New Royal Decree for Real Estate Brokerage Agreements
As of February 1, 2024, a new Royal Decree came into effect for real estate brokerage agreements with consumers. The provisions apply to all agreements concluded from that date onward. For contracts concluded prior to this date, the rules of the Royal Decree of January 12, 2007, apply. As a real estate agent committed to open communication, we outline the main changes that are applicable to our collaborations. This blog is purely informative and not intended as legal advice. For complete information, we kindly refer you to our professional federation BIV and the competent authorities.
The brokerage agreement must be drawn up on a sustainable medium. The mention of the date and the specific address where the agreement is concluded must still be included but no longer needs to be handwritten by the consumer. This allows for the creation and signing of digital agreements, eliminating the need for a paper version. If contractually stipulated, a valid offer can also trigger a claim for commission. In this case, the existence of a sustainable medium is sufficient. The monthly obligation to provide information regarding the assignment must also be done on such a medium. This report on the efforts made must at least include the number of interested parties, the number of visits, and the main responses/remarks.
Revocation and termination
The withdrawal period for the consumer is set at 14 calendar days for all concluded agreements. For indefinite duration contracts, the notice period for terminating the contract is a maximum of 2 months. For fixed-term agreements that are renewed or tacitly extended, the notice period is a maximum of 1 month for agreements with a duration of 3 months or less, and a maximum of 2 months for agreements with an original duration of more than 3 months. The termination clause that allows the consumer to terminate the agreement for the future without having to provide a reason, and provided that the property is not sold or rented within the next 6 months, states that the compensation is maximum 50% for agreements terminated during the first 3 months and 25% for agreements terminated after the first 3 months. If the property is indeed sold within 6 months, a higher compensation may still be due.
A list of the required certificates is always attached as an annex to the agreement. It is explicitly stated that real estate agents may charge fees for the efforts they make to obtain documents (e.g., EPC certificate, soil certificate), in addition to the cost of the documents themselves. The agreement must clearly state whether the service of obtaining these certificates is included or billed separately. The consumer must have the option to obtain the mandatory certificates on their own. If they choose to have the real estate agent handle the requests on their behalf and at their expense, they must expressly agree to this for each required certificate. If the price of the certificate is known, the total price must be communicated. If the price is not known in advance but determinable, the calculation method must be communicated. If the price is not ascertainable, it must be stated that additional costs are due, with an indication of the estimated amount. In addition to the certificates, the agreement must also detail the advertising channels that will be used to promote the sale/rental of the property in question.
We hope that this provides some clarity on the new regulations.
If you have any further questions, please feel free to contact our team at email@example.com or 078 48 47 00.