Version 7 of the Handbook was published on 1 April 2013. For more information, please click "History" above.
When providing property selling services, you must:
ensure that you, or any employees through whom the work is carried out, are competent to do so, and meet any standards of competence set by the Secretary of State under section 22 of the Estate Agents Act 1979;
not seek from any buyer a pre-contract deposit in excess of any limit prescribed by the Secretary of State under section 19 of the Estate Agents Act 1979; and
if you receive from any buyer a pre-contract deposit which exceeds the prescribed limit, so much of that deposit as exceeds the prescribed limit shall be either repaid to the buyer or paid to such other person as the buyer may direct.
The requirements of rule 3 are in addition to the requirements in the SRA Code of Conduct in Chapter 1 in respect of client care.