Real Estate Agent Regulations and Obligations Quiz

Real Estate Agent Regulations and Obligations

• Professional real estate agent card requests cost €160 for initial issuance, €68 for edit, and €130 for renewal.
• Mandatory continuing education for real estate agents requires at least 42 hours of training over 3 consecutive years, covering legal, economic, and ethical subjects.
• Display obligations for real estate agents include showing professional card number, financial guarantee details, and prices for services.
• Proportional pricing for services is permitted, but price ranges are prohibited, and rates must be set for each service offered.
• Approval from the DGCCRF is available for checking compliance with price display regulations, with a response within 2 months.
• Advertisements for sales must include information on fees and VAT, while rental ads must detail monthly rent, charges, security deposit, and fees due.
• Hiring a collaborator or employee as a real estate agent involves detailed formalities and may qualify for financial aid.
• Real estate agents must provide an authorization certificate to employees, justifying their skills and authority to negotiate on behalf of the agent.
• Real estate agents acting as sales agents are independent intermediaries, receiving payment on commission.
• The role of a commercial real estate agent involves acting as an intermediary between buyers and sellers, without being bound by an employment contract.
• Commercial real estate agents are not allowed to engage in commercial acts, and their remuneration is based on commission.
• Real estate agents can request a certificate for commercial real estate agent status through a teleservice.

Real Estate Agent and Employee of a Real Estate Agency: Key Information

• To exercise as a real estate agent, mandatory conditions include holding a level III diploma, not having experienced personal bankruptcy or a management ban, obtaining professional civil liability insurance, and registering with the RSAC as an individual entrepreneur.
• The missions of a real estate sales agent are similar to those of a real estate agent, involving tasks such as property search, signing mandates with owners, estimating property values, placing ads, showing properties, advising clients, and supporting buyers and sellers in transactions.
• Real estate sales agents are responsible for verifying various elements of a transaction, such as customer income, property details, and energy efficiency, and they are not authorized to draft commercial documents or provide legal advice to clients.
• Registration with the RSAC is required for real estate sales agents, and this process involves creating a business on the Single Window for Businesses website.
• Since January 1, 2023, procedures for real estate sales agents cannot be carried out in a Business Formalities Center (CFE) and must be completed on the website of the business formalities desk.
• An employee of a real estate agency is mandated by the real estate agent for whom they work and must have the professional "real estate transaction management" card.
• The employee of a real estate agency is bound by an employment contract and is under the responsibility of the real estate agent and agency, with specific missions outlined in the contract.
• Employees of real estate agencies do not have the right to develop their own clientele and are entitled to employee social protection, including unemployment insurance.
• Employees of real estate agencies receive a salary, and they can also work as VRP negotiators, paid by commission or with a guaranteed minimum salary.
• Mandatory conditions for exercising as an employee of a real estate agency include holding a level III diploma, complying with the conditions for carrying out commercial activity, having professional civil liability insurance, and being mandated by the real estate agent.
• Real estate agents must request and send an authorization certificate to employees, proving that they are delegating part of their missions, and employees must undergo continuing training in the real estate sector over three years for renewal.
• Unlike commercial real estate agents, employees of real estate agencies have the right to receive or not receive funds.