RICS is calling on the Government to introduce fundamental changes to Home Information Packs to ensure that they are fit for purpose for all properties and in all market conditions.

"Right information to the right person at the right time"
Working with the National Association of Estate Agents and the Law Society, RICS has formulated a new HIP model which is based on the central theme of giving the right information to the right person at the right time.

The HIP itself would concentrate on consumer information with legal information being taken out and obtained by legal advisers at the appropriate time.

RICS has welcomed the Government’s recent proposals to add a consumer information form to the Pack but only on the basis that searches are taken out of Packs and left to buyers to obtain at the appropriate time in a transaction.

At the moment, all parties - sellers, buyers and agents - are complaining that the searches have to be paid for twice because in the current slow market they are often out of date by the time a sale is agreed.

First day marketing rules should be dropped
As part of our proposition for a new look, more flexible HIP, we are calling on the Government to drop the tight control enshrined in current legislation on what must be done before marketing a property.

The rules on first day marketing are unnecessary and inflexible, and, if fully implemented will only serve to annoy sellers who want to get their properties on the market as quickly as possible.

All of the changes RICS is proposing are designed to cut unnecessary cost and ensure that sellers and buyers receive the service they want from their professional advisers.

Voluntary Property Report
RICS has coupled its call for reform of the HIP with proposals for a new voluntary Property Report which buyers or sellers could commission.

The report, which is based on a modular approach, enables buyers to add further modules, such as repair solutions or valuation, to the basic condition report.

Regulation of property professionals
Following the publication of Sir Bryan Carsberg’s report on residential property earlier this year, RICS has coupled its proposals for a better HIP with a renewed call for regulation of the agency sector.

This has been a long-time wish amongst responsible agents having to compete on an uneven field with unregulated agents.

Our proposition to Government seeks:

• reduced Government intervention in the buying and selling process – a more flexible HIP
• more Government intervention in the control of who can be in the market – entry requirements and an effective regulatory regime for all agents.

Next steps
The current HIP regulations will expire at the end of the year and we are pressing Government to introduce major reform of the HIP from 1 January 2009. 

This will mean consultation in the early Autumn.

We will continue to discuss our concerns on the current HIP with Housing Minister and her officials and keep members informed on developments.