For real estate intermediaries, several key aspects from the general business terms are of great importance:
- Signing a mediation agreement: The intermediary must conclude a mediation agreement with the principal (buyer or tenant). This agreement is the foundation for all mediation services.
- Mediation obligation: The intermediary must ensure they were the first to enable property viewing to the buyer or tenant, as this creates the right to commission. If the buyer or tenant already viewed the property before the intermediary arranged it, the intermediary must be informed.
- Signing a property viewing confirmation: The buyer or tenant must sign a viewing confirmation before viewing the property, confirming they viewed it through the intermediary's mediation. If they refuse to sign, the intermediary isn't obligated to show the property.
- Evidence of mediation: If the buyer or tenant concludes a purchase or lease agreement without previously signing the viewing confirmation, the intermediary must prove they connected the buyer/tenant with the seller/landlord. This can be proven with witnesses, written or electronic documentation, or even SMS messages.
- Commission payment obligation: The intermediary has the right to compensation from the principal (seller or landlord) for connecting them with potential buyers/tenants, regardless of whether they previously viewed the property. If the intermediary connects someone who already viewed the property, they must inform the principal; failure to do so means the principal is considered connected for the first time through the intermediary.
Intermediary's obligations are:
- To conclude a written mediation agreement with the principal.
- To find and connect the principal with potential buyers or tenants.
- To provide objective opinions on property prices or rental amounts, considering market conditions.
- To verify documents proving ownership or other real rights to the property and warn the principal of potential risks.
- To perform necessary property presentation activities (advertising, arranged activities) and may request additional costs for these.
- To enable property viewing.
- To maintain principal and property data confidentiality as business secrets, per principal's instructions.
- To inform the principal of all relevant circumstances regarding the transaction.
- To mediate negotiations and work toward reaching an agreement.
- To provide legal assistance for contract preparation and other necessary documentation.
- To attend property handover.
The intermediary is considered responsible if they enabled the principal's contact with potential buyers/tenants, especially if they organized viewings, meetings, or informed the principal about relevant third-party information.
Intermediary's rights:
- The intermediary may, with principal's consent, photograph and video record the property for marketing purposes.
- The intermediary may, with principal's consent, conclude a Submediation Agreement and transfer their rights and obligations to another intermediary.
- The intermediary must provide the principal with a copy of the Submediation Agreement within five days.
- The intermediary has the right to issue an invoice to the principal for services under the Mediation Agreement.