Last year saw a housing market boom. Experts predict that 2022 is heading for a changed landscape altogether. The highest rate of inflation in nearly 30 years, an end to ultra-low interest rates and more properties coming onto the market means the supply and demand-driven sector will continue to be competitive for very different reasons, putting pressure on agents to evolve like never before.

Agents, in particular listers, will already know that The Consumer Protection from Unfair Trading Regulations 2008 (CPRs) are the regulations that control descriptions used by estate and letting agents in property details and when selling services.

To recap, the regulations prohibit ‘misleading omissions’ that cause or are likely to cause the average consumer to take a transactional decision they would not have taken otherwise. Breach of these rules is a criminal offence. The CPRs ask that we give enough information to our customer “to make an informed choice”.

Adding to the pressure of the changing economic landscape is the recent guidance issued by The National Trading Standards Estate Agency and Lettings Team (NTSELAT) on what information is considered to be ‘material’ and the data fields that will be added to the UK’s major property listing portals from May 2022. Where a data field for a property’s council tax band or rate, the property price and tenure information (for sales), is left empty it will be highlighted on the listing so that consumers can see what information is missing. This will link to advice for consumers on why that information is important and how they can access it. In short, if the property details agents prepare are ‘thin on the ground’, trust in their brand will inevitably diminish.

‘Material information’ is defined as “information which the average consumer needs, according to the context, to take an informed transactional decision”. A ‘transactional decision’ is not limited to the consumer’s decision to purchase a property but includes their decision to even view a property.

This is the first part of a three-phase project, so now is a good time to get ahead of what is coming.

As the content of verbal descriptions are covered, in addition to what is in print, photos, plans, models, websites and other marketing materials, if they haven’t already, listers and agents need to hugely embrace professional marketing and selling skills.

That’s not to say that agents are unable to act in the sellers’ interests by presenting a property in its best light – but care must be taken not to mislead the seller or the buyer – at any point.

The art of professional selling lies in an agent really getting to know their client, the law and having a true interest in the property they are listing. Developing a deep understanding of their sellers and buyers helps agents make the shift from focusing on themselves (targets) or their agency to putting their clients first and fulfilling their needs. By truly understanding these needs, a successful agent can talk in an advisory capacity and become a trusted partner in the transaction.

If that sounds easier said than done here are some good practices from The Able Agent team to help agents check if they are on track:

1/ Check, check and check

Check all the information a vendor gives you, council tax bands, guarantees for work, planning permission documents, lease length, warranties, the more you can evidence the better. Ask the vendor to check the particulars to give them a chance to change anything that is wrong. Remember that you cannot rely on the vendor’s information. If something doesn’t “feel” right then the agent has an obligation as the “expert” to research further.

2/ Take care

When using general descriptions – we know that your client will want you to focus on particularly attractive features, just ensure that they are not emphasised to the exclusion of other, not so attractive, features that should also be included. It is important to highlight any negatives effectively. For example, you cannot remove the pylon from any photos and should highlight any items in photos that a buyer might assume are being included in the sale, if they are not.

3/ Use accurate descriptions

When it comes to the proximity to amenities such as a school, it is vital to ensure this is accurate. Rather than using words such as “close to” or “within walking distance” state the exact distance, e.g. one mile from the local primary school. Are fireplaces marble or marble “effect”, are the sash windows actually “original?”

4/ Omissions

If leaving out information to favour an aspect could affect a buyer’s decision to buy it’s safest not to mention it all. For example, if a property has a large garden to the front and no garden at the back and the listing states “beautiful gardens” it would be misleading, unless the description also equally stated about the property not having any garden to the rear.

When all said and done, the industry and consumers will all benefit from being better informed. Professionally trained agents feedback that sales are smoother and time-wasting viewings and broken chains are reduced. Learning what to prioritise helps agents to be more confident, effective and happy.

The industry needs good communication and excellent communicators who listen first, are client motivated and manage expectations.

It’s very rewarding for us to see the results when agents put themselves in the shoes of their clients, are confident and honest about the facts, understand all of the legal requirements and focus on fulfilling their clients’ needs, resulting in happy customers, more referrals and thriving businesses.

Charlotte Jeffrey-Campbell is an industry trainer and director of The Able Agent.