Material Information

News at John Francis | 14/03/2022

Propertymark is urging agents to respond to a consultation exercise being conducted by the National Trading Standards Estate and Letting Agents Team. 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 NTSELAT 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 As part of the process Propertymark, the agents’ trade body, is urging agents to have their input to the industry guidance on this issue that NTSELAT will be providing. “It is vital that agents’ views are taken into account and Propertymark strongly encourages anyone with an interest to participate. The intention is that the collection of information will become mandatory when fully agreed and may become a legal requirement as part of the government’s Levelling Up agenda” says a Propertymark statement. It continues: “Propertymark is part of the consortium of industry leaders and has already shown support for NTSELAT's three-phase project.”