Issue 37 2015

Quantity Surveyors shouldn’t offer referral fees

Some industries rely on commissions and referral fees. The nature of a reward payment system is intrinsically linked to the result achieved in such industries. This is not the case with property depreciation.

If a professional consulting business offers referral fees or kickbacks, the quality of the service and advice being offered is jeopardised. The reason for the recommendation should be disclosed.

A number of depreciation providers buy referrals by giving the referrer a cash kickback. We want to clarify that BMT Tax Depreciation do not offer referral fees or monetary incentives when valued referrers send their clients our way. Property investors should know they are being referred to BMT because we are specialists in our field, trusted to produce a quality result with the maximum legitimate deductions.

Accountants and Property Professionals refer their clients to BMT because we provide a first class service and a premium depreciation schedule. Our offering should reflect well on our referring partners and add value to their business. There is no value which can be placed on excellent customer service.

If your Tax Advisor or Real Estate Professional refers you to a depreciation provider, ask if they are receiving a referral fee. If so, ask yourself, ‘why would a consultant need to pay someone to refer their product?’