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OPDA provides clarity on withdrawal of MI guidance

13 May 2025

Maria Harris, Chair of the Open Property Data Association (OPDA), says:

“The recent withdrawal of the National Trading Standards Estate and Letting Agency Team (NTSELAT) Material Information guidance has sparked concern within the property industry. However, this change signifies a transition towards a more robust legal framework under the Digital Markets, Competition and Consumers Act 2024 (DMCC Act), which aims to strengthen consumer protection and standardise practices across the sector.

“Previously, the NTSELAT guidance served as a tool to help agents comply with the Consumer Protection from Unfair Trading Regulations 2008. With the introduction of the DMCC Act, these regulations have been superseded, and the guidance has been withdrawn accordingly. This shift moves the industry from relying on advisory documents to adhering to statutory obligations, providing clearer legal expectations for all parties involved.

“The DMCC Act mandates the disclosure of material information in property transactions, ensuring that consumers receive all necessary details to make informed decisions. This includes transparent pricing, clear terms of sale, and any other pertinent information that could influence a buyer’s choice. By embedding these requirements into law, the Act enhances consumer trust and promotes fairness in the market.

“Under the DMCC Act, the Competition and Markets Authority (CMA) is granted direct enforcement powers, including the ability to impose fines for non-compliance. This centralised enforcement mechanism ensures consistent application of the law and holds all market participants to the same standards, thereby levelling the playing field.

“While the transition may present initial challenges, it also offers an opportunity for industry stakeholders to collaborate in developing comprehensive guidance that aligns with the new legal framework.

“In conclusion, the withdrawal of the NTSELAT guidance should not be viewed as a setback but rather as a step forward in formalising and strengthening the provision of material information in property transactions. By embracing the DMCC Act, the property industry can enhance transparency, foster consumer confidence, and ensure a fairer marketplace for all.”