Click a link
to find out why we are the complete solution for property professionals
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
The client and experts view...
Latest news
System Maintenance
Please be aware that we are performing some system maintenance this weekend. We don’t anticipate that this will result in any downtime of our services, but we apologise if it does cause any inconvenience
Government Confirms New Regulations and Qualifications for Estate Agents Will Happen
The government has accepted the proposals of the Regulation of Property Agents (RoPA) with wide-spread consequences for estate and letting agents.
The proposals reach right into the heart of the industry to affect regulation, training and licensing.
(more…)
Fears of Tougher Regulations and Unjust Costs Mount Ahead of Government Announcement
Estate Agents are waiting for the big reveal on Monday after Lord Best has admitted some firms could close when the regulation of property agents (ROPA) makes its recommendations to the Government early next week.
Lord Best, the chair of ROPA, has already outlined the working group’s desire for more regulation.
[NEWSFLASH] Agent Charged DOUBLE Over AML Registration Mistake
Property Industry Eye (PIE) has highlighted the case of an estate agent who has fallen foul of HMRC and been charged double.
On 4th April, with plenty of time to spare, Hayman-Joyce renewed their annual HMRC registration. They paid the fee and thought they’d ticked all the boxes.
Compliance in a Box: The Natural Remedy for Your AML Headache
Estate agents around the country are realising that the new 5th AML Directive goes deep. There’s a lot of work involved in becoming compliant. And the penalties for non-compliance, either deliberately or through confusion, are severe. (more…)
Click the Apply button opposite to use our software on a trial basis...
- What now for the agency industry as Boris Johnson takes over? https://t.co/KUJc0V2EEn
- Fears of Tougher Regulations and Unjust Costs Mount Ahead of Government Announcement https://t.co/N8VDGWNuC2 https://t.co/giZNcR88pH
- We're always talking to agents about reducing RISK with KYC (Know Your Customer) Due Diligence...but what about con… https://t.co/ePdHELsgKp
- Want to make sure you're ticking all the right boxes for your AML compliance? Click the link below and for our *FRE… https://t.co/3bjcIPFf2y
- Estate Agents, Compliance and the Beautiful Game https://t.co/1QwL5YQMit https://t.co/xawZnlv38L
- What now for the agency industry as Boris Johnson takes over? https://t.co/OUBAikhCTw
- More change on the horizon for agents! Seems to be a real split of opinions on this one. #estateagents… https://t.co/RhWLtkEbJQ
- We're always talking to agents about reducing RISK with KYC (Know Your Customer) Due Diligence...but what about con… https://t.co/CdzfWVEpXy
- Want to make sure you're ticking all the right boxes for your AML compliance? Click the link below for our *FREE* 1… https://t.co/j5SnrJMFcS
- MI5 spies 'at breaking point' as they face threats https://t.co/SBGS2Wsi2k via @MailOnline. Security Minister Ben W… https://t.co/WwEKnKIpN5
