Real estate agent / regulated profession
Thereal estate agent is an intermediary whose profession is regulated. He is subject to a Code of Ethics since September 1, 2015.
He holds a card issued by the Chamber of Commerce and Industry (by the prefecture until July 1, 2015), after the authority has verified that he meets the conditions set by law:
To obtain the professional card, thereal estate agent must justify a level of professional competence defined by the law: a diploma, a diploma supplemented by professional experience, or a long professional experience.
Thereal estate agent is also subject to an obligation of honorability: he must not have been the subject of a criminal conviction in the last 10 years.
They must also have civil liability insurance and, if they have the power to receive funds, a financial guarantee. Thus, in case of default of thereal estate agent, his guarantor will reimburse the clients for the funds they would have entrusted to him.
Payments, such as commission or escrow, in connection with the sale or rental of a property, can only be made by crossed check, wire transfer, or money order. Thereal estate agent is obliged to deposit them in a special account, the " escrow account" and to issue a receipt. However, he can cash his fees directly into his commercial account.