Estate agent referral fees
Estate agent referral fees are often used between estate agents and the solicitors they recommend. This involves a law firm paying an estate agent for introducing them to a new client. Estate agent referral fees normally range from £100 – £300.
In February 2019, the National Trading Standards Estate Agency Team introduced new industry guidance to ensure estate agents disclosed any referral fee arrangement they have with law firms they recommend, including the value of any fee paid.
If you are considering using a law firm that an estate agent has recommended to you, we strongly advise that you seek clarification on any referral fee arrangement that may be in place.
Rix & Kay’s approach to referral fees
Rix & Kay has taken a strategic decision to not engage with estate agents on a referral fee basis. Instead, our business is driven through recommendations from estate agents who work with us because they are confident that we support transactions in a way that ensures they complete quickly and with minimal stress. We think this is more beneficial for everyone – us, the estate agent and our client.