“Off market” is about to get bigger.
1st March 2022
Trading Standards are adding to the hassle for estate agents selling properties on the open market.
From the end of May 2022, all listings in estate agent branches or online will have to include council tax, tenure and property price. This will lead to delays when managing agents don’t reply to requests for the extra information. There will also be extra costs if the asking price changes and expensive brochures have to be ditched for new brochures showing a lower price. This is why many estate agents produce literature saying “Price on Application”, leaving them with the flexibility of using the same brochure if the asking price changes. Not any more.
The cost of listing is already a disincentive to open market sales. With the new rules, estate agents will be inclined to offer more properties without advertising. Buying agents are likely to get that first call. By choosing Hanslips, buyers are able to access more of those off market properties. That way they can stay ahead of competitor buyers who are relying on the online portals to keep up to date.
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