2 minutes reading time
(463 words)
New material info rules mean conveyancers ‘must be on board earlier’
"Last Christmas, I gave you my heart…" 🎶…And also my offer to help with Material Information compliance!
But much like in the song, that offer was overlooked when the article was published, despite my efforts to include it.
It's frustrating to see how commercial dominance and big profits can stifle innovation and suppress adherence to the law. My original offer was about supporting agents, conveyancers, and service suppliers who are genuinely trying to navigate these complex regulations and do the right thing for their clients.
So, I'm reposting the article here, this time with my offer of help included in the comments. If you're struggling with compliance, know that support is available. Let's not allow those who resist change to hold back the progress that benefits us all. Together, we can ensure that compliance is not just a legal requirement, but a step forward for the entire industry.
Original Article:
Industry figure Robert May says the new NTSELAT material information rules [revealed two weeks before this original article was posted] will mean conveyancers must now be brought on board much earlier in the process than before.
May, who has a long track record of tech development within the property industry, says it is the Part C material information, encompassing about 200 data points, which presents the largest challenge.
"These data points must be integrated into the 700 data feeds to Rightmove, Zoopla and OTM in a consistent manner across portals and agent websites," he says.
Part C information includes building safety, restrictions/rights, easements, flood risk and planning permissions, all tricky to gather together and now needed when marketing a property online.
Problem"Legislation change has caused this intricate problem for estate agents and the conveyancing industry alike," he adds. "Conveyancers will need to be introduced much earlier in the property selling process, potentially transforming their role."
In 2020 May built a system in partnership with West Yorkshire estate agent Richard Powell that he says cuts 'a minimum' of three weeks off the conveyancing process and says he now wants to be a conduit for industry collaboration on improving the home moving process and has the backing of Maria Harris, the Chair of industry forum the House Buying and Selling Group.
"I encourage industry professionals to embrace collaboration and expertise-sharing during these challenging times, and believe that collective efforts can pave the way for a more resilient and compliant estate agency sector," he adds.
You can view the original article here:
New material information rules mean conveyancers must be on board earlier
Comment is made by industry figure Robert May, who is keen to help the property industry more collaborative when meeting the challenge of Trading Standards' new rules.
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