Referral Fees

Compliance with the Consumer Protection from Unfair Trading Regulations 2008

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

MICHAEL POOLE 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.

Financial/Mortgage Services

MICHAEL POOLE refer clients to the services of Bespoke Financial Services Group and receive, on average, a referral fee of £300 on legal completion.

Conveyancing

MICHAEL POOLE may provide a conveyancing quotation via LIVE in conjunction with a selected local law firm. Where a client instructs the Lawyer to proceed with the process MICHAEL POOLE will receive a referral fee of an average of £120 on legal completion. This fee is included in the law firm’s quotation prior to instruction and the fee taken is to cover the management of the transaction ensuring close liaison to ensure minimal risk and the provision of a no sale- no fee transaction.

Relocation Agent Network

MICHAEL POOLE are part of the Relocation Agent Network which have associated offices throughout the UK. As members MICHAEL POOLE receive a referral fee, amounting to 20% of the recommended Agents’ selling fee, should MICHAEL POOLE 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 MICHAEL POOLE introduce a buyer/applicant to a member agent MICHAEL POOLE receive 5% of the sales fee. This is a national agreement between all members.


About Us


Having recently been placed in the TOP 3% of all UK agents securing our entry in the Best UK Agents Guide 2020 for both Property Sales and Lettings, Michael Poole Estate Agents continue to be the ‘go to agent’ on Teesside.

For more than 25 years we have provided our clients with an exceptional level of service, whether Buying, Selling or renting on Teesside our family run business will deliver.

Constantly evolving and utilising the latest techniques in both traditional marketing, enhanced by social media and web based platforms, we really do have ‘ ALL THE RIGHT HOMES IN ALL THE RIGHT PLACES’

Contact Us


Michael Poole
64 - 66 Borough Road
Middlesbrough
TS1 2JH
01642 254222

enquires@michaelpoole.co.uk


Michael Poole website - HomepageMichael Poole LinkedInMichael Poole Facebook