When dealing with a property agent in Shanghai, is it important to verify that they are a licensed agent?
Yes. It is extremely important to ensure that your agent is licensed. Many people have found that they have dealt with "agents" who hold no license, and who are just looking to make quick money by introducing properties. The dangers in using these "agents" is that they offer you no assistance nor protection should a problem arise after you have signed a lease, such as a landlord refusing to return to you your security deposit at the end of your lease. A licensed company however, has not only a moral and legal responsibility to ensure that the services they offer are of a high standard, thereby protecting their clients interests, but they also have legal backing to represent you. Additionally, it unlikely that an unlicensed agent will have any real experience with the property market in Shanghai, and therefore advice given by them may turn out to be incorrect. To avoid engaging the services of an unlicensed agent demand that you are present in their offices when they actually stamp the lease. Most unlicensed 'agents' pay a licensed Chinese agent a fee to stamp documents on their behalf as only licensed agencies can get an official stamp for stamping documentation. Do not accept this, as the 'agent' and landlord will both have their money and you are the most likely one to lose should some problem arise.
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