Did you know? The Property Ladder Group are the leading independent property sales service provider in the UK. We are relied upon by leading law firms, Probate houses and legal professionals to provide full property support for matters such as Probate, Court of Protection and Trust.
PLG clients are assured when it comes to our services, they are kept compliant – something that is constantly under the spotlight within the legal sector, and rightfully so.
One grey area, is when it comes to instructing the property to market for sale. In many towns solicitors have preferred estate agents, and a reciprocal arrangement is in place where by conveyancing leads are passed to the law firm in return for property sales from the Private Client Team.
The Problem
If a customer was to ask you the question “why did you use that estate agent, is there a reciprocal arrangement in place?” How do you reply? If the agent issues you with conveyancing leads you are legally required to hand over this information. The customer can then argue, is your choice of agent based on what suits the needs of your law firm rather than that of themselves.
Here is a case study of a matter our Co-Founder, Darren Leggett was involved in earlier this year, with a law firm based in the Southwest.
Case Study
“I was contacted to carry out a IHT Valuation Appraisal on a property, by a solicitor acting as the Executor on an estate he was administrating. My team completed the report and issued it to the solicitor within the usual few days. Our findings fell in with what the beneficiaries were expecting and our appraisal was put forward as the legal valuation documentation.
In the meantime, one of the estate agents who visited the property for me, and is known by the solicitor, approached the law firm directly and asked if he could have first ‘crack’ at selling the property. My client agreed after kindly informing me of his intentions, and the property was placed to market.
Within a few days the son of the deceased visited the solicitor and asked the question as to why he had instructed the marketing estate agent, then specifically asked the question – Do they send business to you?
The solicitor had to confirm there was a reciprocal agreement in place, however the agent was one of great reputation and that he was trusted.
The beneficiary was not moved by the reassurance and to cut a very long story down, Executorship was removed from the firm and a formal complaint logged’.
The Solution
Now this is an extreme story, however it happened. The question is, is there a way to keep your agents happy, the client happy, and yourselves compliant and safeguarded from the same situation?
At The Property Ladder Group we specialise in working with local estate agents to our clients, regardless of where in the UK you may be. So if you have estate agents referring conveyancing to you in return for Probate or Court of Protection property sales, PLG are able to facilitate a way forward that allows all parties peace of mind.
Better than your agents receiving leads on a rotational basis, they will in fact get every instruction that becomes available so their opportunity to sell will in fact increase. In addition, if they meet our standards we will happily use them for other property we have become available, so our involvement could seriously benefit them!
By using PLG as an independent governing body, you are able to ensure that all the relevant paperwork is readily available to confirm:
- Viewing levels and feedback
- What marketing has been used to secure viewers
- Confirmation of all offers, buyer positions and financial qualification
This can be delivered to your clients as well as yourself demonstrating due diligence has been adhered to.
Contact our team today to see how we can help you evolve the service you deliver to your clients, visit our website or call 0330 124 7434 or email info@theplgroup.co.uk
