The activity of real estate agent and real estate agency is regulated by the law on the inflow of companies and OG3 / 2000 regarding the activity and legal obligations of the real estate agent.
Unfortunately, this is somewhat non-productive in the sense that it is full of confusion and unrelated to a law that basically regulates an economic activity with profound implications. In practice, respectable real estate agencies have adopted the code of ethics and good practice so that you can resolve your real estate problem safely, quickly and professionally.
The practice of the real estate market in Romania has imposed a so-called double real estate agent that can represent both the buyer and the seller. Representation by a dual agency requires the knowledge and consent of both parties, the seller and the buyer. In fact, the double agent is committed to serving the interests of both parties. This happens throughout the transaction. The commission of the real estate agent is paid by both the seller and the buyer. The amount of the commission is usually between 3-5% and divided between the seller and the buyer. At rental, the commission is around a month's rent. If you are working with a real estate agent, you have two options: you can work with an agent under exclusive contract or you can work with an agent under an open brokerage contract. Serious real estate agencies offer their clients a full range of real estate services besides presenting real estate, offering consultancy, market studies, evaluations and assistance at the end of the transaction. So, when you pass the threshold of a good agency, you know that your employees will show you many houses (first pictures, sketches or video, then watching on the field), they will inform you about the evolution of the market (expensive, cheaper housing) and they will tell you whether the asking price is justified or not in comparison with the offer.
Choosing a real estate agency
Theoretically, in a real estate company you have to find qualified staff to ensure your safety and optimum conditions at the end of the transaction, and any deviation from a real estate agent leads to his exclusion from the guild. But it's not always like that.
First of all, the agency must be easy to identify. The firm must have a fixed office, be signposted (with the company at the entrance), have an office set up as a working point with the public, with a secretariat, but also with a bargaining room, where it is possible to discuss in detail with the clients the details related to payment, money, confidentiality, etc. Agents need to be prepared, kind, ready to offer you all possible support. It is good for the agency to be affiliated with a professional union, where you can check its activity, if it has had irregularities and if it is accredited. The most famous association of real estate agencies is the Romanian Association of Real Estate Agencies (A.R.A.I.). We believe that ultimately the most important factor is the confidence the people in the agency inspire. However, accreditation is not required.
Take care of ghost agents (they are those who change their workplace at least twice a year to avoid being found by the deceived clients). They can not even be called real estate agents because there are only three or four burglars in a blockhouse apartment or in an apartment. Some of them also have perfectly legal acts (they have evolved and learned to adapt). In the absence of adequate legislation, there are all sorts of dubious characters that have the sole purpose of cheating the naive. Today, the real estate market is known for serious real estate agencies, but many people do not want to pay commission (real estate agencies to do voluntary work) or pay as little as possible (without appreciating the work and efforts of realtors) on the hands of some excruciating ghost agents - who promise them very small commissions or a 0% commission.
Steps to follow in dealing with a real estate agency
If you want to sell a real estate, contact the real estate agent and give it the most detailed offer, consult with the real estate agent on the price you want (interest is mutual - both parties want to get a higher price, but real), ask for the agent's name and provide a phone number and the hours you can find at that phone number. After you received the offer, it was included in the Agency's database and agreed to represent the property by the agency, then a real estate agent would watch the property. When viewing, the agent may ask you to sign a viewing contract (to justify the company's hours of missing or to fill in the agency's database) or an exclusivity agreement (this contract means giving the agency a 1-3-month exclusivity, where you will not work with other real estate agencies because the company that wants this contract invests in advertising your property to find potential buyers). If you signed an exclusivity agreement and you do not respect it, then you will be charged for the commission or penalties mentioned in the contract.
The step step is where the real estate agent comes with potential clients to present their real estate. You can have the luck that the first customer is also the one who wants to buy your property, but do not be scared, the real estate agent, because of the exact and complete information, selected the client that best suits your offer. If you understand the price sell, go to the agency or notariate to conclude the pre-contract (this pre-contract is very important and without it is almost impossible to sell).
At the pre-contract the owner comes with the original documents of the property and with the identity document (the one who comes to pre-contract as the seller must be one of the owners or have a proxy of representation specifying what the owner has mandated).
The brokerage agreement (pre-contract or pre-contract) concluded by the real estate agency in the case of a real estate transaction is drawn up in three copies and must contain:
company name (company name, address, telephone and fax number, trade register number, fiscal code)
the registration number of the contract
the date at which it ends
the name and all identifying information of the owner and the customer
the home that is the object of the contract (its full address and the way it is acquired by the owners, on the basis of which the documents)
the price at which the transaction is concluded by mutual agreement between the parties
agency commission (usually between 3% and 5% + VAT of the transaction value paid by both parties: seller and buyer).
the term up to which the transaction ends
penalties that are payable on the fault of one party or another
contractual clauses with obligations and liabilities for each party
the original signatures of the client, the owner and the representative of the real estate company
the original stamp of the real estate company and the partition if applicable
At the conclusion of the brokerage agreement, an advance payment is made by the buyer (which often remains in the transaction security agency) and the owner leaves the copies in order to be verified and drawn up for the contract of sale to the notary. If the transaction can not be terminated by the seller's fault (if the owner hides the agency and the purchaser from having a mortgage or a head office), the buyer will be able to easily recover the given advance (and then any compensation if deemed necessary ). The owner can also leave the original documents (until the conclusion of the sale-purchase contract with the notary is drawn up a report or the documents remaining in the agency are specified in the pre-contract).
The brokerage agreement ends only at the headquarters of the real estate company (this way you see where it is located and if they have it). The agency's office must be visibly displayed, its commission, the registration certificate of the company, any licenses or certificates of membership of an association or professional real estate union.
The Real Estate Agency is not a "Recovery Company" and does not take responsibility if the owner has made the advance and has spent it without being able to return. There are special cases where each speta has a separate resolution.
When all the papers are ready for sale to the notary, only the signing and receiving of the money in front of a notary public (not more than 50000 Lei) the rest of the amount is made by bank transfer.