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Title

Legal issues arising from remuneration of real estate brokers in Macau

English Abstract

Brokerage activity came out as a method for facilitating conclusion of transaction. Until 2012, real estate brokerage activity is not regulated by Macao´s lawmaker. Anyone could be real estate agent without any professional qualification or accreditation. Also, before appearance of the new Law no. 16/2012, the real brokerage contract does not need to written which implied one minor consumer protection, especially in litigation about broker´s right to remuneration. Remuneration of the broker requires special consideration is not only because it is the most sensitive part of brokerage contract, but also because it involves varies distinct but related aspects: event which will entitle broker to commission, the amount of commission and the calculation of commission. There are three events with those we can probably consider the broker had concluded his job, therefore he is entitled to his remuneration. These are: introduction of one person who is able, ready and willing to purchase or sell, celebration of the contract, completion of sale and purchase. Among of these three options, which event will entitle broker to his remuneration is object of discussion of this these. In other words, the crucial question which will be discussed is about “What exactly has to happen for the agent being able to claim his commission? The broker has one obligation to do or obligation to achieve a specific result?” As this is usually the most common cause of disputes between principals and brokers or agents, it is important that the parties distinguish clearly between those events which will give rise to a commission payment, and those which will not. Mostly, the parties do not define the relevant event for entitlement to commission. In this case, the subsidiary solution adopted by lawmaker is relevant. Different countries adopted different solutions in term of their needs although there is a one solution which is more popular. However, the option for event which will entitle broker to his remuneration does not resolve all of questions arising from broker´s right to remuneration, such as, will broker lose his right to commission if the one who celebrated the contract with his client is not the one he met but the relative of this person? If the person who promoted conclusion of transaction between his client and a third party is not a licensed broker, should he be entitled to commission? These are questions that will be discussed in this thesis.

Issue date

2016

Author

Ho, Chong In

Faculty

Faculty of Law

Degree

LL.M.

Subject

Real estate agents -- Macau

Real estate business -- Law and legislation -- Macau

International Business Law -- Faculty of Law

Supervisor

Mo, Shijian

Files In This Item

Full-text (internet)

Location
1/F Zone C
Library URL
991001157829706306