Find out what commercial estate agents do, what is best practice, how they are regulated, and further information about commercial estate agency.
Commercial estate agents specialise in the acquisition and disposal of leasehold and freehold commercial (non-domestic) property.
Although the profession is not officially regulated nor has a mandatory route to qualification, many but not all commercial estate agents will be members of RICS or the National Association of Estate Agents.
Our members specialising in commercial real estate agency are both highly qualified and regulated.
Commercial and residential real estate agency practice shares much common ground such as the process of agency and the need for integrity.
Commercial real estate agency however often involves more freehold and leasehold acquisition work for clients and a more complicated letting process requiring a high degree of knowledge and expertise.
Our UK Commercial Real Estate Agency Standards 2011 provides members and others with best practice guidance on all aspects of commercial real estate agency and contains everything needed to do the job.
Although our new standards are not mandatory for our members, courts are likely to refer to them when dealing with professional negligence cases against chartered surveyors.
The new standards cover:
- securing instructions
- acting for the seller
- letting property
- ending instructions
- safety and security
- agency management
- regulation and legislation
The standards are UK standards drawing on a range of UK statutes and statutory instruments, all available online at Legislation.gov.uk.
Further resources from RICS:
Service Charges in Commercial Property 2014
Code of Leasing Practice for Business Premises in England and Wales 2007
For further information contact RICS Library
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