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Estate agents failing to disclose key property information soon enough – Trading Standards

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  • 28/02/2020
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Estate agents failing to disclose key property information soon enough – Trading Standards
The way properties are listed on estate agency and property portals is “not looking good”, James Munro, senior manager at National Trading Standards has said.

 

Speaking at the NAEA Propertymark annual conference in London, Munro said all material information about a property needed to be disclosed at the earliest opportunity so buyers could make an informed decision. 

“The days of putting a property on the market just to see what it would do are gone,” he said. 

Certain information which might be overlooked, such as broadband speed, was as important as anything else as it could also be used as a marketing opportunity for estate agents, Munro added.

The government is currently consulting on how tenure must be disclosed on portals, Munro said, as it was found to be a factor which caused the most issues during transactions.

During the presentation, he shared a screenshot of a flat in London which was listed with no ownership details.

Munro added: “People need to know all of that information; not halfway down the line, when solicitors and conveyancers get involved. It needs to be there right from the start. 

“Any property that’s listed on any of the portals needs to have this information because quite frankly, the situation out there is not looking good.”

 

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