A free webinar is taking place this morning on the new referral fees guidance put out by industry regulator the National Trading Standards Estate Agency Team.
It is being led by Mark Hayward, chief executive of NAEA Propertymark, and is open to all agents, regardless of whether they are NAEA members of not.
Hayward says that agents must take the new guidance seriously, since the Government has made it very clear that if the industry does not act voluntarily, referral fees will be banned.
Within the new guidelines, agents now need to disclose in writing, at the earliest opportunity:
- The price of its services, including any “compulsory” extras
- Where a referral arrangement exists, that it exists, and with whom
- Where a transaction-specific referral fee is to be paid, its amount
- Where a referral retainer exists, an estimate of the annual value of that retainer to the estate agent or its value per transaction
- 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 transaction.
The webinar runs this morning from 11am to 11.30am.
https://register.gotowebinar.com/register/600640509765470476?source=Website
Comments (4)
Could spell the end for a genius marketing idea I had of a cheap up front fee but you have to use my solicitor or we charge you more!
So where on your road fund application do DVLA disclose they receive £2.50 from private parking companies for each name and address they provide to them upon request?
Can the webinar be accessed and watched after 11.30 today?
Gosh, thanks for the early notice of your webinar naea propertymark. Really good forward planning. Let people know a few hours before your free webinar? Do you think we are all sitting with blank diaries and nothing to do