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774569
CPR/BPR
Description
Mind Map on CPR/BPR, created by lpwhitaker88 on 21/04/2014.
Mind Map by
lpwhitaker88
, updated more than 1 year ago
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Created by
lpwhitaker88
about 10 years ago
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Resource summary
CPR/BPR
Consumer Protection from Unfair Trading Regs 08
5 Main Categories
Misleading Actions (material info)
Miseleading Omissions (material info)
Exerting undue pressure on consumers (aggressive practices)
Failing to show professional diligence (honest marketing practice and in good faith)
Engaging in any of the 31 specific practices that are banned outright
e.g. saying property reduced for a limited time only when it isn't to elicit an immediate decision
Situation where the client instructed us to gazump, showed consumer that we had advised this isn't our recommended course of action
This is where the major review is
e.g. informing the client if there has been an unfacourable survey, which wasn't required before unless asked
e.g. derelict proeprty we were selling, made clear in the description that the property suffers from dry rot in places
Like in PMA 91
false/misleading statements
33 specific matters
e.g. location, photos of outlook, proximity to services
Victorian, 1837-1901, Edwardian 1901-1910
Residential Agency Guidelines set by RICS Code of measuring practice
measurements to be taken above skirting board, no higher than 1.5m
rooms described by linear measurement, not area
Where floor area's adopted, use GIA
Where rooms include bays, alcoves, recesses etc, stated to be included or excluded
L-shaped rooms measured and expressed in 2 parts
where there is a stepped changed in floor level each section should be expressed and measure seperately
For irregular shaped rooms, either no measurements given, or average measurement where line of measurement is detailed on floorplan
Annexes, e.g. for room extensions, that aren't part of original building should be measured and described seperately
Garage measurements need to be taken internally
Material info
The info that the average consumer needs, to take an informed transaction decision
What if you did not know the info
Could still be misleading omission if you have not taken reasonable steps to find out the info
Could devise a questionnaire as solicitors do
Could signpost to info
e.g. environmental agency website, links to local authority
Business Protection from Misleading Marketing Regs 08
Duty of care to consumers, with civil/criminal consequences if don't comply. By OFT / trading standards
2 year imprisonment, ultd fine, ban from estate agency work, loss of business, harm to reputation
PMA 91, superseded, but the general requirements cover many of the same area
Average consumer
someone who is reasonably well informed and observant, taking into account social, cultural and linguistic factors
may be a different average consumer for each property
Vulnerable Consumer
e.g. elderly or first time buyers who can be too trusting
What extra steps do you need to take to ensure they are level pegging with an average consumer
Misrepresentations act 67
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