The profession of real estate agent is often associated with the idea that it is an easy and monotonous job where you can earn money quickly. However, it offers a great deal of challenge and variety. The profession of a real estate agent is not limited to customer interaction, but also deals with the economics and basics of land registry, contract and tenancy law and marketing.
First of all, it is important to emphasize that a real estate agent acts as an intermediary between sellers and buyers, assisting them in finding suitable properties and coordinating the purchase or sale.
According to the Civil Code (Art. 1754), an intermediary is:
"... a person who brings two or more parties together to conclude a transaction without being linked to any of them by a relationship of collaboration, dependence or agency".
The most important aspects of brokering are therefore:
• bringing the parties together for the purpose of concluding a transaction, and
• the independence of the real estate agent.
In their capacity as an independent intermediary in the process of buying and selling real estate, the real estate agent plays an important role. The real estate agent must be neutral and have no affiliation with the parties involved as an employee, collaborator, or agent. In return, the successful mediator is adequately remunerated.
The commission is regulated by the Civil Code (Art. 1755):
'The mediator is entitled to a commission from each of the parties if the transaction is concluded thanks to his intervention'.
Moreover, according to Legislative Decree 59/2010, art. 73, every person must declare to the territorially competent Chamber of Commerce before the effective start of the brokerage activity by means of the so-called "Certified declaration of the start of activity as a broker" according to MD 26.10.2011.
The agent is entitled to carry out mediation activities throughout Italy, but may not delegate them to persons who are not registered with the Chamber of Commerce. Offences committed in the exercise of the activity or violations of legal obligations are governed by the disciplinary regulations for brokers (Law no. 39/1989, Ministerial Decrees no. 452/1990 and of 26.10.2011). In addition, the intermediary is obliged to take out adequate liability insurance.
The profession of real estate agent is suitable for anyone who shares a passion for real estate and is interested in buying and selling real estate as well as renting it. The profession offers numerous perspectives and is very versatile.
In the next article we will look in detail at the requirements to be an aspiring real estate agent. Being an estate agent is a profession that not only involves working with real estate, but also working with people and solving daily challenges, thus laying the foundation for an exciting and challenging career.
Interested? Apply now as a real estate agent (m/f/d) at Engel & Völkers South Tyrol • Cortina d'Ampezzo and send an email to jointheteam@engelvoelkers.com.