Appoint licensed estate agents when looking for a flat

2024-09-24

Recently, media reported that some Mainland students suffered monetary loss from a suspected fraud case involving renting flats in Hong Kong through an unlicensed estate agent. I would like to remind consumers to stay vigilant, especially non-locals who are unfamiliar with the housing and rental markets in Hong Kong. Whether you are buying or renting a flat, you should better appoint a licensed estate agent for greater protection.

Many non-locals would like to look for properties for accommodation through online platforms before coming to Hong Kong. However, the reliability of property listings on online platforms varies. Even if someone claims to be the owner of the property, it is not easy to verify his identity or the authenticity of the listing. On the contrary, if the advertisements are issued by licensed estate agents, they must comply with the guidelines of the Estate Agents Authority (“EAA”) and must not publish false or misleading information. In addition, they are required to include their licence numbers on the advertisements for identification. The public can ascertain whether the concerned person holds a valid licence by checking the “licence list” on the EAA’s website.

Apart from the authenticity of property listings, I would also like to advise consumers that although property transactions in Hong Kong can be completed directly between the vendor/landlord and the purchaser/tenant, engaging a licensed estate agent can significantly mitigate risks related to safety, property title and legal issues. Licensed estate agents have the professional knowledge in property transactions and leasing and their practice and conduct are regulated by the EAA. They are required to enter into an estate agency agreement with their clients, through which both vendor/landlord and purchaser/tenant could obtain the particulars of each other and safeguard both parties’ rights. Moreover, if the clients suspect any misconduct of the estate agent, they can lodge a complaint with the EAA.

In addition, the EAA has published a booklet titled “Tenancy Guide for Non-local Students in Hong Kong” which is not only useful for Mainland students but for everyone’s reference. Be a smart consumer, appoint licensed estate agents to handle property transactions to avoid falling into scams.

Ruby Hon
Chief Executive Officer
Estate Agents Authority