Trading Standards has insisted it is still on track to introduce parts B and C of material changes rules for property listings this Autumn.
It comes after James Munro, head of the National Trading Standards Estate and Letting Agency Team (NTSELAT) said in a Bold Legal Group podcast in September – redistributed this week to boost awareness of the material information rules- that parts B and C can be expected in October.
That deadline appears to have been missed but a Trading Standards spokesperson yesterday told Estate Agent Today: “We’re working closely with property portals – and the industry more widely – to ensure more material information is made available on property listings so that consumers can make informed decisions and agents can meet their legal requirements at the very beginning of the consumer journey.
"This will provide greater clarity and consistency across the industry, saving agents time and money on wasted enquires and legal disputes while protecting consumers from nasty surprises.
“The guidance has been split into three phases - Part A of this process was launched last year and Parts B and C are expected to be published this autumn. These will include material information such as non-standard construction and developments as well as restrictive covenants, flood risk and other specific factors that may impact certain properties.”
Property listings have been required to include material information such as leasehold terms, council tax information and price since June 2022, under Part A of the Trading Standards’ reform.
Part B and C will require agents to include information such as restrictive covenants and utilities on their property marketing.
Munro also said in June that the reforms would be introduced this Autumn.
That does technically give the industry watchdog until the end of December.
Munro said on the podcast: “(Parts B and C) cover things that are either directly relating to the property such as the availably of utilities and then issues that are directly affecting the property such as flood risk and building safety, restrictive covenants and easements.
“We anticipated releasing this in the early Autumn, the steering group are considering the final draft of the guidance, as soon as that has been agreed and signed off, an announcement will be made.
“I would anticipate October time”.
He also gave further insight on the podcast about what material information should mean for agents.
Munro said: “Broadly are looking at information that if somebody as to some point down the line thinks had I known that at the outset I would never have arranged a viewing, even as much as making contact with an agent, that is material information that needs to be disclosed.”
Rob Hailstone, chief executive of the Bold Legal Group network and host of the podcast, told Estate Agent Today: "I think they are continuing to work with the steering committee to get the guidance as accurate and as comprehensive as possible before releasing phases B and C - and it is taking longer than anticipated."
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These deeply flawed proposals are meeting considerable resistance, both from estate agents and many property lawyers.
Estate agents are asking why they are being asked to supplant/undermine the historically respected role of the legal profession. These ideas based on what happens in Norway and elsewhere haven't been properly thought through.
How on earth could an agent decide what material information is? The proposals are counter-intuitive for the vast majority of estate agents. Their primary function is to sell property not to convey it.
The 'steering group' advising National Trading Standards includes a trade body The Conveyancing Association, which only represents a minority of property lawyers in the UK.
Imagine buying a car and having to pay an expert to tell you the mpg
This assumes that buyers don't do any due diligence of their own and aren't intelligent enough to carry out a simple google search to find information that is easily accessible in the public domain.
This information is usually gathered as part of the conveyancing process and the onus should be on sellers and their legal representative to provide it, not the agent.
Why don't trading standards provide access to this information on a .gov portal, so that buyers can easily access it, even if they have to pay a small fee. Otherwise its just more work for agents that they shouldn't be doing?
Upfront info is provided in many countries and guess what the agent charges a higher fee, and less fall throughs
I know you are deeply opposed to these changes Stephen, and your questions/objections are all rather late in coming. Opposed or not, lots of conveyancers are talking to their estate agent contacts about how best to implement the changes, which in my opinion is a sensible proactive approach.
Afternoon Rob
How can my objections be 'late in coming' in respect of something which still hasn't yet been published?
Curious comments.
Many of the estate agents I speak to do not understand why they are being dragged into this mess.
It is neither sensible nor proactive to fragment a process especially if it is being done for all the wrong reasons.
These new rules will also apply to auctioneers who will also need to make this information available upfront on their sales particulars and not leave it to prospective bidders to find out later in the legal pack.
"I would anticipate October time" - ha ha!
If we can we supply virtually the whole contract pack to someone contemplating an offer - why make a decision on what you will offer without knowing what you are buying - all agents should do this - the info needs to be collated - why not collate it before launching?Top of our web page Cooper Adams under sellers look at Buyer Information Pack
I want agents to issue the draft contract pack when a sale is agreed
Like in Norway and Cyprus?
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