Real Estate Law Comes Up

According to some estimates, the number of real estate agents in Turkey, which is expressed in tens of thousands, which envisages the determination of the principles and procedures regarding the activities, supervision and responsibilities of licensed real estate consultancy, licensed real estate consultancy companies and licensed real estate commissioners came to the Parliamentary Presidency on 22 January 2015. The fact that the legislature was on the agenda of the government strengthened the expectations of the legal regime to come out this year. According to some estimates, if the law proposal is legal, it will affect the sector deeply. It is inevitable that thousands of real estate agents will be out of the sector, while the protection of the acquired rights in the draft is foreseen. Because being a "consultant" is a requirement to be a university graduate. An alternative bill was also prepared. Important organizations in the sector are making model proposals. One of them is the British model.

Education is a Condition

Especially, the increase in the sales rates of the growing housing sector and foreigners increased the expectation of regulation in the sector. Registered employees complain about indifference. There's a reaction to those who make a case real estate agent. Especially the door operators are an important problem in the sector. The real estate sector is currently subject to a 2004 communiqué, which only requires education. Only 10-15 thousand people in Istanbul are real estate agents registered in the Chamber of Realtors and Chamber of Commerce.