Time wasters affect many industries. I heard horror stories from real estate agent.
I myself was involved in negociating the sale of a golf course as a laŵyer. Potential buyer was presented as a rich man from the middle east. My client did preliminary due dilligence to qualify the buyer.He had a nice car and designer clothing.First info seemedncredible. Turned out, the potential buyer had not enough money and was just negociating for fun. He was doing the dealing himself and was not using a lawyer. This was fishy. It lasted weeks. We just wasted time until we uncovered his game and got confirmation that he did not have access to the cash to make the deal.
If I am contacted by a new, I always ask ŵhere they got my name and contact information. If it is random because of a website or likedin, it usually is a waste of time. If it is a business reference, I always call the contact to get inside info. Last test : I tell them upfront it is 530$ per hour to meet and usually files always cost more than 5000$. When I had my firm, I asked a deposit to cover 50% of the estimated fees and put it in my in trust account. No free meeting. If they accept without complaing, its a good start. Once we meet, if I can't help, I usuallly waive the fee and try to find a reference. I am honest. If the person is a nut job, I send them to see Raymond Chabot Grant Thornton.