|Mutual recognition of qualifications
Since the signing of the Closer Economic Partnership Arrangement between the Mainland and the HKSAR Government in 2003, the EAA has been in dialog with Mainland authorities on a scheme for the mutual recognition of the professional qualifications of estate agents in Hong Kong and in the Mainland (the Scheme). On 3 November 2010, an agreement was entered into between the EAA and Mainland’s national regulatory body, the China Institute of Real Estate Appraisers and Agents, to give effect to the Scheme.
The following steps are involved under the Scheme:
Details of the Scheme for Hong Kong estate agents
- selection of candidates;
- nomination and exchange of list of candidates;
- holding of a training course to bridge the possible knowledge gap arising from the difference in legal systems and practices;
- administration of an examination; and
- granting of the required qualification.
Details of the Scheme for Mainland estate agents
The first session of nomination was completed in 2011. As the Mainland authorities are reviewing the qualifying examination arrangement for the estate agency profession, there is no update on the mutual recognition scheme at the moment. Meanwhile, the EAA will explore with nearby Mainland cities for the ways to obtain local qualifications there and, after the abovementioned review has been finalized, provide the relevant information to licensees for reference.
Consumers should note that, while the Scheme aims at promoting the exchange of talents and cooperation between professionals in the real estate agency sector, licensees under the Scheme do not necessarily provide "better" services than other licensees not having participated in the Scheme. Consumers should continue to exercise caution in buying properties located outside Hong Kong.
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