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20190319 (Tue) Differences between MEAS 2014 & MEAS 2018, Standard 3.

20190319 (Tue)

Differences between MEAS 2014 & MEAS 2018, Standard 3.

Go here to read the actual Standard 3 MEAS 2018.

Standard 3 – TYPES of Estate Agency Engagement (inserted “Engagement” in the title).

Changes are obvious on making “engagement” the rightful term to use, hence all estate agents are “engaged”, not “appointed”.

Addition to Standard:
3.2.6 The acceptance of an exclusive or sole agency places upon an estate agent the strongest obligation to render estate agency services to the expectations of the Client.

Hereby, emphasizing that Exclusive and Sole agency are two engagements where highest obligation should be given.

Added in Explanation Section:
3.3.1 Estate agency engagements are governed by the Principal-Agent relationship under the Contracts Act 1950 and it is therefore important for Estate Agents and Negotiators to understand their respective obligations under the Law of Agency.

Signifying that different types of engagements carry different contractual obligations.

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