Double broker

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This article or paragraph describes the situation in Austria . Help us to describe the situation in other countries.

A dual broker works for both parties to a brokered business, i.e. for the seller or landlord and the buyer or tenant of a property or a right to use a property ( timeshare in accordance with the Timeshare Act).

A dual brokerage activity is prohibited according to the Brokerage Act without the consent of the client. With real estate agents , however, it is also permissible without consent, because there is a corresponding business use in commercial business about immovable property.

When working as a dual broker, the broker has an obligation to notify (Section 5 (3) BrokerG). In the business with an end consumer according to § 30 Abs. 1 KSchG , this reference to the dual brokerage activity must be made in writing. The obligation to notify does not apply if the broker can assume that the client (who is not an end consumer) is aware of the dual activity. The broker also has an obligation to provide information to third parties if he only works for one client (Section 17 BrokerG).

The double broker is also obliged to protect the interests of both clients. However, reciprocal payment does not have to be present (see, for example: "Free of commission for the buyer").

Sanctions for impermissible dual brokerage:

  • Handing out the reward
  • Compensation
  • Moderation of the commission (Section 3 (4) second sentence MaklerG)
  • premature termination of the brokerage contract for an important reason

commission

As a dual broker, the broker may demand the highest possible brokerage commission from both the buyer and the seller. With a sales price of over 48,448 euros, the commission is a maximum of 7.2% (including VAT) of the sales price achieved.

Maximum commission rates for property sales:

Purchase price: excluding VAT including VAT.
up to 36,336 euros 4% net 4.8% gross
from 36,337 to 48,448 euros (lump sum) 1,453 euros net 1,743.60 euros gross
from 48,449 euros 3% net 3.6% gross

See also

literature

  • Zekely, Felix. Dual Brokerage - Regulation and Practice . Vienna 2012, Master's thesis in real estate courses at TU Vienna.

Web links

Individual evidence

  1. ↑ RIS - Consumer Protection Act - Consolidated Federal Law, version dated June 25, 2019. Retrieved June 25, 2019 .
  2. ↑ RIS - Broker Act - Consolidated Federal Law, version dated June 25, 2019. Retrieved June 25, 2019 .
  3. ↑ RIS - Professional and Exercise Rules for Real Estate Agents - Consolidated Federal Law, Version of June 25, 2019. Retrieved June 25, 2019 .