Hunters Informs You of Up-to-Date Compliance and Regulation Information
Dual Fees and Previous Agent Agreement Review
If you have instructed another agent on a sole agency and/or sole selling rights basis, the terms of those instructions must be considered to avoid a possible liability to pay two commissions. It would be useful to provide a copy of any current or previous agents agreement to the valuer so that they can advise you accordingly. If you are unable to provide this, then they will be unable to advise as to whether you are in breach of the other agents agreement.
Compliance with Money Laundering Regulations
Should you decide to use Hunters services then the instructed agent will be duty bound to carry out due diligence on you to confirm your identity as prescribed by the Money Laundering Regulations 2017. This information will be processed by the Agent and their staff only to ensure compliance with the Money Laundering Regulation’s and will be shared with your appointed Conveyancing Lawyer. For a seller these consist of checking identity and residency status on signing an Agency Agreement prior to Hunters as the Agent being able to market a property for sale. For a buyer the checking of identity and residency status on acceptance of an offer prior to the production of a Memorandum of Sale.
Compliance when Using Electronic Verification Services
Some of the Hunters branches use an online electronic verification service to check Identity and complete Anti Money Laundering checks: This system allows the Agent to verify you from basic details using electronic data, however it is not a credit check of any kind so will have no effect on you or your credit history. You understand that Hunters will undertake a search with Experian for the purposes of verifying your identity. To do so Experian may check the details you supply against any particulars on any database (public or otherwise) to which they have access. They may also use your details in the future to assist other companies for verification purposes. A record of the search will be retained for 5 years to comply with the regulations.
Transparency with Referral Fee Disclosure
Hunters recommend sellers and buyers use the services of a panel of carefully selected third party providers. Should you decide to use any of the services introduced by Hunters then you should know that we would expect to receive a referral fee from them for the introduction. To confirm what the referral fee amounts would be, please ask the branch direct or review the Supplier List on their branch page at hunters.com.
Please note that you are under no obligation to use any of the services of these recommended providers.
This amount is not gifted to Hunters it enables investment in providing facilities to enable the customer to get information out of hours, improving productivity and transparency of the sales process. All staff work hard to ensure that the whole of the property transaction chain reaches its fruition and that the customer gets the right level of service and the results that they are looking for.
Confirmation of TPO Membership Status
For your further information we would like to inform you that Hunters are members of The Property Ombudsman Scheme for Estate Agents (TPOS). TPOS provides a free, fair and independent service for dealing with any unresolved disputes between yourself and your estate agent and is one of the leading regulating bodies in the industry.