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ETSOS launches ‘Compliance in a Box’

4th March 2014

ETSOS, the one stop shop for property professionals, has announced the launch of a major new initiative. Developed in conjunction with key industry stakeholders such as the National Association of Estate Agents (NAEA) the ‘Compliance Pack’ has been designed to help estate agents comply with the demands of the Consumer Protection Regulations (CPRs)

The onus is now on agents to provide full and accurate information, and demonstrate their own ‘due diligence’ in revealing material facts that might affect the average purchaser’s decision making. The ETSOS ‘Compliance Pack’ can be used as a formal ‘pre sale information pack’ that helps agents with their new statutory duties.

The pack is seen as a simple but effective way of demonstrating best practice, accountability and disclosure. It should also ensure a fair balance between representing a vendor’s interests while ensuring potential purchasers have all the relevant facts to hand at the earliest opportunity.

Core components include a property questionnaire to be completed by the vendor, a Hazard Checker report, and a copy of title. Bespoke additions can also be made to the basic pack, such as proof of tenure or survey reports; any new information that comes to light can be added and the pack reissued to give a complete audit trail. Packs are delivered fully bundled and branded to that agent, and can be turned round in as little as one hour, depending on the availability of the questionnaire.

ETSOS’s Ben Robinson says it’s too early to know the full impact of the CPRs but agents must accept the days of ‘buyer beware’ are over:

‘There’s a very clear requirement for agents and the vendors they are representing to be more transparent and truthful than ever before, and this pack lets them tick the compliance box and to do it quickly and very cost-effectively. This is a low cost disbursement that could save you from some very high penalties, and is another example of ETSOS’s continued commitment to make the lives of industry professionals easier.”

For more information please click here or contact us on 01524 220013

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