"Bestellerprinzip"
Would you like to find out about the “Bestellerprinzip” and what you need to bear in mind when taking on an estate agent’s commission?
We at BAMBERGER IMMOBILIEN clarify for you the most important questions surrounding the new legal regulation and explain why it still makes sense to hire an estate agent against this background.
What exactly is the "Bestellerprinzip"?
The “Bestellerprinzip” is expected to come into force in Austria in spring 2023 and can be briefly summarised with the words “He who orders, pays”. Accordingly, the assumption of the broker’s commission for rentals will be newly regulated by law.
The consequence of this is that in future the person who places the order will have to pay the brokerage fee.
Since in most cases the clients are the landlords, they are obliged to pay the commission, although in exceptional cases it is also possible for the tenants to pay it.
For which types of real estate and marketing does it apply?
The “Bestellerprinzip” applies to the brokerage of rental properties and requires that the tenants are private individuals. An exception exists for companies that, as employers, are looking for a rental property for their employees and engage an estate agent for this purpose. In this case, the “Bestellerprinzip” does not apply, since it is a so-called brokerage to a tradesman and the person seeking is a tenant but not a private person.
What should you keep in mind?
According to the “Bestellerprinzip”, the agent’s commission is generally three gross monthly rents, plus VAT. However, what many landlords do not know: The costs for an estate agent are usually tax-deductible, so financial concerns do not play a role even despite the change in the law.
Why does it make sense to hire an estate agent for the purchase or sale despite the "Bestellerprinzip"?
The introduction of the buyer’s principle is fundamentally intended to ensure more social justice so that average earners also have the chance to use estate agent services. What is intended as a laudable approach poses challenges for landlords: For if they shy away from hiring an estate agent because of the expected costs, all marketing tasks have to be done on their own without expertise. This in turn means not only a considerable investment of time, but also costly additional expenditure in terms of listing, travel and management fees. In addition, there is a risk that tenants who are unable to pay will be accepted due to an inadequate credit check, which means that landlords have to reckon with rent losses. It is therefore highly recommended that a trustworthy real estate agent such as BAMBERGER IMMOBILIEN is commissioned with the marketing so that landlords do not make any mistakes.
Do you have further questions about the buyer principle or would you like in-depth advice from our experienced team?
We at BAMBERGER IMMOBILIEN are happy to help you and look forward to hearing from you without obligation.
Our team looks forward to your call at +43 (0) 662 42 34 20. You can also send us an e-mail to office@bamberger-immobilien.at! We are here for you and will be happy to advise you!