I’m developing an internal tool for a real estate organization but I’m not sure what to charge them since I don’t want to overvalue or undervalue my services.
What do you mean by internal tool?
If you are as jaded as some of us, assume the project will be a pain and charge what will make you endure that pain.
If you’re doing it alone, it is pretty tricky: charge what will let you leave what you’re currently doing (and factor duration). If you have a team, it is easier: minimum is amount needed to live per individual multiplied by duration of the project. That is the minimum.
You can then look at the worth of what you’re building. If it is solely for this client, you can add a percentage of what they’ll save (or generate) by using your tool. If it is something that will work as a SaaS (Software as a Service), you can charge them lower so they can adopt it and then use their logo as a pretty advert on your tool’s copy (website, brochures and stuff) and make more by selling to others.
If they’re connected in any way to the government (especially Nigerian), assume adoption will be poor (except it generates revenue) and then collect all you can upfront (figuring in all the kickbacks too).
But, in all this, let them give you a quote first. If they do not, send them the pricing of your foreign competition so they can be grounded in reality.