Estate agents and vendors need to work together to get all the relevant documentation, photographs and sales particulars ready. They also need to consider any other remedial action to get the property both market ready and sale ready.

Vendors who may not have sold a house for a long time can often be confused by the questions in the Property Information Questionnaire (PIQ). Work with them to complete the PIQ as omissions and inaccuracies often lead to conveyancers raising queries which result in delays to the transaction. This in turn creates frustration for your vendors, delays payments and increases the likelihood of a transaction falling through.

Download the toolkit

Estate agents who are using the toolkit have reported a reduction in transaction times, down to seven weeks in some cases. 

Use these three toolkit documents alongside Land Registry title documents and plans, details of chain progression, sales particulars and proof of funds and/or a mortgage agreement in principle.

Propertymark Professional Information Questionnaire for sales
28 Jan 2020
Property Information Questionnaire (PIQ) for sales

Having contributed members views to the NTSELAT working group developing guidance on Material Information, Propertymark’s Property Information Questionnaire (PIQ) is a credible structure to underpin the work property agents do with their clients to gather information.

Propertymark's Memorandum of Sale Checklist
19 Nov 2019
Memorandum of Sale Checklist

Stakeholders from across the sector formed the Transaction Reform Group to find ways of speeding up the buying and selling process. A Memorandum of Sale is sent to all parties as soon as a sale is agreed in principle.

Propertymark Declaration of Offer form
03 Apr 2020
Declaration of offer form

Have the buyer complete a written declaration of offer rather than accepting it verbally so that you have clarification of their financial position and circumstances of selling so that this can then be shared with all parties, excluding confidential information, making everything transparent.

Free Webinar | 18 Jan 2024
Understanding Material Information for Sales and Letting Agents

Emma Cooke, NTSELAT & Timothy Douglas, Propertymark
NTSELATs Policy and Information Manager Emma Cooke explains the new requirements on sales and letting agents on the process to improve material information disclosure in property listings. 

Watch now

Free Webinar | 8 Feb 2022
Benefits of using the Sales Protocol Toolkit

Simon Wilkinson, The Wilkinson Partnership
The Sales Protocol Toolkit which takes a fresh look at transactions, encouraging agents and vendors to work together from the get-go to get the property both market ready and sale ready.

Watch now

 

Donut chart representing 73%

73% say providing information up front results in a slight or significant increase in speed

Donut chart representing 64%

64% say producing information up front results in a slight or significant reduction in the number of failed sales

News articles
Material Information NTSLEAT.jpg
30 Nov 2023
Full NTSELAT Material Information guidance

The National Trading Standards Estate and Letting Agency Team (NTSELAT) has released comprehensive new guidelines covering all three phases of the programme, which aims to improve and standardise disclosures in property listings, helping agents to meet their legal obligations.

Estate agent's window
03 Dec 2019
Dispute on material information accuracy leads to court case

Agents must be aware of the need to conduct due diligence checks on material information, as vendors from Oxfordshire are being sued for damages after claims they failed to disclose accurate information to their buyers. The buyers withdrew from the sale after the exchange of contracts when information of a planned nearby hotel development came to light.

Lit up sales sign.
08 Nov 2024
What estate agents need to know about the Renters Rights' Bill

Agents working with landlords who want to sell a property with sitting tenants must be well-versed advising clients effectively on realistic pricing and the potential impact on the buyer pool, and with tenancy reform at the heart of the Renters’ Rights Bill, watertight paperwork and record-keeping will be more important than ever, for buyers, sellers and agents.

Marketing lettering cut out from brightly coloured paper
30 Jan 2024
Communicating correctly about leasehold properties

If the Leasehold and Freehold Reform Bill becomes law, it’s expected that the sales market for leasehold properties will be reinvigorated. Leasehold is a complex area and can be intimidating for agents and consumers, so what are the fundamentals of the current situation, and how will this change if the Bill is introduced?


Introducing HIPLA for quicker transactions

Lack of speed in transactions is an ever increasing problem for members so we are pleased to offer HIPLA's support to help speed up property sales.

HIPLA's distinctive platform combines our Property Information Questionnaire (PIQ) with the Law Society’s transaction protocol forms: TA6, TA7 and TA10. They have removed the duplication between these forms by pre-populating data where possible and have transformed the process into an extremely easy to use, consumer friendly mobile platform.

It uniquely satisfies an agent’s CPR obligations whilst also fully completing (and signing) the necessary transaction protocol forms required by conveyancers.

Visit the Hipla website to find out more: hipla.co.uk
or email: [email protected]