NTSEAT LAUNCHES agent SuRVey INTO USE OF referral fees

National Trading Standards Estate Agency Team (NTSEAT), with the support of The Property Ombudsman and the Property Redress Scheme, have today launched a survey <https://secure.crtviewpoint.com/Online/Survey/36c5c07e-d321-4a6f-a5ca-bfd52f6bbc53> to assess the use of referral fees among estate agents.

Following the published response to the Government’s Call for Evidence on home buying and selling (8th April 2018), Ministry of Housing, Communities & Local Government (MHCLG) have set up a working group to look in greater detail at the issue of estate agents and referral fees.James Munro, Head of NTSEAT, explains: “The consultation responses to whether government should take further action to enforce current transparency regulations regarding the disclosure of referral fees were overwhelmingly supportive. However, at the inaugural meeting, it was decided that more information was required from agents about the nature of fees they currently received. The results of this survey will feed into the working group discussions.”

Addressing delegates at The Property Ombudsman Conference on 13th June, Katrine Sporle, Property Ombudsman, told agents that the case for a complete ban on referral fees remains under review and that greater transparency is required.

In reference to the survey, she comments “We are not asking for agents to incriminate themselves, but government is concerned about transparency and wants consumers to be able to make informed choices. The results of the survey will help provide evidence of how agents currently approach referral fees and allow the working group to discuss how the industry can work together to adopt a standardised approach of up-front disclosure.

Sean Hooker, head of redress at PRS, added “I very much urge agents to take part in the brief survey, so that a complete as possible picture of what happens on the ground is available to the policy makers.

By building a comprehensive profile of referral fees, it will enable the working group to make constructive proposals to the Government that reflect what fees are received, regional differences and how consumers are informed.”

The NTSEAT survey on referral fees will be available for agents to complete until 2nd July 2018.

EAN Content

Content shared by this account is either news shared free by third parties or sponsored (paid for) content from third parties. Please be advised that links to third party websites are not endorsed by Estate Agent Networking - Please do your own research before committing to any third party business promoted on our website. As an Amazon Associate, I earn from qualifying purchases.

You May Also Enjoy

Home and Living

Best Budget Smartphones Under $200

In the rapidly advancing digital era, it’s no longer a luxury but a necessity to have a smartphone. Not everyone however needs or is able to pay hundreds of dollars for an expensive device. The good news is that there are numerous budget smartphones under $200 that provide great performance, decent cameras, and a long…
Read More
Rightmove logo
Breaking News

Ten years on: More first-time buyers moving to cities while the coast stands still

New ten-year analysis of the property market shows that more first-time buyers are looking to move to cities, while the coast has seen no growth in new buyers First-time buyer demand to move to Great Britain’s 50 largest cities (excluding London) is up by 16% on average over the last ten years, with Dundee topping…
Read More
Breaking News

Homeowners in England and Wales overvalue their properties by an average of 16%

Homeowners in England and Wales are overestimating the value of their property by an average of 16%, according to new figures. Data from Quick Move Now compares homeowner estimates with formal estate agent valuations and is broken down by both region and property type. Overall, homeowners overvalue in every single category.   Regional breakdown Region…
Read More
Visual blemishes on Roads due to service upgrades
Estate Agent Talk

Emergency Sidewalk Repairs: When to Act and Who to Call

Sidewalks are the unsung heroes of city infrastructure—quietly assisting tens of millions of footsteps every day. But when they crack, disintegrate, or shift all of sudden, they might quickly turn out to be volatile liabilities. In a town like New York, in which pedestrian site visitors are constant and belongings proprietors are legally chargeable for…
Read More
Breaking News

Reapit report reveals agents’ long-term market confidence amid legislative challenges

Despite the significant challenges posed by a shifting economic landscape and the largest wave of housing legislation in decades, estate and letting agents remain steadfast in their confidence about their long-term future in the industry. According to the first Reapit Property Outlook Report 2025, covering the full breadth of sales and lettings agency opinion countrywide,…
Read More
Breaking News

Owner-Occupiers Drive Resilient Commercial Property Market

Buying Becomes 37% Cheaper Than Renting The latest Commercial Property Demand Index from specialist property finance expert, Rangewell, reveals that while investor appetite across the sector held steady in Q2, strong levels of owner-occupied commercial mortgage activity are helping drive market performance, as business owners increasingly move from renting to buying their long-term premises for…
Read More