Estate Agents have been able to earn commission from referring clients to chosen suppliers of additional conveyancing services for many years now, all be it from energy assessors, surveyors, mortgage brokers or conveyancers. What are the benefits and the pitfalls?
The obvious benefit is additional much needed revenue during these difficult market conditions. With sales commission being squeezed, every discerning businessman and woman needs to consider the financial benefits of maximising the sales of “peripheral products”, such as legal referrals and EPCs that can make a material difference to the bottom line.
The key is to work with suppliers who provide a great service and do so at a cost effective price. Such suppliers are few and far between. The cost to your business reputation of working with a supplier that does not perform effectively can be huge, far outweighing the potential commission that you could earn.
Rob Hosier, Sales Account Manager at Convey Law, comments “Our introducers of business know that their clients will receive a market leading service, and that our fees are very competitive. The ability to earn commission is solely controlled by the introducer, they decide how much they want to earn per case. We make sure that the client always receives a great service at a competitive price and everyone is happy.”
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