Edwards Estate Agents

Referral Fees

Compliance with the Consumer Protection from Unfair Trading Regulations 2008

The latest guidance specifically addresses the issue of transparency of fees, including referral fees, within the Estate Agency sector.

An Estate Agent should disclose in plain terms

  1. The price for its services, including any ‘’compulsory’’ extras; and
  2. Where a referral arrangement exists, that it exists and with whom; and
  3. Where a transaction specific referral fee is to be paid, its amount; and
  4. Where a referral retainer exists, an estimate of the annual value of that retainer to the Estate Agent or its value per transaction; and
  5. Where the referral is rewarded other than by payment, an assessment of the annual value of the reward or the value of the reward per

Edwards Estate Agency Ltd (Edwards) refer business to internal departments (however no referral fee is paid) and external companies, and to this end a full disclosure is set out below.

Financial/Mortgage Services

Edwards refer clients to the services of AS Financial Services and receive, on average, a referral fee of £132 on legal completion.

Edwards Also refer clients to Key partnerships and receive a referral fee of between – £100 – £1800 INC VAT depending on the case size.

Conveyancing

Edwards may provide a conveyancing quotation via both Cunningtons and Agency Convey in conjunction with a selected local law firm.  Where a client instructs the Lawyer to proceed with the process Edwards will receive a referral fee between £150.00 – £200.00 + VAT on legal completion.  This fee is included in the law firm’s quotation prior to instruction.

Surveyors

Edwards refer clients to the services of Green Chameleon Surveyors & Hathaway Surveyors and receive, a referral fee of between £20 – £50 either by payment or in a form of Love2shop vouchers.

Information for tenants

If you apply to rent a property from Edwards and choose the option of “Zero deposit” it is declared that the Agent receives a referral fee from “Zero deposit” on average of £14.  You may also choose to use the “Homeshift” service to set up utility accounts and in this instance, the Agent will receive a referral fee from “Homeshift” of £20 including VAT for each gas, electric or a broadband account you take out.

*All clients have the option to deal with any of the above companies or seek alternative providers of these services. 

*Clients are defined as people who have instructed Edwards to sell their property or people who are buying a property through Edwards.

E-Mail
info@movewithedwards.co.uk

Post
30 Meer Street,
Stratford upon Avon,
Warwickshire, CV37 6QB

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Edwards Estate Agents
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Tel: 01789 414 222