ACTORS, THEIR ROLES AND POWERS
The customer must be notified of who serves, on the prerogatives of stakeholders working in the field of real estate and, for most, claim a personal service.
Some countries or states have already adopted resolutions that are at least specified the powers or even, for those whose laws are the most advanced, applied text intended to remove all sources of conflict of interest or that the provider becomes unable to be at the same time committed to both parties.
Until this is a widespread practice, the European Buyers Agents Society provides information on a subject that must be addressed by any serious organization.
Your interests depend on the good analysis of the business environment in which takes place your Real Estae search, then on the following definitions, here rarely published and nevertheless important.
REAL ESTATE ENTITIES
The direct protagonists
Exclusive Buyers Agents, or "EBA" (abbreviation) : Realtor's business card holder, whose mandate can only relate to buying customers. He never holds any listing for the sale of real estate products or provide a service in this way to avoid conflict of interest. This term, translation and EBA abbreviation of Exclusive Buyer Agent is recognized and protected in the Anglo-Saxon countries.
Members of the European Buyers Agents Society are all Exclusive Buyers Agents.
Real Estate Agent (official name) : professional holder in most countries of a Real Estate transactions and/or property management card (not to be confused with a simple proof of employment). These documents are issued by accredited authorities of the place of exercise in view of skills recognised by the Government.
Only he can intervene in the sale or rental of Real Estate by connecting sellers and buyers, to visit and perform the transactions described in law as the operation of intervention.
Real estate sales agent (official name) : This is a non salaried real-employed trader acting on behalf of an agent principal who grants him a temporary certificate of employment.
In France, he is never allowed to practice the activities listed in Article 1 of the Law of 2 January 1970 "Hoguet," that is to say, to visit and intervene directly, without being himself a holder of the professional real estate agent card.
Independent proxy agent, adviser, consultant... : these unconventional names have succeeded in spite of and after the initiative to formalize the prerogatives of the providers of real estate taken so that the customer can be informed about it. These terms should therefore be used in addition to a status determining the quality of the speaker : one who has the expertise recognized by the state to visit and intervene (in the words of the Act of 2 January 1970 in France) and who does not have.
Names without recognized meaning, they should not be confused with that of the Real Estate agent and lead to the same restrictive remark of privileges as for the sales agent, the status which they can be connectes with.
Designated dual services or split agency : entity or group directly or indirectly employing stakeholders whose liability is established with respect to customers whose interests diverge (two players of this agency may well end up "face to face," the one side saleman, the other side buyer).
An agency dedicated to service or any of its representatives cannot be eligible for an AFCIE approval, the conflict of interests being latent (operating in "dual agency" dual agency representation), especially since no suited legislation exists.
Dual Agent or agency : both parties are attended by the same person, who then appears as intermediary. Conflict of interest is thus inevitable, the context of a person involved in the sale of a product, the mandate of which he holds, remains unfavorable to the buyer.
This functioning, legal in Europe, can simply be banned in some countries where legislation is advanced, although common, it is antithetical to that which governs the concept of property hunter whose job search must be exhaustive.
Property & Real Estate hunter or finder (generic name) is at the base, a real estate agent serving the buyer who is in charge of looking for a property from a specification, visits and supplies reports, negotiates the price and accompanies his client to the signing of the deed.
Given the current uncertainty about the true representative of the provider, it will be necessary to add "Exclusive Buyers Agent" for it to be asserted. Excluding the AFCIE European Buyers Agents Society, the risk is high of being in the presence of the last two entities mentioned above.
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Exclusive Buyer Agent & property finder Aberdeen Amsterdam Athens Barcelona Bayonne Belgrad Berlin Bern Biarritz Bordeaux Bratislava Brussels Bucarest Budapest Copenhague Dublin Dusseldorf Edinburgh Florence Geneva Glasgow Helsinki Innsbruck Leeds Lille Lisbon Ljubljana London Lyon Luxembourg Madrid Malta Manchester Marseille Milan Munich Nice Nicosie Paris Porto Prague Riga Rome Salzburg Seville Sofia Split Strasbourg Stockholm Tallinn Toulouse Venice Vienna Vilnius Warsaw Zagreb Zurich...
In french L'éditorial sur la chasse immobilière - A propos de l'association fédérale des chasseurs immobiliers - A propos du conflit d'intérêts dans l'immobilier - A propos du concept d'agent exclusif en français