Notes on appointing an estate agent
- estate agent practising in Hong Kong must be licensed. But it is easy find one who is licensed
- the appointment can be made in a way of "single agency" (i.e., the agent represents only the buyer) and “dual agency” (i.e. the agent represents both the buyer and the vendor)
- estate agent will sign with you an estate agency agreement.
- before signing you should understand the various terms, including validity period of the Agreement (usually 3 months) and agreed commission paid by buyer and seller (usually 1% each BUT the amount or % is negotiable) and other special terms of the Buyer (if applicable)
- ask for a receipt upon paying a fee