Statement of Particulars of Business required for all estate agency premises

Under Section 10 of the Estate Agents (Licensing) Regulation (“Licensing Regulation”), a licensed estate agent must apply to EAA for a Statement of Particulars of Business before carrying out estate agency business at any place under a particular business name. The licensed agent must also pay the Authority the relevant licence fee in respect of such business.

Recently, EAA's Disciplinary Committee found that a licensed estate agent had conducted business in a shop without a valid Statement of Particulars of Business, contrary to Section 10 of Licensing Regulation. The Committee imposed a $5,600 fine and issued a reprimand against the agent concerned.

Practitioners are therefore reminded that a breach of Section 10 of Licensing Regulation may result in disciplinary action by EAA.