Material Information: Compliance Success Lies in the Details

There’s been a lot of talk in the industry recently regarding the topic of obtaining material information as an agent and being able to surface it effectively to prospective buyers. This has all come about because of recent regulations imposed since 2022.

In May 2024 Rightmove issued a warning regarding the importance of filling out fields on material information and the failure to comply with these requirements could result in hefty fines or in some cases, prison sentences.

MRI Software have been ahead of the game when it comes to trading standards with their flagship solution MRI Sales & Lettings, which is updated four times a year to ensure that clients are always remaining compliant with their solutions.

As recently as last month, MRI Software has incorporated the options that sit inside the Rightmove tool to ensure compliance and make sure that agents can be confident in the information they’re pushing to their adverts and portals.

More specifically, MRI Software has made their clients’ lives easier by adding new tabs to every property record in their system, allowing users to easily add information satisfying the requirements of Part A, B and C materials laid out in the registration such as:

• Primary source of heating
• Primary arrangements for sewerage
• Are there any restrictions associated with the property?
• Primary Source of water
• Are there any accessibility features or adaptations?
• And other key considerations

MRI Software have also made sure that all APIs to portals (including Rightmove) that require this information are working operationally so that agents can trust that they’re staying compliant more easily. All this work has been carried out following consultation with clients, regulators and industry professionals such as Guy Harris from AccessiblePRS, who is helping MRI Software to ensure that all Agency solutions go above and beyond when it comes to the ability to make material information available.

For more information or a more detailed overview of the changes made to MRI Sales & Lettings please watch the video below.

Ready to explore the MRI Sales & Lettings solution and ensure compliance for your organisation? Click below to reach out to one of MRI’s product experts.