6th November 2023

Property Listings requirement 2.0 – Trading Standards wishing to impose further requirements on agents to disclose more!

Scott Battram

Senior Associate

In 2022, Trading Standards embarked on a three-part mission to increase the information or passing of knowledge on property listings to potential buyers.

The aim: to reduce the amount of unknowns.

Last year saw the requirements for agents to include Council Tax bands, ground rent, service charges, freehold or leasehold, and a Share of Freehold, to name a few, in their property listings. We also saw that ‘Price on Application’ was made unlawful… I hope I can say all good things.

Now, Trading Standards has released that it wishes to push on with the remaining parts of the plan (Part B and C) this autumn; meaning the release of even more information.

The additional information that listings will need to carry will include: 'material information such as non-standard construction and developments (building safety issues) as well as restrictive covenants, parking, flood risk and other specific factors that may impact certain properties’.

I may sound like a broken record player to many who have read my previous commentary [Might property lawyers actually be listened to by the government?], but this would further enhance the need and requirement for a seller or buyer to instruct a conveyancer before embarking on selling or purchasing a property.

AGAIN, this can only be a good thing because all the groundwork will/should be carried out prior to the listing and reduce the delay between the passing of information between parties. It will also increase the early detection of ‘red flags’ for buyers when discussing the property with their conveyancer.

This groundwork is something I look to do for every client or potential client, to help correctly provide a scope and fee estimate.

I personally look forward to helping clients and agents with their listings to ensure the correct information is offered up front and presented in the correct way.