Is there anything wrong with referral fees?

As has been well publicised the National Trading Standards Estate and Letting Agency Team (NTSELAT) has been carrying out a review into referral fees in the UK property market following a wider Government call for evidence into the home buying and selling process. Guidance was subsequently published to the industry in reference to disclosure of referral fees. The possibility of an outright ban has been muted unless practises are changed to ensure that any recommendations made in return for a fee are fully disclosed to the customer. Whilst the NTSELAT report specifically sites referral fees in relation to Estate Agents ...