And it goes a little something like this...

From our research into Ernest Wilson and other similar business transfer agents who operate in this Wild West industry we've found an alarming pattern:

1. Tell your prospective client that you have a database of people who are definitely interested in buying your business.
2. Sign them up quickly, after all it's going to sell soon!
3. Nothing happens.
4. The client becomes suspicious. Maybe they start looking for reviews of you on the internet, using a search term like 'Ernest Wilson review' or similar. Oh dear.
5. Never mind though, by then it's far too late. They've signed up, the fees are increasing by the day and, oh dear, you have no alternative but to sue them! Oh dear indeed!
6. Collect money and look for next sucker client.

Business Transfer Agents, as seen on TV

Possibly old news but the activities of business transfer agents have reached the attention of BBC TV's Rip-Off Britain. There's a Youtube clip at www.youtube.com/watch?v=k3DO5ZSjfas&noredirect=1.

Ernest Wilson Will See You Now (in court)

A further Freedom of Information request has revealed that the time period for the 49 claims issued through the small claims court by Ernest Wilson was June 2012 to November 2013.

That's 49 claims in 15 - 16 months!

So, using the rule of thumb calculations discussed earlier, if you're a client of Ernest Wilson's then you have a 10-15% chance of being taking to the small claims court by them.

So far we've been unable to find out how many claims Ernest Wilson has made through other courts (generally these would be over the small claims threshold of £10,000) so the percentage is probably slightly higher.

Ernest Wilson and Freedom of Information

An enquiry to the Small Claims Court under the Freedom of Information Act has revealed that Ernest Wilson has made 49 claims!

Yes, 49.

We've been told that Ernest Wilson has its own internal department dealing exclusively with court claims - looks like they're busy.

If you're one of the 49, or worried about becoming number 50, we'd love to hear from you.

Business Agents Require Better Regulation

That's the title of this petition.

A worthy cause, please sign it!

As an aside...

Borrowed from another angry voice - we thought this quote had a certain resonance:

Ernest Wilson on the web

Ernest Wilson's main website is http://www.ernest-wilson.co.uk/ and there's also a live blogspot site at http://ernest-wilson-business-sales.blogspot.co.uk/ (there are also a couple of other blogspot sites which haven't been updated recently).

A search of the sites shows 767 properties currently advertised and around 250-300 sold per year. This fits in with the 'thirds' rule of thumb that roughly 1/3 of properties sell quickly, 1/3 sell eventually and 1/3 are unlikely to sell. (Of course, the agent gets their fees either way...)

Ernest Wilson is mentioned a few times on Just Answer and there were some interesting reviews on Qype which were deleted but the archive remains - links below. There was also an "Ernest Wilson in the North of England" complaints website and an entry on canyoutrustthem.com but both have disappeared without trace.

Also worth a read are the websites set up by customers of other business transfer agents.

Campaign for Ethical Business Transfer Agents - http://www.cebta.org.uk/
Turner Butler Complaints - http://turnerbutlercomplaints.com/
Phoenix Complaints (update 16/9/14 - now defunct, sadly) - http://www.phoenixcomplaints.co.uk/
Daily Mirror - http://www.mirror.co.uk/news/uk-news/companies-like-rta-tell-you-2789433
Just Answer -
http://www.justanswer.com/uk-law/3i4u1-received-county-court-claim-claimant-ernest.html
http://www.justanswer.com/law/0gdb2-list-cases-involving-ernest-wilson-valuer-surveyor-leeds-b.html
http://www.justanswer.com/uk-law/3cm6m-hi-name-xxxxx-xxxxx-instructed-company.html
http://www.justanswer.com/uk-law/30m3w-put-business-sale-when-low-point-signed.html
Wayback Machine archive of Qype - http://web.archive.org/web/20121130090636/http://www.qype.co.uk/place/1248449-Ernest-Wilson-Leeds
Legal Beagles forum - http://www.legalbeagles.info/forums/showthread.php?43419-Ernest-Wilson
UK Business forum - http://www.ukbusinessforums.co.uk/threads/ernest-wilson.61219/

Ernest Wilson's finances

A few minutes and a couple of quid invested at the Companies House website (it even accepts Paypal!) reveals some interesting information.

Ernest Wilson's & Co Ltd was incorporated in 1995 (also incorporated at the same address in 2013 and sharing two out of three directors was Ernest Wilson's (West Yorkshire) Limited).

Ernest Wilson's & Co Ltd is owned by "R Williamson" (presumably Robert Williamson) with a 90% stake and Paul Williamson with 10% and its directors are Paul Williamson, David Holmes and Stuart Moorhouse.

Accounts to 2012 are available and have been prepared according to the small companies exemption so there's nothing about turnover etc. but what is surprising is the large debtors figure, £792,000, for 2011, against cash at bank and in hand of £35,000. Debtors are reduced to £104,000 in 2012 but the cash figure increases to £308,000.

As non-accountants we're speculating here: maybe EW had a large sum of marketing fees outstanding on its books on 2011 and sold the debts on? If anyone would care to give an informed opinion we'd love to hear it.

Ernest Wilson and (lack of) regulation

All of the information below is available on the internet, either for free or for a small charge, it's just collated here for reference.

Ernest Wilson were members of the National Association Estate Agents and the Institution of Commercial and Business Agents but despite what a number of websites state (including the website of one of their directors) they're not currently members of either body.

They are registered with the Property Ombudsman.

But...

On the front page of the TPOS website the Property Ombudsman, Christopher Hamer, says

                I'm not a regulator or consumer guardian 

... which doesn't do anything to dispel the ombudsman's a reputation for toothlessness!

Ernest Wilson faced a number of disciplinary hearings with the National Federation of Property Professionals (the umbrella organisation covering NAEA and other related bodies) in 2011 and 2012. Disciplinary hearings are listed at http://www.nfopp-regulation.co.uk/complaints/disciplinary-hearings-and-outcomes.aspx. The tribunal noted that

     This firm’s terms of business, procedures at the point of valuation/instruction and
    throughout the sale process are outdated and unprofessional. The forms and
    paperwork used caused mistrust. Contracts were unclear and unjustified written
    excuses given. Client care is insufficient, leading to client dissatisfaction. There was a
    repeated theme of poor and inadequate response and communication from the staff
    and directors of Ernest Wilson.

No doubt Ernest Wilson will say that they've mended their ways. Their customers may disagree though, of which more later.

Next time, a trip to Companies House...

Ernest Wilson - nobody sells businesses better?

This site is about us, clients of Ernest Wilson, a trading name of Ernest Wilson's & Co Ltd of Leeds, West Yorkshire, UK.

Ernest Wilson's are a business transfer agent dealing mainly with commercial properties (in US parlance, real estate) and small businesses in the North of England.

The company's literature claims that "Nobody Sells Businesses Better!" but apart from a small number of testimonials on their website there is very little in the way of reviews on the web, so we'd welcome any feedback from past, present or even prospective clients of Ernest Wilson. Reviews of other business transfer agents are welcome too. Please contact us using the link on this page.

More information on Ernest Wilson's to follow...