National Trading Standards Estate and Letting Agency Team (NTSELAT) is working with input from property portals and industry bodies to explore how they can make it easier for agents to provide more material information in property listings. This will provide greater clarity and consistency for agents across the industry.
Estate and letting agents have a legal obligation under the Consumer Protection from Unfair Trading Regulations 2008 not to omit material information when marketing property to consumers. But – what constitutes ‘material information’?
Although the amount of material information will vary (sometimes considerably) from one property to the next, NTSELAT think there is a certain amount of basic information which is relevant to almost all property listings.
NTSELAT want to hear your thoughts, which is why they are asking any agents involved in property transactions – whether it’s sales, lettings or both – to complete this survey, which will help inform guidance and advice about material information. This guidance will be designed to help provide clarity around the legislation and ensure consistency across the country.