isurv

Securing instructions

2 Securing instructions

Prior to accepting an instruction (commencing work), you must clarify for whom you will be working and how you will be paid, thereby spelling out unequivocally whose interests you will be representing. You will act with partiality usually to represent the interests of one of the contracting parties (unless you are operating in a brokerage situation).

This chapter gives advice on securing instructions from either a seller or a buyer. Following this guidance will help you to meet the following principles in the Real Estate Agency Code:

 1.  To conduct business in an honest, fair, transparent and professional manner.
 3.  To ensure that clients are provided with terms of engagement which are fair and clear, incorporate details of complaints handling procedures and, where existing, an appropriate redress scheme, and meet all other legal requirements and relevant codes of practice.
 4.  To do the utmost to avoid conflicts of interest and, where they do arise, to deal with them openly, fairly and promptly.
 10.  To ensure that it is made clear to all parties for whom you are acting the scope of your obligations to each party.

The first part of this chapter provides general guidance regarding the securing of instructions. The chapter is then divided into:

  1. disposals;
  2. acquisitions; and
  3. sub-agents.

This chapter also provides specific guidance for commercial agents operating in the UK that will help towards meeting the relevant requirements of the legislation summarised in chapter 10. You can read more about these Acts and Regulations in the specific sections listed below.