The CML has reaffirmed its support for government aims to speed up house-buying following the announcement of a draft Housing Bill in the Queen's Speech.
The CML says it is important not to overstate the potential impact of sellers' packs, and to recognise that they are not a panacea.
Other initiatives, such as the National Land Information Service and e-conveyancing, are likely to have a greater impact on speeding up house-buying. And these other measures, unlike sellers' packs, would not introduce extra costs to the market.
The CML supports the introduction of legislation to introduce sellers' packs that is enabling, not prescriptive. At the same time, it says the government should prioritise and speed up full implementation of NLIS and e-conveyancing, and set dates by which all market participants must use these systems.
After this, the industry will be in a better position to assess whether there is still a perceived benefit in implementing the legislation to introduce sellers' packs.
Peter Williams, CML deputy director general, says: “Sellers' packs may well have a part to play in providing more upfront information to buyers – albeit at a potential cost. However, they are far from the most important new initiative to speed up transactions.
“The government, and all those involved in conveyancing, must make sure that they do not get sidetracked by sellers' packs away from other important market developments. Setting targets and providing funding to get the National Land Information Service up to full effectiveness and implement e-conveyancing should be the most urgent priorities.”