Hello I was approached by a man from a company a couple of months ago saying that my land was suitable for battery storage. I found him rather pushy and following discussions with a land agent experienced with this type of thing he recommended getting a promotion company involved. This company now has a letter of Authority to apply in my name. I haven't heard much since but they have sent their projected returns. The bit that sticks out is that the promotion company want 30% of the return. I usually thought that it was a 20% return. The other part is that the land agent is wanting me to sign an agreement with them. It clearly states in the agreement that the agent will get nearly £250,000 in various percentage kickbacks from the promotion company should I be successful. This would be roughly 10% of the total return should the project be successful which would account for the promotion company wanting a bigger slice of the cake. The agent will also be getting roughly £20,000 in fees from me in addition to this.
So what is the usual going rate for a promotion company?
How much of a cut does an agent usually take?
Is it usual for an agent to play both sides?
The land agent involved is from one of the larger well known companies.
Thanks in advance.
So what is the usual going rate for a promotion company?
How much of a cut does an agent usually take?
Is it usual for an agent to play both sides?
The land agent involved is from one of the larger well known companies.
Thanks in advance.