Material information rules: Rightmove and The Guild launch agency webinars

A series of webinars have been unveiled to help agents prepare for new material information rules.

Rightmove said it is providing a range of resources to help agents understand and comply with the new guidance from National Trading Standards Estate and Letting Agency Team (NTSELAT).

It is is hosting a webinar for agents with NTSELAT today at 10am.

James Munro, head of National Trading Standards Estate and Letting Agency Team and Emma Cooke, policy and information manager will go through the newly released guidance, and Rightmove’s general counsel David Cox will share what Rightmove is doing to help agents comply.

Agents can submit questions in advance for NTSELAT and register at: https://hub.rightmove.co.uk/material-information-your-guide-to-parts-b-c/

Meanwhile,  December’s News Hour with David Cox at 10am on 12 December will focus on material information.

Agents can submit questions in advance for David and register at: https://hub.rightmove.co.uk/december-news-hour-with-david-cox/

The Guild of Property Professionals is also hosting a Q&A webinar for members on 5 December. 

Hosting webinar is Paul Offley, compliance officer at The Guild of Property Professionals.

Commenting on the latest published guidelines, he said: “Whilst this is not new legislation in itself it is good to have some clarity and consistency on what is deemed material information. This will help sales and lettings agents ensure that those involved with the transaction have all the information required to make an informed decision. 

“Whilst this may mean some changes in the information obtained in the long term, it has the real benefit of reducing queries at a later date and therefore giving an opportunity to reduce the time between sale agreed and exchange, as well as the number of fall throughs. As with all change it may take time to fully embed but this is a major step in the industry looking at how it can improve the home buying process. Overall, a good way forward for both consumers and agents.”

Offley stressed the critical role of these changes, underlining potential legal consequences for agents who fail to adhere to these guidelines. He added: "The changes are designed to empower buyers by providing them with access to all material information necessary to make informed decisions. Failing to disclose such information may result in agents being in breach of Consumer Protection Regulations from Unfair Trading."

Starting from the implementation date, estate and lettings agents will be responsible for providing additional information on all property portals, websites, and brochures, ensuring that buyers and tenants have access to comprehensive and pertinent data that facilitates their decision-making.

The webinars will offer detailed insights into the new requirements and where to source the necessary information. 

Offley said: "The commitment of estate and lettings agents to transparency and compliance is not only pivotal in safeguarding their clients but also in elevating the trust and integrity of the UK property market. Together, we can create a more transparent and trustworthy property market in the UK."