Is Ignorance of the Trading Standards a Defence?

The End of “I Didn’t Know”

The transition from the Misdescription Act to the CPRs has eliminated the gap in understanding what “material information” entails. The National Trading Standards Estate and Letting Agency Team (NTSELAT) provides comprehensive guidance, specifying the types of information that must be disclosed before listing a property. This clarity leaves no room for ignorance as an excuse.

Proactive Learning and Compliance

Estate agents are encouraged to proactively educate themselves on the 210 specific bits of ‘material information’ identified by NTSELAT. This knowledge is not just for compliance but also for elevating the standard of service provided to buyers and sellers. Understanding and implementing these guidelines is essential for avoiding legal pitfalls and fostering trust in the property transaction process.

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The Imperative of Full Disclosure

Full disclosure is now an imperative part of the estate agent’s role. By embracing this responsibility, agents can ensure their practices align with legal requirements, thus avoiding potential penalties. The guidance provided by NTSELAT serves as a critical resource for estate agents aiming to maintain compliance and uphold the integrity of their profession.

A New Standard for Estate Agency

The shift towards full accountability and transparency represents a significant change in the estate agency profession. Agents must fully understand what constitutes material information and how to disclose it effectively. Ignorance of the law does not excuse them; every estate agent has the duty to be informed and comply.

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