Friday, 6 November 2015

Friday, 6 November 2015

Estate Agents Code of Conduct

Estate agents in France are now obliged to operate under a code of ethics that has been enshrined in statute law.

The code is not just about conduct, but is also relates to competences, as there is an obligation to possess the practical & theoretical knowledge necessary, to ensure agents are informed regarding legislative and regulatory developments and to know the market conditions in which they work.

The code is strongly prescriptive about conflicts of interest, requiring agents to ensure that they do not put themselves into a scenario where a conflict of interest arises. This will catch many agents out as often they commercial ties, (typically a partner who is also a builder / plumber / electrian etc. Agents are now required to inform their clients of possible conflicts of interest.

They are also required to communicate with their (vendor) clients on a regular basis about progress on their sale instructions and any problems that they may be experiencing. That will come as a new event for some agents based upon the feedback that we receive from many vendors.

Allez-Français welcomes this development, our team of agents have always upheld the conduct and skills recommended.

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