Sprift unveils material information solution for agents

Sprift has unveiled its solution to help agents cope with material information requirements and collate the property-specific details required prior to marketing a property.

Users of the property data firm’s tools can now generate a dashboard and report for every property, incorporating 62% of the data required to answer all 59 points of parts A, B and C of material information requirements fully.

The technology also provides 87% of the required information either fully or partially.

This is based on analysis of almost 300 data points for 29.7m residential properties.

The Sprift development team worked throughout 2023 to ensure accuracy and that latest datasets including instruction type, flood and erosion risk from surface water and coastal erosion, were included in anticipation of the release last November of the updated material information rules.

The report can be taken to a market appraisal and other parts can be checked with the vendor.

Sprift founder Matt Gilpin said: “We’ve been preparing for the rollout of parts B and C of Material Information for over a year, so that we had a solution ready and waiting for agents as soon as the requirements were confirmed by Trading Standards.  

“All the hard work by our data science team has now paid off, as we are able to ‘hit the ground running’ with the vast majority of information that agents will require in order to stay compliant available within seconds via the Sprift platform.”

He said the data the Sprift platform provides means that only minimal additional questions need to be asked of the vendor to confirm all the information required and prepare the particulars and start marketing the property.  

Gilpin added: “Any concerns agents held previously around material information being compared to HIPS in terms of being a blocker to getting a property listed can be reassured that this new legislation, with the correct approach, isn’t going to create any further delays in launching stock to market.  We can empower the agent to ensure that they are compliant with the regulations within minutes, not days or weeks.”