More Upfront Material Information could cut viewings,...

A survey of over 11,000 buyers suggests overwhelming support for more upfront information to be supplied by agents to buyers.

Disclosing upfront material information on a property when selling it across England and Wales has been a requirement for some years. However, with the National Trading Standards Estate and Lettings Agency (NTSELAT) updated guidance in November last year, there is now a clearer set of guidelines to work towards, detailing precisely what should be included.

The survey - for a firm called Moverly - suggests that 31% of those questioned had to disregard a property whilst viewing due to the discovery of an issue that could have been included upfront material information. A further 15% had to do the same after having already submitted an offer.

Some 93% of respondents are in favour of upfront material information to ensure they are fully informed of issues before viewing.

In addition, 55% of those participating in the survey noted that all properties they viewed provided both Part A and B upfront information, however, this leaves a significant portion of properties lacking the required information. When it comes to Part C information, relevant to all properties, only 22% of buyers stated that all of the homes they viewed either all or mostly provided this upfront.

A Moverly spokesperson says: "The updated NTSELAT guidelines have given estate agents a definitive guide on precisely what should be included when marketing a property for sale. While many are making good progress in providing the required information to homebuyers, it's clear that there is still some way to go to ensure full compliance across the board.

“The fact that a significant number of buyers still encountered a lack of upfront material information, both during viewings and after submitting offers, highlights the need for continued focus on this area.”