New regulations for Real Estate Agencies!

Not everybody will be allowed to become a Real Estate Agent. According to the "Draft of Real Estate Regulation" prepared by the Ministry, not everyone will be able to become a real estate agent.

By the regularization prepared about adoptation of real estate trade, whoever wants to become a real estate agent need to obtain a certificate of authority from provincial directorate of the Ministry.


High School Graduation is mandatory to have a certificate

Realtors will receive training certificate of professional competence, but those who have an associate degree in property management will be exempted.

Criminal record will be reviewed

The criminal record of the real estate agents must also be clean. They must not been convicted of crimes against the constitutional order, theft, forgery, fraudulent bankruptcy, terrorism financing and smuggling.

Mortgage and Foreclosure Status will be specified on conventions

In order to provide services related to the real estate trade, a written service contract with the owner of the real property will be signed. It will include all the details about the property whether or not there are restrictions on the mortgage and foreclosure.

Obligation of Ethical Behavior

Real estate businesses will not be able to operate outside real estate trade. On the business sign and documents shall not include any statement other than those that define the occupation.

Agencies will be auditable

The Ministry will be able to inspect real estate agents for problems and complaints that arise when implementing the regulation.

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