Referral Fees

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

Livingston Clark 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.

AGENCY SECTOR

Livingston Clark refer clients to the services of Corkers Financial Services and Sage Mortgage and Protection, and receive a referral fee of 20% on legal completion.

LEGAL CONVEYANCERS

Livingston Clark refer clients to the services of Winston Solicitors and receive a referral fee of £100 on legal completion.