Material Information - PropTech tool launched to help agents

Reapit has launched a new feature to help agents comply with material information guidelines from the National Trading Standards Estate and Lettings Team.

The new fields on the platform’s property marketing screens enable agents to enter essential details which will also be added automatically to the relevant property portals as each portal adapts to support material information.

Based on NTSELAT guidance, users the latest version of Reapit’s platform can now add material information from parts A, B and C to properties for sale or to let, including:

- Council tax band;

- Tenure;

- Leasehold expiry date;

- Charges (including service charges and ground rent);

- Shared ownership details (including rent payable and percentage owned);

- Rental deposit requirements;

- Property type;

- Room count and type;

- Construction type;

- Parking;

- Utilities; and

- Additional information covering broadband and mobile signal information, accessibility, rights and restrictions, flood and erosion risk

First introduced in May 2022 and expanded at the end of 2023, the guidance from NTSELAT is designed to ensure UK agencies’ property adverts are consistently declaring all the information the average consumer needs to decide whether to enquire about and ultimately purchase or rent a property.

Upfront disclosure of material information is a legal obligation under the Consumer Protection from Unfair Trading Regulations 2008. 

Steve Richmond, general manager at Reapit UK&I says: “We placed a high priority on delivering this essential compliance feature. Collaborating closely with leading property portals, we aim to seamlessly integrate the valuable information provided on Reapit into property listings automatically.”