The implementation and validity of the buyer principle from 1 July 2023 raises a number of questions. As this date draws ever closer, I would like to pass on and quote the information and summary from the Chamber of Commerce, Real Estate Division, as follows:
With effect from 1 July 2023, a new Section 17a of the Brokers Act (MaklerG) will enshrine the first client principle for the brokerage of residential tenancy agreements. For brokerage agreements (brokerage contracts) concluded from 1 July 2023 onwards, the broker's commission is to be paid by the party to the contract that initiated the broker's service as the first client.
If the landlord is the estate agent's first client, a commission agreement with the person seeking accommodation will be excluded in any case from 1 July 2023 in accordance with Section 17a (1) MaklerG.
Even if the flat seeker is the broker's first client, no commission obligation may be imposed on the broker from 1 July 2023 under certain conditions (economic ties between the broker and the landlord or administrator; the landlord refrains from concluding a brokerage agreement solely to obtain a commission obligation from the flat seeker; the flat to be brokered has already been advertised by the broker) in accordance with Section 17a (3) MaklerG.
The first client principle is flanked by a documentation obligation on the part of the estate agent with regard to the time of the commission in order to be able to better determine whether a commission claim may be asserted against the home seeker in the event of successful brokerage.
From July 2023, things will definitely get exciting with lettings!
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