Hoguet law: definition and obligations of real estate agents

La Hoguet law was enacted on March 24, 2014. She oversees the Activities of real estate professionals. This includes real estate agents, the condominium trustees, and those involved in the real estate transaction and management. The purpose of this law is to regulate the profession and to protect consumers.

Les real estate agents must comply with strict rules. This concerns the professional card issued by the chamber of commerce, the written warrants, and other obligations.

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The requirements of the Hoguet law for real estate agents

La Hoguet law imposes several essential rules for real estate agents. They must have a professional card issued by the Chamber of Commerce. This card is essential to work in the real estate sector.

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The professional card and written mandates

La professional card issued is a prerequisite for any real estate activity. It allows you to exercise in a real estate agency or for a condominium trustee. Les sales mandates should always be in writing. The Hoguet law states that written warrants are mandatory, whether they are Simple, co-exclusive, or semi-exclusive.

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Financial guarantee and civil liability

Les real estate agents must subscribe to a professional liability insurance. This insurance protects them against possible errors or professional mistakes. Additionally, if the agent manages funds for their clients, they must also have a financial guarantee. This guarantee protects customers in case of mismanagement of funds.

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Obligations concerning the activities of real estate professionals

The obligations of the Hoguet law are extended to all Activities of real estate professionals. This includes property management, property sales, and condominium trustees.

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Compliance with mandates and legal conditions

Les sales mandates or rental must comply with the Hoguet law. This includes the mention of retainer of the agent and the start and end dates. THEArticle 6 of the Hoguet Act Specify that the written warrants are mandatory, in order to guarantee a transparent relationship between the real estate agent and his client.

It is essential that these mandates respect the conditions established by this law in order to protect both parties, whether they are mandates Simple, co-exclusive or semi-exclusive.

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Continuing education for real estate agents

Agents must follow a continuing education to maintain their professional card. This ensures that they are aware of the latest legal changes. La continuing education is essential to operate legally and to meet market requirements.

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The impact of the Hoguet law on condominium trustees

Les condominium trustees are also affected by the Hoguet law. As real estate professionals, they must respect the same rules as the real estate agents. That includes the financial guarantee, the professional card issued, and the written warrants. They must also comply with all legal obligations for the management of condominium assets.

Les condominium trustees must also have a professional liability insurance. This protects the co-owners against possible damage caused by the actions of the trustee.

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Penalties in case of non-compliance with the Hoguet law

Les real estate agents who do not respect the Hoguet law are exposed to sanctions. This may include the suspension or revocation of the professional card issued. Real estate agents must also comply with written warrants and do not omitprofessional liability insurance.

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The legal consequences of non-compliance

The non-delivery of the professional card or the absence of financial guarantee exposes the agent to legal sanctions. In case of violation of the obligations of the Hoguet law, the real estate agent may be sued. He will then lose his right to exercise.

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The importance of insurability and transparency

It is crucial that all real estate agents subscribe to a professional liability insurance. In addition, transparency on retainer and the conditions of sales mandates is essential. This ensures a relationship of trust with customers.

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Conclusion: respect the obligations imposed by the Hoguet law

Respecting the Hoguet law is essential for anyone wishing to practice the profession ofreal estate agent. This law aims to protect consumers and to regulate the practices of real estate professionals.

It imposes obligations such as the professional card issued By the Chamber of Commerce, the subscription to a professional liability insurance, and the obligation to written warrants.

Les real estate agents must also ensure that they have a financial guarantee and to follow a continuing education. The Hoguet law thus ensures the professionalization of the real estate sector in France.

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❓ FAQ

What is the Hoguet law?

The Hoguet law is a legislative text of January 2, 1970 (and not 2014) that regulates the real estate professions in France. It imposes strict rules on real estate agents, condominium trustees and property managers, in particular with regard to professional cards, written mandates, and financial guarantees.

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What are the obligations imposed by the Hoguet law on real estate agents?

Real estate agents must have a professional card issued by the Chamber of Commerce, take out civil liability insurance, have a financial guarantee if they hold funds, and use written mandates that comply with the law.

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What is the professional card used for in real estate?

A professional card is mandatory to work as a real estate agent or trustee. It certifies that the professional is in good standing, competent, and authorized to practice legally. It is issued for a limited time and must be renewed, in particular through continuing training.

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What is the risk of a real estate agent if he does not respect the Hoguet law?

In the event of non-compliance (absence of a card, lack of insurance or guarantee, non-compliant mandates), the real estate agent is exposed to sanctions: withdrawal of the professional card, legal proceedings, fines, fines, or even a ban on practising.

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