A professional commentator within the conveyancing profession recently described the current state of the industry as a "perfect storm" of change and disruption.
However, in recent discussions, there seems to be some ambiguity around the interpretation of these changes. Some 'professionals' are suggesting that the interpretations provided by the National Trading Standards Estate and Letting Agency Team (NTSELAT) do not constitute "the law," and therefore, they aren't binding. While it's technically true that NTSELAT's guidelines represent their interpretation of the law, it's crucial to understand that these guidelines set the standards that the industry is expected to adhere to.
It's important to remember that NTSELAT oversees the redress schemes that agents must adhere to, such as The Property Ombudsman (TPO) and Property Redress Scheme (PRS). If an agent faces a complaint from an unhappy buyer who feels they haven't received the information they're entitled to, it's likely that these redress schemes will side with the consumer—especially if the agent disregarded NTSELAT's guidelines. Relying on the belief that NTSELAT's guidelines don't apply could leave agents exposed to serious professional and financial risks.
What's more concerning is that some responses to these guidelines have been less than professional. Dismissing well-intentioned advice as "sales talk" and responding with rudeness or aggression only hinders productive dialogue and increases the risk of non-compliance. It is essential that, instead of contemptuously dismissing the help offered by those working to support the profession, practitioners should engage with them constructively. These individuals and organisations are not adversaries but allies, offering guidance to navigate these complex changes.
The reality is that these changes are not just necessary but inevitable. They represent an evolution in legal practice designed to better meet the needs of today's market. Rather than resisting or attempting to split hairs over the interpretation, the profession should focus on understanding and implementing these changes effectively.
Now is the time to follow the example set by thoughtful voices within the profession. By approaching these changes with professionalism, maturity, and a willingness to engage in constructive dialogue, we can navigate this "perfect storm" and emerge stronger and more capable.