Fasteignasali

Fasteignasali is a professional in Iceland who mediates the sale, purchase or rental of real estate. Employed by real estate agencies, they can represent either the seller or the buyer and provide clients with market information, guidance, and coordination throughout the transaction.

Typical duties include preparing a property valuation, conducting a market analysis, creating a marketing plan, listing the property, arranging viewings, handling offers, and negotiating terms. They also coordinate the transaction with lawyers or notaries, banks, surveyors, and inspectors, and help prepare or review contracts and disclosures. A core obligation is to provide accurate information about a property and to disclose known defects or risks, while avoiding conflicts of interest and maintaining client confidentiality.

Regulation and ethics: Real estate agents operate under national laws governing real estate transactions and consumer protection. Many agents are licensed or registered and may be members of professional bodies that establish ethical standards and continuing education requirements.

Fees and market context: commissions or fees are negotiated in the broker's agreement and are typically paid by the seller, though arrangements vary. The fee covers services such as valuation, marketing, negotiations, and administrative tasks. The role of the fasteignasali is to facilitate a smooth transaction and ensure compliance with applicable laws and timelines.