Senior property industry figure Michael Stoop (pictured, above) has launched an online compliance service that enables estate agents to access up-to-date information on the UK’s 170-plus pieces of property legislation.
Called Complylex, the platform is available both online and via an optimised smartphone webpage.
It gives agents updates on changes to existing legislation and new laws and regulations as well as detailed and accurate guides to keep agents compliant.
The service has been developed by Stoop with one of the property industry’s leading legal experts Caroline Kenny, who worked with Stoop at TPFG but who also has strong links to many of the UK’s trade organisations including the NRLA, ARLA Propertymark and UKALA.
Complylex has been undergoing pilots at several corporate and agencies including CJ Hole, Martin & Co and Parkers, and Stoop says it’s been well received.
It costs £25 a month per branch for up to 15 users but across any number of devices per user.
“We felt there was no central resource that offered all the UK’s property legislation in one easy-to-navigate place, but that had been written and checked by a qualified legal team before being published,” says Stoop.
“It’s a bit like Spotify – you may only use it from time to time but you know it’s always there, and there’s no contract.”
Stoop says it’s largely aimed at independent agents who don’t have access to large teams of in-house compliance experts in the same way that corporates do.
Complylex is only available to estate agents at the moment, but may later be broadened to include landlord and tenants.