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
Dafydd Hardy Estate Agents Ltd (Dafydd Hardy) 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.
Dafydd Hardy refer clients to the services of Mortgage Advice Bureau and receive, on average, a referral fee of £250.00 on legal completion.
Dafydd Hardy are part of the Relocation Agent Network which have associated offices throughout the UK. As members Dafydd Hardyreceive a referral fee, amounting to 20% of the recommended Agents’ selling fee, should Dafydd Hardy refer a client who subsequently sells through that agent. The referral fee is paid from the commission agreed between the Agent and the introduced seller. If Dafydd Hardy introduce a buyer/applicant to a member agent Dafydd Hardy receive 5% of the sales fee. This is a national agreement between all members.
Dafydd Hardy refer clients to the services of Huddle UK and receive, on average, a referral fee of £50.00 on the take up of a household to the utility providers services.
*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 Dafydd Hardy to sell their property or people who are buying a property through a Dafydd Hardy branch.
"Thank you to Sue Morris for making the purchase of our holiday home so easy. Even during the anxious couple of days trying to fix a date for exchange and completion Sue assisted wherever she could to make it happen and if Sue wasn't available she always made sure that she made time to return your call. Excellent service all round "
© Dafydd Hardy 2020
ICO No. Z5270977, VAT No. 862 733902 , TPO No. T01711, RICS Ref. 006976 , Rent Smart Wales. LR-13005-838
Dafydd Hardy is a trading name of Dafydd Hardy Estate Agents Ltd, Registered Company Number: 03733706
Registered Office: Victoria House, Plas Llwyd Terrace Bangor, Gwynedd, LL57 1UB