Propertymark is actively engaging with members and the UK Government to ensure that reforms reflect the realities faced by agents on the ground and lead to meaningful, lasting improvements in property transactions.
Why reform is needed
The home buying and selling process has become slower and more fragile over time. Transaction times have increased significantly, and failed sales are now a common feature of the market. Propertymark’s evidence shows that far fewer transactions now progress from offer to exchange within 12 weeks compared to a decade ago, while fall-throughs continue to rise.
Members consistently report that delays, duplication of information and poor coordination between parties increase costs for agents and consumers alike. Every failed sale represents lost time, wasted fees and reduced confidence in the system.
Upfront information: the right information at the right time
A central proposal is the introduction of mandatory upfront property information. Propertymark recognises that early access to accurate information can reduce delays, support lending decisions and prevent buyers from withdrawing later in the process.
However, we have been clear that how information is presented is just as important as what is provided. Long, generic lists of material information risk overwhelming buyers and being ignored altogether.
Instead, there must be a single, trusted set of material information used consistently across the process and a clear differentiation between information needed by buyers and the more detailed data required by professionals.
Early discussions should take place between agents and buyers to highlight issues that could affect affordability or suitability, ensuring that key risks are identified before an offer is made, reducing avoidable fall-throughs.
Reducing duplication and improving coordination
At present, sellers are often asked to provide the same information multiple times by different organisations, slowing progress and increasing frustration. Digital reform must focus on interoperability and accessibility, rather than creating new silos.
The creation of a single digital access point for property and transaction data would allow information to be shared securely between agents, conveyancers, lenders and other parties, reducing repetition and improving trust in the data being used.
Raising standards across estate agency
We have consistently stressed that reform will only succeed if professional standards are improved across the sector. While many agents are qualified and operate to high standards, there is currently no requirement for all estate agents to be trained, qualified, or members of a professional body.
Mandatory membership of a UK Government-approved organisation would secure delivery of minimum qualification requirements, ongoing Continuing Professional Development, and a clear and enforceable Code of Practice. Raising standards in this way would improve consistency, support consumer confidence, and help ensure that agents are equipped to manage increasingly complex transactions.
Supporting consumers and building confidence
Better informed consumers are a core objective of the reforms, and Propertymark advocates for greater transparency about the home buying and selling process. Clear guidance, improved standards and better communication can all help buyers and sellers understand what to expect and where responsibilities lie.
We have also highlighted that reform should not unintentionally increase costs or complexity for consumers. Alongside faster transactions and fewer fall-throughs, reducing overall costs and improving consumer satisfaction should be explicit objectives of reform.
Proceed with caution on streamlining checks
The UK Government must be cautious about moves to streamline anti-money laundering checks. Multiple checks by supervised professionals provide important safeguards, and reducing oversight could increase risk.
Propertymark recommends a focus on enabling information already provided by clients to be shared securely between organisations, rather than removing checks altogether.
