What is the job of a real estate agent?
The essential mission of the real estate agent is to find a buyer or a tenant for the real estate which is entrusted to him by his means of publicity, his relations, his experience in the life of the businesses.
It is a profession where one sells a real estate marketing service.
Obligation of the real estate agent
Article 19 of the code of ethics specifies that “when he provides information on his quality, his professional activities, his qualifications and his services, the real estate agent delivers them honestly and refrains from improperly appropriating titles or skills, whether in general or in relation to a specific good.
In the documents used by the real estate agent, it must be indicated:
- Its IPI registration ;
- the corporate name of its establishment or that, accompanied by the legal form, of the legal person within the framework of which it acts;
- statements of financial guarantee;
- the information required by law.
The real estate agent must also provide his client with all the correct information relating to the characteristics of the service of the service and at the latest at the conclusion of the contract. He will have to act according to the consumer’s need.
Advice and information obligation
Article 1 of the code of ethics enshrines the duty of loyalty which is imposed on the real estate agent. This establishes that in the exercise of the profession, real estate agents also comply with the principles of dignity. They must then comply with the legal and regulatory provisions relating to this exercise. The real estate agent is required to reveal his capacity with regard to any client, even potential. The real estate agent may not use fraudulent or aggressive maneuvers in order to obtain a sales assignment or a real estate rental assignment.
Obligation to examine the feasibility of the proposed transaction
General duty to collect useful information about :
- the precise description of the real estate object of the real estate contract;
- check whether the property is encumbered or not by a real right or a mortgage registration (in the event of sale or rental of more than 9 years);
- check if the property is free and available [if not, specify the right of rental, conservation or use which affects it];
- appraised price for the property;
- verification of the seller’s declarations.
It is also necessary to take into account the legislation, which is regionally very diverse, and the regulations applicable to property (housing law, town planning, etc.).
What are the different professions
The mandate contract
The mandate is defined by the Civil Code as “the act by which a person (the principal) gives another person (the agent) the power to do something for the principal on his behalf”. The definition of the Civil Code thus envisaged does not make it possible to take into account the essential characteristics of the agency contract. Therefore, it is appropriate to define the mandate as being “a contract by which a person entrusts another person to perform a legal act for him on his behalf”.
The principal is therefore bound by the acts that his agent has performed within the framework of his mission described in the mandate contract. In practice, the contract concluded between the agent and a third party is considered to be concluded directly between the principal and this third party.
The brokerage contract
The brokerage contract is one through which an independent intermediary, called a broker, is responsible for bringing two or more people together in order to enable them to conclude a legal transaction to which he is not himself a party.
Example: the real estate broker places advertising, shows the building, sends offers to the owner, etc.
Main differences between mandate and brokerage
The broker’s remuneration is in principle not reducible while the agent’s remuneration can be reduced by the judge (cf. historically, free office) if the salary is out of proportion with the importance of the services rendered. In the event that the client terminates the contract early, the broker can claim compensation for his loss of earnings when the agent could not.
Brokerage can be reduced to having assets in the portfolio and taking them out, selling a search service for a prospective tenant or prospective buyer in exchange for remuneration (often%).
Property information
As part of its obligations in terms of information on goods for sale or for rent, the intermediary real estate agent:
- always ensures that the prices of the goods that it communicates correspond to those agreed with the seller.
- may not, in its advertising and announcements, mislead people as to the availability and essential characteristics of the goods it presents.
- will only display on the property with the agreement of its principal and will comply with the applicable provisions in the matter for the property concerned.
The essential elements of the transaction
Items in derogation from common sales law:
- date of transfer of ownership;
- the fees and taxes payable by the offeror;
- risk transfers;
- warranty against hidden defects;
- entry into use;
- built-in furniture;
Liability of the real estate agent
The real estate agent requests from his principal the documents and information necessary for the accomplishment of his mission and will carry out, if necessary and to the extent of his possibilities, the appropriate verifications, so as to enable him in particular to transmit reliable information to the persons concerned by the aforementioned. mission.
He will specify, if necessary, the reservations on the points on which he cannot obtain information. He will inform his principal of any new event of which he is aware and likely to have an impact on the latter’s rights and obligations.
The essential characteristics of the property
- The price,
- area,
- co-ownership charges,
- co-ownership information,
- occupation, permits, soils,
- town planning information,
- electrical certificate,
- prescription of the subdivision,
- Energy Performance
The law clearly specifies that it is forbidden to advertise real estate without a PEB certificate.
The PEB certificate data must appear on all posters and advertisements in the three Regions. The PEB certificate must also be communicated by the seller to the future owner before signing the compromise.
What are the obligations of the lessor
The lessor is required to deliver the item in good repair of any kind.
This obligation relates not only to “major repairs” which are normally the responsibility of the lessor during the lease, but also to rental repairs, ie those for which the charge usually falls to the lessee during the rental lease and covered by a rental guarantee
Case law makes the following work the responsibility of the lessor as part of its obligation to deliver:
- refreshing paintings and wallpapers;
- proper functioning of sanitary installations and appliances, heating, water, gas and electricity distribution, fireplaces;
- repair of doors, windows, locks;
- The lessor is responsible, when delivering the goods, to check whether the use of the household appliances fitted to it does not present any danger;
- the rented premises must have sufficient sound and thermal insulation as well as protection against humidity.