Broker and commissioner are terms that are frequently used interchangeably in the real estate industry. KBBI defines a broker as a trade intermediary as someone who, in the absence of a formal professional relationship, finds buyers or sells items on behalf of others. A commissioner, on the other hand, participates in the transaction by getting paid a commission for the sale and purchase agreement, as specified under Article 62 KUHD of the Commercial Law.
The responsibility requirement for the transaction, however, is where the two differ significantly. How can one stay clear of land broker issues while being aware of the legal ramifications? This essay will address it by citing the parts of trade law that are expressly governed by the legislation as well as Article 62 of the KUHD, which offers advice on how to reduce risks while transacting in real estate and securities.
Broker
What does a broker do? The Big Indonesian Dictionary (KBBI) defines a broker as an intermediary who manages a situation for others and financial gain. A broker's job is to act as a middleman or agent in business transactions, including buying and selling, leasing, and other agreements, as well as selling items. Brokers typically are paid fees or commissions for their services. Stockbrokers, insurance brokers, and real estate brokers are a few examples.
A broker's primary function is to act as a middleman in commercial transactions. whereas the range of responsibilities of an intermediary or broker includes locating buyers and connecting vendors and buyers for specific transactions.
Commissioner
A commissioner is a person who is permitted to represent another individual or legal entity in a matter and obtain commission money, according to KBBI. With the authority to act on behalf of the authorizer, the commissioner serves as the authorizer's agent or representative.
Although the commissioner's services are primarily focused on representing the power of attorney or carrying out specific tasks on its behalf, the extent of his responsibilities also includes representing the power of attorney's interests in other contexts outside of business dealings.
Pros and Cons of Using a Broker
Using a broker has benefits because of their extensive understanding of particular markets and industries as well as their experience. Second, because they can make the transaction process go more smoothly, brokers are skilled middlemen. Thirdly, you'll save time and effort by choosing a broker service.
There are undoubtedly drawbacks to any advantage. The first drawback of employing a broker service is that there are extra expenses in the form of fees or commissions. Second, the broker's honesty and integrity play a major role in the transaction's success. Third, occasionally you could feel as though you have no influence over the transaction process.
Undoubtedly, a broker has obligations, particularly when purchasing and selling real estate, given that the broker profession is regulated by law and is a legitimate occupation. A broker's primary duty is to assume liability for any potential losses. Second, until the agreement is implemented or fully finished, the broker is required by KUHD article 69 to retain the example.
Thirdly, a broker is required under KUHD article 70 to vouch for the legitimacy of the seller's signature. According to the article, any broker who has agreed to buy and sell bills of exchange or other securities and then turn them over to the buyer is also accountable for ensuring that the seller's signature on the bill of exchange is valid.
In the context of a land sale and purchase transaction, a broker's primary duty is to perform a variety of duties and tasks to facilitate and guarantee a seamless transaction process between the buyer and seller. It is important to remember that the Financial Services Authority (OJK) regulates the duties and actions of brokers and trade intermediaries. Naturally, OJK gets involved to guarantee that the transactions are conducted honestly and transparently.
The decree of the Minister of Trade of the Republic of Indonesia no. 33/M-DAG/PER/8/2008 on Brokerage Companies has set a standardized commission amount for property brokers, including:
There are two types of brokers: certified brokers and unofficial brokers. Certified brokers are those who have official certification from the Minister of Justice and have been regulated through Article 62 of the KUHD. Meanwhile, unofficial brokers are regulated in Article 63 of the KUP 1792 of the Civil Code.
Islamic law states that it is permissible for Muslims to work as brokers (samsarah). According to QS. Yusuf verse 72, a broker's pay is legal since they work in a service industry and are fundamentally in the business of assisting others, hence the legislation is acceptable.
Do a pre-survey regarding the land broker's integrity and repute. To gain a sense of past client experiences, look through internet reviews and other information sources. Alternatively, get referrals from friends or families who have worked with the broker.
A good idea is to verify the legitimacy of documents—like land certificates, which can be verified at the National Land Agency (BPN)—by checking them. If someone asks to meet outside of business hours or on the weekends, do not accept and do not trust them if they say they are employed by BPN.
This contract is essential if you want to stay away from dishonest land brokers. This agreement outlines the specific conditions that must be met by the buyer and seller, as well as how the broker's compensation is split.
That's an insightful summary of what a broker is, and it makes it very evident that a broker is a respectable and lawful profession under the law. In order to complete a property deal successfully, one must not only buy or sell but also cultivate favorable partnerships.
