Purplebricks has said that it does not receive all of the referral fee in online quotations.
An online conveyancing quotation document we have seen spells out a legal fee of £599, and appears to explain that Purplebricks gets the lion’s share of the money – £426.50.
The rest of the money would presumably go to eZie, part of My Home Move.
In the document we have seen giving conveyancing information, Purplebricks discloses under the heading of ‘important info’: “The introducer who has provided this quotation has suggested that you use a particular lawyer for your conveyancing.
“The introducer is required to advise you that it has a financial arrangement with the lawyer and that the lawyer will pay a referral fee to the introducer and an administration fee to the panel manager, these total £426.50 + VAT. The lawyer is totally independent from the introducer and the lawyer will act only on your instructions and always in your best interests.”
We asked Purplebricks about this, and a spokesperson yesterday told us: “The quotation provided is a mix of a referral fee and management fees charged by My Home Move.
“We do not receive all of the payment disclosed.
“The fees our customers pay are extremely competitive and track favourably against a number of corporate and independent estate agents.
“It is common knowledge that estate agents receive a referral fee and again what we receive is in no way out of context with the market and in particular against the estate agents we track.
“We recommend many of the first class firms that are recommended by other estate agents in the industry because of the service they provide.”