The role of Italian lake Como Estate Agent
The real estate agent’s profession is regulated by the Civil Code and subsequent laws and judgments that have clarified the real estate agent’s responsibility.
The estate agent must act in the interests of both sides simultaneously and, therefore, is entitled to a commission from each party, if the deal is concluded as a result of his actions. The average amount of the commission asked by the Italian lake Como estate agent ranges from 3% to 4%, depending on the price of the estate.
The real estate agent, whether Italian or foreign, must be in possession of specific requirements in order to operate on the Italian territory. Among such requirements the most important are: the Registration with the Italian Chamber of Commerce of the Province where the agent is based and the insurance policy covering the professional risks.
He is obliged to report all circumstances known to him that might affect the success and security of the purchase that he is able to gather with the professional use of intelligence. He is also prohibited to pass on information which are not verified or of which he is not certain.
In short, the real estate agent cannot simply tell the buyer what the seller reported to him , but he has the obligation to verify personally the reliability of all information he receives and make sure that the house is free from mortgages or enforcement actions. Therefore a professional Italian estate agent must check the property in terms of urban, cadastral and mortgage issues before offering the property for sale in order to prevent unexpected surprises.
A professional real estate agent knows in advance all the property issues the buyer needs to know and is able to offer the appropriate solution.