Agents are being advised to revise their processes now to accommodate changes to the information required on property details, which begin to come into effect in the coming weeks.
By the end of April all property listings must include the council tax band or rate (for lettings and sales), as well as the property price and tenure information (for sales).
Over the coming weeks, data fields for these particulars will start to appear on the portals.
Then later phases led by the National Trading Standards Estate and Letting Agent Team will mean agents will have to add further ‘material information’ - for example, restrictive covenants, flood risk and other specific factors that may impact certain properties.
Now Ben Ridgway, group managing director of PropTech service Iamproperty, says agents have options.
They could, perhaps, team up with local conveyancers or employ more PropTech, or simply ensure they themselves add the information required by keeping across the changing demands of the three-phase rules change.
Ridgway’s interview with Angels Media chief executive Nat Daniels is a useful summary of what’s coming for agents, and options for coping with it.
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