Compliance no longer a burden for Estate Agents

With the removal of the Property Misdescriptions Act in October 2014 and the huge fines handed out under The Anti Money Laundering Regulations earlier this year it can be hard to know where to start with AML regulation in Estate Agency. The seemingly endless red tape is a financial drain on Estate Agents and represents an ever increasing risk from fines and even prosecution. However for many agents compliance is no longer a burden, consistency no longer unachievable and risk easily minimised through ‘Compliance in a Box’ by ETSOS.

‘Compliance in a Box’ was launched by award winning ETSOS in February 2014 to help Estate Agents comply with the increasing burden of regulation. Designed to take away the hassle and risk faced by Agents under the Consumer protection and Anti-Money laundering Regulations, ‘Compliance in a box’  is a quick and easy process that enables Agents to collect, collate and distribute the information they are now required to gather and provide about vendors and their property, easily and cost effectively.

The service can be accessed from a free to use on-line platform where services can be ordered within a matter of seconds. There are no set up costs with full training also provided. The system provides a full electronic audit trail of the process and products ordered thus demonstrating an Agents due diligence with the regulations

Included as standard in the Compliance Pack are the following:

•    Property Information Questionnaire
•    Register of Title
•    Title Plan
•    Anti-Money Laundering Checks on vendors
•    The ETSOS system automatically will notify an Agent of any potential environmental risks.

Since the launch of this this unique service both take up and feedback has been extremely positive.

Further information about ‘Compliance in a box’ can be found at www.etsos.co.uk