Channel 4 News uncover estate agent fees for HIP Recommendations
Channel 4 News has uncovered evidence that in some cases, up to £100 is being added to the fee for a HIP (Home Information Pack) due to clandestine arrangements between estate agents and HIP providers.
Get your HIP direct from the Home Information Pack provider via reallymoving.com, and cut out the potential excess fee to an estate agent.
Paul Marsh, President of theLaw Society says: "The cost of the HIP charged to the home seller by the estate agent could be much higher than necessary and more than the agent actually pays the HIP provider. Because of these hidden referral fees the estate agent is overcharging the seller and making a secret profit.
"Sellers should ask for details of the exact costs to discover if the agent is charging them more than they should be, and more than the HIP actually cost the estate agent. They should also ask if the estate agent is receiving a hidden commission from the HIP provider, which would mean the estate agents are keeping part of the cost themselves.
"If the agent is paying £300 to the HIP provider and then charging their client £400 the client is paying an extra £100 unnecessarily. With the other costs involved in selling, these added costs are unwanted extras."
Link to Channel 4 News with more information:
http://www.channel4.com/news/articles/business_money/agents+get+hips+hidden+payments/3152457