A new trade body for the property search industry is set to launch.
The Conveyancing Information Executive (CIE) has been recently established after Groundsure, Landmark, Tide and Searchflow decided to leave the industry’s current organisations – the Council of Property Search Organisations and The Property Codes Compliance Board – to start the new body.
According to the CIE’s website it believes a new “governance approach is needed” – and as such is establishing a new set of standards.
Its website states: “The UK search industry has evolved and proliferated its services extensively over the last few years. It’s an equally exciting and volatile time for the industry.
“The potential for improvement is the underlying driver for so much business interest in modernising the real estate transaction process. In this new business landscape, we believe we need a new governance approach to help wider market stakeholders understand what they should expect from a credible and robust search report.”
It adds: “Our principles are based on empowering customers. We believe in transparent decision making and will use this to lead our governance and standard-setting decisions, which will be open for all to see, review and provide comment.
“Everything in our approach towards search report requirements has the customer at the heart. Our eventual aim is a self-governed industry — led by customers and their expectations.”