Step 2: Sell residential property via licensed estate agents
Where a vendor appoints a licensed estate agent to handle the sale of a residential property, the estate agent shall comply with the provisions of the Estate Agents Ordinance (Cap. 511), its subsidiary legislations, the Code of Ethics issued by the EAA, and all other applicable guidelines.
Reminder from the EAA: Subject to the exceptions set out in the Estate Agents Ordinance, and unless otherwise stated therein, anyone practising estate agency work in the course of business in Hong Kong must hold a valid estate agent’s licence issued by the EAA.
Appointing licensed estate agents
The EAA is a statutory body established under the Estate Agents Ordinance (Cap 511) to regulate the practice of estate agency in Hong Kong, raise the competence of practitioners and set high standards of ethics and conduct befitting the trade.
How to ascertain whether a person is a licensed estate agent
Verify the licence
Members of the public can ascertain whether an individual or company holds a valid estate agent’s or salesperson’s licence through the “Licence List” on the EAA website. By simply entering the name of the individual, the name of the estate agency company, its business name, or its statement of particulars of business (“SPOB”) number, one can ascertain whether the individual and/or company currently holds a valid licence. The public can also visit the EAA’s office during office hours to inspect in person the Register kept by the EAA.
Meet the agent and check his/her Estate Agent Card
If someone deliberately impersonates a licensed estate agent in Hong Kong (e.g. by using their name or licence number fraudulently), the above steps alone may not be sufficient to verify his/her authenticity. The public may consider meeting the agent in person and requesting him/her to present his/her Estate Agent Card.
Reminder from the EAA: The Estate Agent Card is issued by the EAA and bears the licensee’s photo, licence number, licence expiry date and other relevant particulars.
Check the statement of particulars of business (“SPOB”)
Reminder from the EAA: Regardless of whether an estate agency business is conducted as a sole proprietorship, partnership, or limited company, each firm operating under a specific business name at each business location must apply for a SPOB from the EAA, which must be displayed in a conspicuous location at each place at which the agent carries on business as an estate agent.
If you suspect someone is impersonating a licensed estate agent in Hong Kong or engaging in estate agency work without a licence, you should report the matter to the relevant law enforcement authorities.
When licensed estate agents accept their clients’ appointment to sell a residential property, they must enter into a legally prescribed “Estate Agency Agreement” with their clients. Click here to learn more about important notes regarding the signing of the “Estate Agency Agreement”.