Breaking Property News – 29/05/24

Daily bite-sized proptech and property news in partnership with Proptech-X.

Made Snappy 360 says 61% of letting agents omit property measurements from their listings – which NTSELAT now requires 

Letting agents across the UK are proactively responding to an update from the National Trading Standards in Estate & Letting Agency (NTSELAT) regarding recommended “material information” in property listings. This update, covering 27 crucial pieces of information, including room measurements, diverges from current industry practices for many lettings operations.

NTSELAT’s Material Information Update:   The NTSELAT document, “Material Information in Property Listings (Lettings) v1.0,” emphasises the importance of including detailed room measurements in lettings listings. NTSELAT defines “material information” as data that significantly impacts a tenant’s enjoyment of the property.

Industry Response:   Kevin Hall, Director of Martin & Co in Ashford, has taken proactive steps by making measured floor plans standard in both new and re-let stock. He underscores the importance of staying ahead of regulatory changes, stating,

“I think it’s important to get ahead of the curve when it comes to regulation. It only takes me ten minutes to produce a measured floor plan through my provider Made Snappy 360 as I don’t need to measure or sketch anything, and I pass the cost onto my landlords.”

Angi Cooney, Director of C Residential in Rugeley, echoes this sentiment, leveraging innovative floor plan technology to provide accurate room dimensions quickly.

Insights from Made Snappy 360:   Data from Made Snappy 360 indicates that over half of letting agents currently omit property measurements from their listings. Their analysis highlights the disparity between lettings and sales listings, with only 38.2% of lettings properties featuring floor plans compared to 88.2% of sales listings.

Benefits of Including Floor Plans in Lettings:   Floor plans serve as a crucial risk management tool for both landlords and letting agents. By providing transparent and comprehensive information about the properties layout, dimensions, and features, floor plans help mitigate the risk of misrepresentation claims and disputes between landlords and tenants.

NTSELAT’s Broader Impact:   NTSELAT’s guidance extends beyond lettings to sales listings, prompting discussions within the industry. While some criticise the definition of “material information” for sales listings, others see it as a step towards transparency, albeit with potential upfront costs for agents and vendors.

Made Snappy 360:   Was established in 2018 by Mark McCorrie, a former mathematics genius turned letting agent, Made Snappy 360 has transformed the process for estate and letting agents in creating precise floor plans. With a simple method, agents capture one image per room using a 360 camera and Made Snappy 360 handles the rest – from measurements to floor plan creation.

The entire process takes less than 10 minutes for a 3-bedroom house. Moreover, clients benefit from receiving a 360 tour and enhanced photographs as part of each listing.

Among the satisfied clientele of Made Snappy 360 are renowned names such as Pattinson, Rook Mathew Sayers (a division of Connells), Goadsby, and various prominent franchises like Your Move, Hunters, Martin & Co, and many others. Made Snappy 360’s exceptional customer service has earned them recognition, including two prestigious ESTAS awards.

 

If you have a view – please let us all know by emailing me at editor@estateagentnetworking.co.uk – Andrew Stanton Executive Editor – moving property and proptech forward. PropTech-X

Andrew Stanton

CEO & Founder Proptech-PR. Proptech Real Estate Influencer, Executive Editor of Estate Agent Networking. Leading PR consultancy in Proptech & Real Estate. Want to contact me directly regarding one of my articles or maybe you'd like a chat about future articles? Email me via editor@stagingsite.estateagentnetworking.co.uk

You May Also Enjoy

National Federation of Builders
Breaking News

GDP figures shows the need for planning reform

Following GDP growth of 0.4% in March 2024, April has seen no growth and in key sectors, such as construction, output has again dropped. Richard Beresford, Chief Executive of the National Federation of Builders (NFB), said: “The NFB Manifesto, ‘Supporting Construction to Power Growth’, was written with the UK’s GDP struggles in mind. While growth…
Read More
Breaking News

Breaking Property News – 12/06/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   Leadpro integrates with Alto Leadpro, a lead generation and management tool, is excited to announce its integration with Alto, the market-leading software for estate agents This integration aims to drive efficiencies for agents by enabling the seamless transfer of leads from Leadpro directly into…
Read More
Estate Agent Talk

Avoiding First-Time Homebuyer Blunders: Your Roadmap to Success

Owning your first home is a monumental milestone, brimming with excitement and anticipation. It’s the start of a new chapter where dreams of having your own house become reality. Yet, amidst this exhilarating journey lies a maze of complex decisions and potential pitfalls, especially for first-time buyers. Successfully navigating the financial and emotional commitments necessitates…
Read More
National Federation of Builders 2021
Estate Agent Talk

NFB reaction and market insights to Conservative Manifesto

The Conservative party launched ‘Clear Action, Bold Action, Secure Future’, their manifesto for the 2024 general election. Richard Beresford, Chief Executive of the National Federation of Builders (NFB), said: “A healthy construction industry is the only way a nation can grow and unfortunately, construction has taken some great hits in these last five years. The…
Read More
Estate Agent Talk

Response to the Conservatives’ 2024 manifesto – Thoughts from the Industry

In its manifesto launched today, the Conservative Party promises to deliver a record number of homes each year on brownfield land in urban areas by providing a fasttrack route through the planning system for new homes on previously developed land in the 20 largest cities, cutting Stamp Duty and commitments to improving the energy efficiency…
Read More
Breaking News

Conservative Plans do Nothing to Address Shortage of Homes to Rent

Responding to proposals in the Conservative Party’s 2024 general election manifesto to scrap Capital Gains Tax for two years where landlords sell properties to sitting tenants, Ben Beadle, Chief Executive of the National Residential Landlords Association, said: “Tenants who want to become homeowners should be supported to do so. Whilst incentivising landlords to sell to…
Read More