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Are you considering buying or selling property in Zimbabwe? Understanding the legal framework governing estate agents' conduct is crucial for ensuring a smooth and transparent transaction. The Estate Agents (Professional Conduct) Rules, established under Statutory Instrument 200 of 1987 and its subsequent amendments, outline the standards of behaviour expected from estate agents in their professional capacity.
The rules cover various aspects of estate agent conduct, including compliance, good faith, conduct towards clients and the public, posing as a purchaser, sole agency arrangements, and ascertainment of agency. Let's delve into some key provisions:
Compliance:
Estate agents are obligated to ensure compliance with these rules, and they may be held personally liable for any contraventions by their employees, partners, or co-directors unless they can demonstrate that they took reasonable steps to prevent such contraventions.
Good Faith:
Agents are required to act bona fide and in a fiduciary manner towards all parties involved in their professional dealings. This includes acting in the best interests of their clients and maintaining strict professional courtesy and integrity when interacting with other agents.
Conduct Towards Clients and the Public:
Agents must provide clients with the benefit of their professional knowledge and experience, acting in their best interests at all times. Additionally, agents are prohibited from engaging in deceitful or dishonest practices, such as posing as prospective purchasers to obtain information from other agents or the public.
Sole Agency Arrangements:
When a property seller appoints multiple agents, only one agent may hold a special promotion for the property, provided they are authorised in writing by the seller for a limited period. This aims to prevent confusion and ensure fair competition among agents.
Understanding these rules not only protects consumers but also promotes professionalism and integrity within the real estate industry. Whether you're a property buyer, seller, or agent, familiarising yourself with these regulations can help facilitate transparent and ethical transactions.
