Buying a first-hand property in a good order environment

Many property buyers are fond of first-hand residential properties and will visit demonstration units at the real estate sales office, and some real estate agents will also solicit business at the sales office

The sales office is crowded. How should consumers choose a real estate agent and protect themselves?

In view of the order problems involving agents in the first-hand real estate sales offices in the past, the Real Estate Agency’s Regulatory Authority (the “ Supervisory Authority ”) has introduced a number of guidelines for compliance by licensed real estate agents in the early years.

In 2018, it further signed a charter with a number of real estate developers

It is hoped that the order of the real estate sales office can be more orderly, provide an ideal sales environment for consumers, and improve the professional level of the industry.

In order to improve the sales order, the Supervisory Authority has stipulated that real estate agents are not allowed to send non-licensed employees to first-hand real estate sales points to conduct any form of promotional activities. This will avoid overcrowding sales offices and consumers from inadvertently entrusting non- Licensees without the protection provided by the Estate Agents Ordinance and the Authority’s guidelines.

In addition, according to the guidelines of the Authority, licensees are also not allowed to conduct any business solicitation activities, stop passers-by or distribute leaflets at MTR stations (including the entrances and exits of the stations). Chasing vehicles poses danger to drivers and other road users.

The EAA has produced a booklet entitled “Being a Smart First-Hand Buyer”, among which there are many things consumers need to pay attention to when buying first-hand residential properties. Prospective buyers may wish to read before making any purchase decision.

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