Real Estate Sector Reorganized

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Along with the new regulations, a new era is beginning in the real estate sector. Now, in purchasing and selling transactions, the service fee will be earned in limited proportions. This rate is determined as 3 percent of the sales price. Realtors will not be able to earn more than 3 percent of the sales price in the contract. Customs and Trade Minister Bulent Tüfenkçi, made a written statement about the subject. It is also stated that the Draft Regulation on Immovable Trade, published in the web site of the Ministry, can be arranged in line with the opinions received.


Tüfenkci said that they are planning to establish a criterion to obtain a certificate of qualification for merchants and craftsmen engaged in real estate trade. According to the draft, this authority will be given by the provincial directorates of trade. If the draft is approved, the qualification certificate will be an obligation for those working in the real estate sector.

He also stated that they are trying to remove the differences in contracts which are made between the real estate agents and the clients in the new draft they prepared. If the new regulation is accepted, the real estate agents will use the specific contracts which are arranged by Minister for sales. At this point, it can also prevent that dealing with the property owner without real estate agent’s knowledge. He also emphasized that this regulation, which seems to restrict the real estate agents in many points, is trying to protect the real estate agent.

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