At least Denis Cameron appears to understand the problems that high-street conveyancers have with regard to margins (see [2004] Gazette, 8 January, 1).
The naivety of the profession never ceases to astound me.
Practices cut their own throats by undercutting to unrealistic profit levels between one-quarter and one-third of the agent's fees - and we act as their unpaid debt collectors too.
We should be refusing to pay agents unless they pay us (say 5% of their fee) for collecting their fees, not paying them for introductions when half the time those referred were our clients in the first place.
We also have to put up with the inane telephone calls from the 'professional and well trained negotiators' (estate agent's speak) demanding to know 'when are you going to exchange contracts?' Answers such as 'we await a contract' or 'you are organising the mortgage, so you tell us when we can expect an offer' are usually answered by 'so when are you going to exchange contracts?'
David Foden, Fellow of the Institute of Legal Executives, Oswestry, Shropshire
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