Myth or truth – what a real estate agent can and cannot do (Part 1)
Myth 1: Legal advice from the real estate agent
Real estate agents are not qualified to provide legal advice on sales and purchase agreements and are not permitted to do so. Only lawyers are permitted to do this.
This myth is partly true.
Only persons who are authorized to provide extrajudicial legal services are permitted to examine simple legal matters. A real estate agent does not have this permission. Unless they act as an expert. This is clear from the ruling of the Federal Court of Justice (BGH I ZR 152/17) of July 12, 2018. According to this ruling, there is an increased duty to provide information and advice, especially if the customer enters into a risky transaction or is persuaded to conclude an unfavorable and hasty contract as a result.
Myth 2: Brokers and technical damage assessment
Since brokers are not experts in building contaminants or damage to real estate, they cannot provide technical assessments.
This myth is true.
If owners want to have their property inspected for damage and pollutants, an expert should be commissioned for this purpose. However, if the house or apartment is also to be sold, it is advisable to hire a real estate agent in addition to the expert. This is because experts are not able to market real estate. However, if you are looking for a suitable expert, you can often find a regional expert quite easily through the real estate agent's network.
Myth 3: Real estate agent preferential clauses in purchase agreements
Brokerage commission clauses often appear illegally in purchase agreements and must then be laboriously removed.
This myth is not true.
Only if the buyer and seller unanimously agree to include confirmation of the agreed commission in the contract will the corresponding clause be included in the contract. Otherwise, both parties only include the agreements customary for the contract in the legal document. However, there is one exception: the broker is then entitled to a separate claim if a right of first refusal is pending. The notary may only act in accordance with the wishes of the contracting parties.
Do you have questions about buying or selling a property? Or would you like advice? Then get in touch with us. We will be happy to assist you.
Notes
For reasons of better readability, the generic masculine form is used in this text. Female and other gender identities are expressly included insofar as this is necessary for the statement.
Legal notice: This article does not constitute tax or legal advice in individual cases. Please consult a lawyer and/or tax advisor to clarify the facts of your specific case.
Photo: © runzelkorn/Depositphotos.com