A valuable new tool is now available for estate agents to help improve business and assist clients with the biggest purchasing decision of their life. The British Standards Institution has published a new Draft for Development (DD) for estate agency services to help clarify the process of buying a home.
The aim of DD 8464 Estate agency services. Residential property sales. Specification for the provision of the service is to increase the transparency of the residential property sale process and outline the requirements for essential information and advice, contractual details and sales services to the client.
The document has been published as a DD so that its development as a British Standard can benefit from a period of trial and consultation. Users are being invited to comment on the document in light of their experience in implementing it and to participate in its development as a full formal British Standard over the next 2-3 years. BSI is urging industry to get involved so that it can meet both their needs and those of consumers.
A survey commissioned by BSI prior to the development of the draft found that 44 per cent of consumers viewed estate agents as having low standards, and were dissatisfied with their experience.
The DD is applicable to residential property sales and specifies the benchmark for its principal features including the provision of:
- pre-instruction or pre-contract information
- contractual documentation
- service delivery
- post-contract activities.
To support industry in achieving this benchmark, DD 8464 also makes provision for the overall management of the business, with specific reference to:
- funds management
- advertising and promotions
- liability insurance
- staffing
- client relationship management
- ethical business
- quality policy and service improvement
- conformity declaration.
NB:This publication is not to be regarded as a British Standard. It is being issued in the Draft for Development series of publications and is of a provisional nature so that information and experience of its practical application can be obtained. A review of this Draft for Development will be carried out not later than 2 years after its publication. According to the replies received, the responsible BSI Committee will judge whether the Draft for Development can be converted into a British Standard or what other action should be taken. Observations which it is felt should receive attention before the official call for comments will be welcomed. These should be sent to the Secretary of BSI Technical Committee SVS/0 at British Standards House, 389 Chiswick High Road, London W4 4AL, UK.
