New Amendments to Real Estate Agent Law: What You Need to Know

2023-06-03 05:00:00

The profession of real estate agent is becoming more and more popular. This is the case thanks to certain television shows, but also thanks to the boom in the sector which began shortly following the confinement of spring 2020. If activity has been slowing down for a few months – economic crisis obliges – we cannot say that the sector in crisis either.

And to cope with the natural evolution of the profession, in the face of new technologies in particular, but also with excesses, the federal government validated this Friday an amendment to the law of February 11, 2013, organizing the profession of real estate agent.

The first change concerns access to the profession. “The first objective of this project is to make more flexible and clarify the conditions for exercising the profession of real estate agent by a legal entity.reads the bill. As the legal person is assimilated to a natural person, it must be able to respond to the same guarantees of competence and respect for ethics, including independence, vis-à-vis consumers and recipients of services. Before the introduction of the regulations, there were certain abuses committed, admittedly by a limited number of professionals, but whose actions might cause significant damage to clients and damage the image of the profession.

Soon, some adjustments will come to soften the administrative load which rests on a moral person, but also its place in the body of management of the real estate agency in which it exerts. Also, agents subject to a sanction will now be obliged to respect it. “Still with the idea of ​​ensuring compliance with professional ethics, it is now explicitly provided that a person struck off or suspended cannot practice the profession under the ties of an employment contract either (herefollowing “worker”) for the duration of his sanction. It is in fact necessary to prevent a real estate agent struck off or suspended from continuing to carry out activities as a worker under the supervision of a self-employed person, who in this case may be a straw man. […] Another novelty planned is the possibility of being registered on the basis of professional experience. Specific skills and good professional behavior are acquired via the training title, but above all during the internship which makes it possible to obtain the professional maturity necessary for the exercise of the profession.”, we learn.

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