Important information that a smart consumer should know before appointing an estate agent.
The EAA’s principal work includes organising qualifying examinations, issuing licences to individuals and companies, handling complaints against licensees, conducting compliance inspections and meting out disciplinary sanctions to practitioners who have breached the EAO. The EAA also organises activities for the professional development of the trade and promotion of consumer education.
Estate agents must comply with the EAO and its subsidiary legislation, including in particular the Estate Agents Practice (General Duties and Hong Kong Residential Properties) Regulation in respect of Hong Kong residential properties. They should also comply with the Code of Ethics and all the Practice Circulars issued by the EAA.
The Estate Agency Agreement for residential properties is a form prescribed under the Estate Agents Ordinance and there are standard formats: