Standard for the Provision of Services by Real Estate Agents
Standard EVS-EN 15733:2010 Services of real estate agents – requirements for the provision of services by real estate agents (Hereinafter: the Standard) is the European standard confirmed by the Estonian Centre for Standardisation in 2010, which represents the first European consensus in defining the requirements for real estate agent services.
This European standard applies to inter-company and business-to-consumer services. There are legal norms governing real estate agents in many countries that must be taken into account. Real estate agents must follow all applicable relevant European and national legislation. In the case of conflicts, European and national legislation shall prevail over the European standard. The requirements of the European standard apply to all services, including those offered electronically and via the internet.
The Standard specifies the requirements for real estate agent services, which include:
- advice (provision of information on the market value of a property etc.);
- marketing and advertising of real estate;
- services for purchase and sale;
- services connected with rental, letting and leasing;
- establishment, acquisition and registration of real estate-related rights;
- surveying of buildings and plots;
- drafting of contracts;
- visual examination of real estate and organisation of showing;
- establishment of contact and facilitation of communications between the buyer and the seller.
The Standard specifies the requirements for client relationships, including which information must be transmitted by the agent to the client; what the agreement between the agent and the client should be; and which information should be communicated by the agent regarding the object. There is separate specification of what information should be submitted by the real estate agent to the purchaser in the event that the agent acts as the seller’s representative.
The Standard defines the requirements for the provision of services and real estate agent qualifications and competences, and a code of conduct is also presented, which a real estate agent must follow.
The full text of the Standard is available at the homepage of the Estonian Centre for Standardisation.