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New industry body aims to simplify and modernise buying and selling

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Mon 26 Feb 2018

New industry body aims to simplify and modernise buying and selling

Representatives from estate and lettings agencies as well as professional organisations have formed The Home Buying And Selling Group with a common theme of being “motivated by a genuine desire to effect change.”

The group includes agents, property lawyers, mortgage lenders and representatives of organisations such as Land Registry, the Law Society, the Society of Licensed Conveyancers, Conveyancing Association, Bold Legal Group, the Residential Property Surveyors Association, Northwoods, The Property Ombudsman, Rightmove, and the Building Societies Association.

Its first meeting has been held, hosted by property marketing firm TwentyCi and chaired by industry expert Kate Faulkner who runs Propertychecklists. 

Matt Prior, an official from the Ministry of Housing Communities & Local Government, also attended. 

A statement afterwards from online agency Emoov, which was also present, said the meeting’s attendees were confident that if “solutions are developed involving all of the industry from the start, huge differences could be made to consumers’ buying and selling experience.”

Emoov says research is now being conducted by the group into how to create more certainty in the buying process through binding offers or reservations, as well as ways to provide consumers with better data to help their decision making process.  

Smaller expert teams have been set up to investigate providing more information before sale, creating more certainty at offer stage, improving education, both of consumers and people within the property industry and ways to solve leasehold issues.   

Emoov founder Russell Quirk says the group’s members are “poised to use their various industry and regulatory expertise to at last improve the archaic and problematic house buying and selling process.”

                           

 

The group appears to be the latest working to the government’s high-profile aim of improving, simplifying and modernising the house sale and purchase business.

Conveyancing bodies have for some months been issuing statements and proposals aimed at avoiding high rates of fall-throughs during transactions, while the Ombudsman Services redress scheme has withdrawn from day-to-day complaint handling to consider longer-term single-scheme redress options for housing.