job descriptions
The three trades grouped together under the collective term “real estate trustee” – real estate agent, real estate manager and housing developer – are regulated trades, the practice of which is linked to a certificate of qualification and which may only be practiced once the competent authority has issued a permit. Section 117 of the Austrian Trade Act (=§ 117 der österreichischen Gewerbeordnung) regulates the trades of real estate trustees as follows:
Real estate agent
The real estate agent's job is to match supply and demand. In order to work optimally for the benefit of all customers and the economy, comprehensive professional training is required: In addition to the basic concepts of civil law and commercial law, the real estate agent must have special knowledge of the land register law, the zoning and development regulations, the design and compliance with the legal framework (Purchase/sale, rent/letting, lease, building rights and usufruct justification). In addition, the real estate agent must have special knowledge of the valuation of real estate and have extensive knowledge of the market.
The field of activity of the real estate agent includes:
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- The brokerage of the purchase, sale and exchange of undeveloped and developed land and rights to real estate, including the brokerage of rights of use to real estate and the brokerage of the purchase, sale and exchange of apartments, business premises, prefabricated houses and companies
- The brokerage of inventory contracts for real estate
- Dealing in real estate, including hire purchase (including the construction of buildings for subsequent sale)
- Brokering investments in real estate funds
- Advice and support for the above transactions
- Brokerage of mortgage loans
Real estate manager
The primary task of the real estate manager is the trustee and best possible management of the real estate assets entrusted to him. The real estate manager has special powers of representation before courts and authorities in his area, it is up to the individual company to define and offer its individual scope of services. In order to optimally cover the customer's wishes, the real estate manager is entitled to call in other professional groups, such as lawyers, architects or other authorized specialists.
The area of activity of the real estate manager includes:
- The management of developed and undeveloped properties, the care for their maintenance, repair, improvement and renovation
- Collecting money and making payments
- Tax advice and preparation of submissions to the tax authorities for house and apartment owners
- Administrative activities for individual co-owners of a property, insofar as this does not result in a conflict of interest
- Carrying out simple repair and touch-up work
Housing developer
The performance profile of the developer is determined by the type of construction project and is usually agreed individually.
The area of activity of the developer includes:
- The organizational and administrative handling of construction projects on one's own account or on behalf of others, as well as the renovation that is equivalent to a new building in terms of construction costs
- Representation of clients before administrative authorities, funds, funding bodies, public corporations and in court (if there is no obligation to use a lawyer)
In addition, he can set up so-called form contracts, but he is not authorized to set up contracts in the broadest sense.
In order to assess whether a real estate trustee may carry out certain activities, the reserved activities of other professional groups such as lawyers, notaries and chartered accountants must be taken into account.