhy are you shilling for this guy? Yes, people want crap, and yes, Mr. Stokes is out there with a shovel. How is that newsworthy?
ReplyDeleteCriticism noted and feedback appreciated.
ReplyDeleteWe felt the fact that Stokes made millions with that shovel before and he's back for more made the story newsworthy. Also, given the economy, we wondered whether his shovel wouldn't be busier than the shovels at other firms.
Guys like Stokes are the reason lawyers have the reputation they have.
ReplyDeleteHow about 1/2 price for legal malpractice lawyers...
ReplyDeleteNoticing that we are in a deep recession and law firms are looking to cut overhead (which has not yet finished because of the looming collapse of the credit card industry) I would think that any diversification of the local legal industry would be "newsworthy".
ReplyDeleteThe flat-fee model has always existed in LV, but is now gaining mass appeal and is profitable. Unless you are a shoe-in to replace Souter then you should be keeping your finger on the pulse of who might actually be making money and be in a position to hire you.
I wouldn't usually respond to an article, but I thought the article wasn't half bad and thought I would make a couple of comments.
ReplyDeleteWith that said-
1. Somene should have checked some of the facts with me first.
2. Is a $200 per hour lawyer really not as good as a $500 per hour lawyer? Not saying that I am either, but it is an interesting that the anonymous poster thinks he or a client can tell the difference.
3. As far as reputation and malpractice concerns...
Has anyone here actually managed 5,500 ACTIVE clients while retaining over 99+% of them and without any malpractice problems?
4. Are the attorneys at volume based law firms really not as proficient as attorneys who handle far fewer cases? Isn't client volume one way an attorney can become more proficient?
These assumptions and others explain quite easily why some of us are attorney employers and why some are attorney employees. Some of us hate while some of us try to create. Some of us sit in our ivory towers while some really do care to increase access to legal services to those who cannot otherwise afford them. What the first anonymous poster fails to realize is that most clients can neither afford the $200.00 per hour lawyer nor the $500.00 hourly one.
I wish you all good luck in your endeavors. May you all one day have the fortune to appear as the subject of a wildwildlaw blog posting.
adam@halfpricelawyers.com
You're great at making money, I'll give you that. Are you a great attorney - that is, a great legal mind or strategic legal strategist?
ReplyDeleteI doubt it. But good on ya for increasing access to legal services for the average joe. You know your kind well
Adam Stokes is no genius. Unless you call buying an easy to remember phone number genius (and brilliantly exploiting non-English speaking, low-income clients for an early settlement), then I'm wrong.
ReplyDeleteStokes never took any of those cases to trial – in fact he sold Richard Harris all the cases his paralegal could not settle with the insurance companies. Stokes isn’t providing access to justice. He’s only providing access to a bilingual paralegal.
Further, there is no lawyer (or any other professional out there) that has a 99% retention rate for their clients without some level of dissatisfaction. Unless, of course, you're Adam Stokes and 98% of your clients speak only Spanish and live in fear of ICE officials if they even think of filing a malpractice claim (also, there are no billboards that advertise for a malpractice attorney, in Spanish, by calling 444-4444).
Maybe Adam hasn’t heard the phrase: “You get what you pay for.” I don’t think it could be any more appropriate than when talking about “half priced lawyers.”
"2. Is a $200 per hour lawyer really not as good as a $500 per hour lawyer? Not saying that I am either, but it is an interesting that the anonymous poster thinks he or a client can tell the difference."
ReplyDeleteIt depends on the work being done. For bullcrap-level work, the $200/hour lawyer is better. Fot high-level work, the $500/hour lawyer is almost always well worth it in comparison to a wet behind the ears lawyer. Not a question.
I've never heard of Adam Stokes until now.
ReplyDeleteWe are currently hiring attorneys and paralegals. Since most clients speak English, there is no absolute requirement for Spanish proficiency. Of course, foreign language proficiency is a bonus. We offer a strong benefits program and a workplace built on mutual respect and committment to the firm and those who comprise it.
ReplyDeleteBased upon the comments in this forum, let me also add:
1. If you are under the impression that a personal injury case can be sold then you probably should not apply.
2. If you think a paralegal should settle a case rather than an attorney, then you probably should not apply.
3. If you are an outgoing brilliant individual with strong decision making skills and a dedication to client satisfaction, please apply.
Please feel free to fax resumes to 702-400-0001.
I have had one experience with Adam Stokes, back in his 444-4444 days. He had a client with a seemingly legit injury. Solid meds, no liability defenses to speak of, who he let settle for 50% of what he would have gotten had he gone to mediation (not to speak of trial).
ReplyDeleteour client was happy to take the deal, but even our contact sorta felt bad for the guy
I think 50% lawyer is a great idea. I have noticed in the past the people who say nothing but bad things are the same people scared to open their own business and or try something new. Rather they want to collect a paycheck and let someone else figure out how to bring in the business for them.
ReplyDeleteAnon@ 4:34 (Stokes?)
ReplyDeleteNevada Rule of Professional Conduct 1.17 permits you to sell an area of a law practice as long as you leave the practice area for at least 6 months. That appears to be what you did by going "on leave and not accepting new clients." So yes, a PI case can be sold.
"2. If you think a paralegal should settle a case rather than an attorney, then you probably should not apply."I don't think any competent attorney believes a paralegal should settle a case. I believe the previous commenter's statement was that your paralegal was settling your cases. Take from that what you will.
Hey 4:47, it is clear you have limited experience with handling personal injury matters. If you think Mr. Stokes is unique in that he settled a single case for less than it was worth, I recommend you handle more cases. I've worked insurance defense for many years and I'd say that under 5% of attorneys actually settle a case in the claims stage for what I would have paid in litigation. Is that malpractice or bad lawyerin? Heck no, it's called giving the client what they want--a speedy resolution and some quick cash in hand for their "injuries". So what if a case doesn't have a liability defense and involves some significant injuries, that doesn't necessarily mean that it's a gold mine.
ReplyDeleteAdam is a businessman with a great business model. Personally, I think the idea is a great one. Continue to criticize while you sit at your firms and bill for the man, knowing full well that in a lifetime of working you'll never come close to making the millions that Adam made in a few years.
Thanks for sharing.............
ReplyDelete___________________
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