Advertising Guidance

For England & Wales

National Trading Standards Estates and Letting Agency Team (NTSELAT) have produced guidance that will help agents and their clients when describing and advertising a property for sale or for let. This is so any purchaser or renter has a clearer understanding as to what is being offered, which is material information. Material information is a legal requirement, all relevant information must be declared so the purchaser or renter can make an informed decision if they want to proceed with the purchase or rental. All information must be clear, accurate and up to date at all times.

General terms for sales and lettings

New on the Market – This is for a property that has not been advertised since the last sale or let. The description should only be used for a short period of time. Cannot be used if the property has previously been advertised with another agent.

New instruction – This is where an agent has recently been instructed to market the property. The description should only be used for a short period of time.

New and exclusive – This would be if either the property was a new instruction or new on the market which is exclusive to the agent or portal.

New method of sale/ let – This would be when a property is being advertised for sale or let using an alternative mechanism to the original advert (e.g., changing to an auction or sealed bid for a property sale).

Reduced – This is where the price of a property has recently been reduced. Any reduction should be a genuine reduction against the previous price, in accordance with the Chartered Trading Standards Institute’s ‘Guidance for Traders on Pricing Practices’.

Terms for Lettings

Under offer – This is where an offer has been received for a property which the landlord is considering and the property is still advertised on the market where further offers can be made depending on the landlord’s instruction. The description should only be used until an offer has been accepted or declined.

Let agreed – This is where a landlord has in principle agreed to enter into an agreement with a prospective renter, subject to further checks and referencing. The use of this term is not subject to a relevant person having received a holding deposit.

• Rental agreement  includes, but is not limited to: tenancy agreements, a licence to occupy, excluded licences, and occupation contracts (in Wales)
• The processes relating to holding deposits and other permitted fees that can be charged to prospective renters is set out in the Tenant Fees Act 2019.

Let – This is where a landlord and renter have entered into a binding agreement.

• Checks on the prospective tenant(s) have been completed and a binding rental agreement has been entered into. Adverts should be removed in line with property portal requirements, relevant codes of practice, and local planning laws.

Please see the link below for the full NTSELAT guidance.

Terms used in property advertising (nationaltradingstandards.uk)