Spectre hails success of fee recovery tool

Spectre has hailed the success of its recently launched fee recovery tool after helping an agent reclaim £7,000 in owed fees.

Launched in March, the prospecting and lead generation provider’s Fee Recovery software identifies the agent’s potential lost revenue through numerous data sources, highlights the opportunity in their Spectre dashboard and offers a specialist legal partner to investigate the case. 

If the tool successfully retrieves a fee for the agent, a percentage fee is paid from the amount won by the agent but there is no fee if the case is unsuccessful.
 

Heather Staff, co-founder of Spectre said: "Our fee recovery tool is helping agents identify hidden revenue opportunities, with one agent successfully reclaiming £7,000 in previously unpaid fees.

“Agents have long faced the challenge of losing fees from withdrawn instructions that later lead to successful sales. Up to 10% of these transactions involve buyers initially introduced by the agent.

“In the past, the process of recovering potential lost fees has been lengthy and complicated - putting agents off looking into whether or not they are missing out on revenue they have worked hard for.

“We’ve designed Spectre's fee recovery tool to be as simple and straightforward as possible. The tool works by purchasing the homeowner details from the Land Registry. If a possible introduction is flagged, agents can instantly refer the case to our specialist partner.”