Have your say in the future of material information

The National Trading Standards Estate and Letting Agency Team (NTSELAT) is working with industry stakeholders to design standards on the key information that must be included in all property listings.

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As part of the ongoing improvements, NTSELAT is keen to support the production of industry guidance and has created an open group for contributions. It is vital that agents’ views are taken into account and Propertymark strongly encourages anyone with an interest to participate.

Sign up to here to provide your views  →

The intention is that the collection of information will become mandatory when fully agreed and may become a legal requirement as part of the UK Government’s Levelling Up agenda. 

NTSELAT three-phase project

Propertymark is part of the consortium of industry leaders and has already shown support for NTSELAT's three-phase project. Part A will come into effect in May 2022 that requires a council tax band or rate, price, and tenure to be included. Portals are now being updated to include those fields. 

Part B will extend the requirement to include utilities and similar charges which will affect all properties, and Part C will cover types of information that will vary by property, such as factors relating to the location.

NTSELAT.jpg
21 Feb 2022
Material information for property listings rules updated

Under newly announced rules by the National Trading Standards Estate and Letting Agency Team (NTSELAT), a property's council tax band or rate, price and tenure (for sales) must now be included on all property listings by the end of May 2022.

Consumer protection

Under current legislation, as set out in the Consumer Protection from Unfair Trading Regulations 2008, estate and letting agents are legally obliged not to omit material information from consumers on property listings, however current disclosure practices are not consistent across the industry. 

Research carried out by NTSELAT showed that over 90 per cent of agents surveyed supported proposals for mandatory information requirements. Benefits cited include a reduction in unnecessary enquiries, swifter sales, and fewer transaction fall-throughs, all of which can only be good news. However, it is essential that the information requirements cover all the areas needed, which is why it is vital that agents share their knowledge and experience.

Sales Protocol Toolkit

Part of Propertymark’s Sales Protocol Toolkit is a Property Information Questionnaire (PIQ) which we encourage members to use and work with vendors as omissions and inaccuracies often lead to delays in transactions. It will help disclose any issues that would affect the transactional decision of the average consumer.

Propertymark Professional Information Questionnaire for sales
28 Jan 2020
Property Information Questionnaire (PIQ) for sales

Having contributed members views to the NTSELAT working group developing guidance on Material Information, Propertymark’s Property Information Questionnaire (PIQ) is a credible structure to underpin the work property agents do with their clients to gather information.

Propertymark Property Information Questionnaire lettings
04 Jan 2018
Property Information Questionnaire (PIQ) for lettings

Under the Consumer Protection from Unfair Trading Regulations, both the landlord and letting agent must disclose anything within their knowledge that would affect the transactional decision of the average consumer.