Under the scheme any estate agency branch with an average of 5 listings per week and a 50% sale ratio (i.e. 2.5 sales per week) will earn over £30,000 per annum in additional income, according to LMS.
This could prove invaluable in current market conditions, according to Dom Toller, director of marketing and new business. “I am delighted to announce the launch of our combined HIP and conveyancing rebate scheme,” he said. “Given the current economic climate, property news only seems to be doom and gloom. However, this is a positive story and the scheme is designed to save estate agents both time and money. The choice comes down to the estate agent as to whether they want to keep the money as additional revenue in this tough market or pass the savings on to their clients.”
Conveyancing must be instructed at the same time as the HIP and this can easily be done by just ticking a box on the LMS HIP instruction website. In addition, the scheme is flexible allowing estate agents both the choice of which law firm to instruct and what commission they wish to earn from both HIPs and conveyancing as LMS’ usual commission rates still apply in addition to the rebate.
This new rebate scheme will be available from 9th June onwards and rebates will be paid to the estate agent after the HIP has been completed.
