Published: 10 June 2022
Location: London, UK
Clarity Has Finally Been Dropped On What Information Should Be Disclosed When Marketing Properties.
The National Trading Standards Estate and Letting Agent team have partnered with industry leaders and well-known major property portals in the UK, to provide clarity and protection to home buyers. A three-phase project will soon come into play that all agents must abide by when attempting to sell or let a home to clients.
Information that should be disclosed includes the properties council tax rate or band, and properties for sale must always have the tenure information for potential buyers to see. If price tenure or council tax is left empty by the agent, this will then be flagged up on the listing so that the customers will be able to see what elements are missing.
The property industry is fast changing for the better for home buyers and tenants
The change in the law is to benefit buyers and tenants to ensure that they are able to make an informed decision easily in the process prior to viewing the property. Incorporating further material will also have to be disclosed which includes restrictive covenants and specific factors that can impact the future living in the property, for example, flood damage. The process has been put into place to make buying and letting a home easier and fairer.
Studies have shown that agents are willing to get on board with the change, as it would help to improve the clarity of the industry. 93% of agents have said that they support the process of having to disclose all information regarding property tenure. 88% of agents have also agreed that its vital customers are aware of the leasehold details too.
Rowen Squibb CEO of Why Media says, “Keeping up with regulatory changes are very important at Why Media as we have many clients in the property sector. We need to ensure that we support our clients with the upcoming changes as well as making sure clients old and new are in keeping with the regulator's various/never ending needs.”
Rightmove has advised us that the feed will be updated with the relevant fields from 1st July 2022
- New complaint websites.
- Update your property feeds
- Regulatory changes to your website
- Stationary Updates
- Social Media and literature design changes
Why Media is an award-winning design, marketing, digital communications and PR agency offering tailored solutions to companies on a global scale. We have extensive experience in delivering design and marketing services to a spectrum of companies including professional services, property companies, financial institutions and shopping centres. We have offices in London UK, Hertford UK, Finestrat ES & Brescia IT.