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Concrete Analysis | Hong Kong property agents risk disciplinary action if the information they give clients is inaccurate
- Providing any misleading information to in order to close a deal quickly or attract consumers brings disrepute to the trade, warns EAA
- Buyers or tenants can also do their own research instead of solely relying on the information provided by the estate agents
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Why you can trust SCMP
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When listing a property or looking for one for sale, purchase or lease, both the vendor/landlord and the buyer or tenant will most likely consider the relevant market data. Such information could affect their decision making.
If estate agents decide to provide the relevant market data to their clients, they must ensure that the information provided is accurate. Otherwise, they may be subject to disciplinary action by the Estate Agents Authority (EAA).
Estate agents and salespersons should always exercise due care and diligence when ascertaining the accuracy of the information they provide to their clients. According to the Code of Ethics issued by the EAA, estate agents and salespersons should protect their clients against fraud, misrepresentation or any unethical practices in connection with real estate transactions.
Also, in engaging and accepting an appointment as an agent, estate agents and salespersons must not provide any inaccurate or misleading information to their clients so as to protect and promote the interests of their clients.
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Some crucial information, such as the property’s surrounding development plan (which might include any other development, transport, infrastructure and even school networks) and reference property transaction figures, are not included in the land search record or the prescribed property information form.
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