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Before choosing a Real Estate Agent, you need to consider this:
Real estate agents must adhere to various standards, including those set by the Property Practitioners Regulatory Authority (PPRA), the Protection of Personal Information Act (POPIA), the Financial Intelligence Centre (FIC) and other relevant regulations governing consumer protection and data privacy. Adherence to these standards reflects our commitment to ethical practice and professional responsibility.
By Century 21 Hartbeespoort
If you are a homeowner, it is essential for you to understand the responsibilities of a Real estate agent and the legal framework in which we operate before you appoint someone to assist you in selling one of your most valuable assets.
By Century 21 Hartbeespoort
If you are a homeowner, it is essential for you to understand the responsibilities of a Real estate agent and the legal framework in which we operate before you appoint someone to assist you in selling one of your most valuable assets.
Real estate agents must adhere to various standards, including those set by the Property Practitioners Regulatory Authority (PPRA), the Protection of Personal Information Act (POPIA), the Financial Intelligence Centre (FIC) and other relevant regulations governing consumer protection and data privacy. Adherence to these standards reflects our commitment to ethical practice and professional responsibility.
Here are some things to consider when it comes to the responsibilities of your Real Estate Agent towards you as the seller;
- Authority to Market
The journey of selling a property begins with a signed mandate. Although some agents often tend to overlook these documents which may be seen as an unnecessary hassle, Real estate agents must obtain a signed agreement from the seller, which legally allows them to market the property. This mandate outlines essential terms such as marketing strategies, pricing, and commissions. Without this agreement, an agent cannot legally advertise or sell the property, emphasising the importance of formalising the relationship from the outset.
- Mandatory Disclosure of Defects
Transparency is a cornerstone of good real estate practice. The seller is required to disclose these defects to the agent at the time of listing the property by way of a mandatory disclosure form so all aspects which would influence the property’s value can be disclosed to potential buyers at viewing stage. This mandatory disclosure not only ensures transparency but also protects the seller from future legal claims. By being upfront about any issues, we build trust with buyers and uphold our integrity, fostering a positive reputation in the market.
- Submission of All Offers
An agent’s duty is to present all offers received on the property to the seller, regardless of the price offered. This allows sellers to make fully informed decisions about their property. It is not the agent’s role to filter offers based on personal judgment; every offer must be considered to ensure the seller can evaluate all potential opportunities. Buyers are chancers! So next time your property practitioner comes with a ridiculous offer, take this as your golden opportunity to start engaging in the negotiation process to get to a mutually beneficial agreement.
- Accurate Representation
In the realm of real estate, accurate representation is paramount. Agents must ensure that all property descriptions and information provided in marketing materials are truthful and verifiable. Misrepresentation can lead to legal consequences for both the Property Practitioners and the Sellers. By providing accurate and honest information, we maintain the trust of our clients and ensure the integrity of the broader market.
Promoting Good Business Practices and Compliance
As sellers, it is vital to ask the right questions and ensure that your real estate agent is committed to ethical practices and compliance. Here are a few things to consider when you are hiring a Real Estate Agent:
- Verify Credentials: Ensure that the agent is registered with the PPRA and has a valid fidelity fund certificate. This ensures accountability towards a set code of conduct and ensures that the agent is committed to their continuous professional development and a high level of training. Without a valid FFC, an estate agent is not entitled to earn commission on real estate transactions.
- Ask for a Detailed Marketing Plan: Understand how the agent plans to market your property and reach potential buyers.
- Review the Mandate: Carefully read and understand the terms of the mandate before signing an authority to sell, to ensure that the terms are mutually beneficial.
Hiring a real estate agent is a significant decision that should not be based on personal relationships alone. Your aunt in Durban who was an agent 10 years ago may not be the right agent to sell your home in Harties!
It is crucial to choose a professional who demonstrates integrity, knowledge of the area, and a commitment to professionalism. By doing so, you can ensure a smooth and successful property transaction.
At Century 21, we pride ourselves on upholding these standards, ensuring that we provide exceptional service to our clients. If you have any questions or need further information, do not hesitate to reach out. Your property is our priority, and we are here to guide you every step of the way.
Adherence to these standards reflects our commitment to ethical practice and professional responsibility.
Here are some things to consider when it comes to the responsibilities of your Real Estate Agent towards you as the seller;
- Authority to Market
The journey of selling a property begins with a signed mandate. Although some agents often tend to overlook these documents which may be seen as an unnecessary hassle, Real estate agents must obtain a signed agreement from the seller, which legally allows them to market the property. This mandate outlines essential terms such as marketing strategies, pricing, and commissions. Without this agreement, an agent cannot legally advertise or sell the property, emphasising the importance of formalising the relationship from the outset.
- Mandatory Disclosure of Defects
Transparency is a cornerstone of good real estate practice. The seller is required to disclose these defects to the agent at the time of listing the property by way of a mandatory disclosure form so all aspects which would influence the property’s value can be disclosed to potential buyers at viewing stage. This mandatory disclosure not only ensures transparency but also protects the seller from future legal claims. By being upfront about any issues, we build trust with buyers and uphold our integrity, fostering a positive reputation in the market.
- Submission of All Offers
An agent’s duty is to present all offers received on the property to the seller, regardless of the price offered. This allows sellers to make fully informed decisions about their property. It is not the agent’s role to filter offers based on personal judgment; every offer must be considered to ensure the seller can evaluate all potential opportunities. Buyers are chancers! So next time your property practitioner comes with a ridiculous offer, take this as your golden opportunity to start engaging in the negotiation process to get to a mutually beneficial agreement.
- Accurate Representation
In the realm of real estate, accurate representation is paramount. Agents must ensure that all property descriptions and information provided in marketing materials are truthful and verifiable. Misrepresentation can lead to legal consequences for both the Property Practitioners and the Sellers. By providing accurate and honest information, we maintain the trust of our clients and ensure the integrity of the broader market.
Promoting Good Business Practices and Compliance
As sellers, it is vital to ask the right questions and ensure that your real estate agent is committed to ethical practices and compliance. Here are a few things to consider when you are hiring a Real Estate Agent:
- Verify Credentials: Ensure that the agent is registered with the PPRA and has a valid fidelity fund certificate. This ensures accountability towards a set code of conduct and ensures that the agent is committed to their continuous professional development and a high level of training. Without a valid FFC, an estate agent is not entitled to earn commission on real estate transactions.
- Ask for a Detailed Marketing Plan: Understand how the agent plans to market your property and reach potential buyers.
- Review the Mandate: Carefully read and understand the terms of the mandate before signing an authority to sell, to ensure that the terms are mutually beneficial.
Hiring a real estate agent is a significant decision that should not be based on personal relationships alone. Your aunt in Durban who was an agent 10 years ago may not be the right agent to sell your home in Harties!
It is crucial to choose a professional who demonstrates integrity, knowledge of the area, and a commitment to professionalism. By doing so, you can ensure a smooth and successful property transaction.
At Century 21, we pride ourselves on upholding these standards, ensuring that we provide exceptional service to our clients. If you have any questions or need further information, do not hesitate to reach out. Your property is our priority, and we are here to guide you every step of the way.