New Regulation in Real Estate Sector

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According to the draft prepared by the Ministry of Customs and Commerce, there are restrictions such as mortgages and foreclosures in the immovables subject to real estate purchase, and the credit availability of the immovable will enter into contracts. According to the proposal of the Ministry, related institutions and organizations, everyone will not be a real estate agent. The regulation, which is prepared with the aim of binding the purchase and sale of real estate, is obliged to obtain the authorization certificate from the provincial directorates of the Ministry.

Citizens will be able to check the current list of real estate agents with the authority document from the Ministry's website. The document, which will last for 5 years, will be posted in a place where the business can be easily seen by everyone. It is compulsory for real estate agents to register for tradesmen or chambers of commerce and to be taxpayers.

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Real estate high school graduation condition

Realtors will receive training and vocational qualification certificates, but those with a bachelor's degree in property management will be exempted from it. To be a real estate agent to fill the age of 18 and at least a high school graduate to be sought.

Real estate shop will be at least 30 square meters

Real estate businesses will carry an independent section and will be at least 30 square meters in size. These include; table, wardrobe, armchair, computer, internet and technical equipment will be put in place there will be enough vehicles.

Mortgage and foreclosures will be written on the contract

A written service contract with the owner of the immovable will be signed for the services related to the real estate trade. In the service contract; interior features such as the number of rooms, shower cabinets, cabinets, parquet, satellite installation, elevator, children, children's rooms, park, parking etc. For Araz, information will be given on whether the products are planted and stitched with the information of shares, precedents and gabari. Whether or not there are restrictions such as mortgages and foreclosures on the immovable, the credit availability of the immovable will be included in the contract. The service price for the realtor will also be put into the contract.

When the real estate business is opened, the authorization document will be checked without opening a business and issuing an operating license. Licenses will not be granted to businesses that do not have a certificate of authority.

According to the transition conditions of the draft, existing real estate operators will have to comply with the regulation requirements by taking the authorization document within 18 months after the regulation is published. While there is an exemption for those who qualify for a high school graduation, those who are under high school education can continue to work.

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