Legal tip 413. Future regulations for Estate Agents in Spain
Tuesday, December 21, 2010 @ 10:53 AM
I am sure many regions will follow Barcelona´s regulations on this, which are in force since February 2010.
The Professional Association of Real Estate Experts, with over 1000 real estate mediation professionals in Spain and a network of more than 2,000 small and medium real estate agencies has begun a round of contacts with the Housing authorities of regional governments.
The aim is to promote each region ( autonomous community) to create a mandatory public register of real estate agents, as the one which has been recently implanted in Cataluña, which is in operation since last February and guarantee, thus, good citizen service and dignify the professional figure of the real estate agent.
Cataluña is the pioneer region for introducing a regulation, which includes the registration of real estate agents to regulate the activity of professionals and agencies for real estate mediation, counseling and management in trading, rent or swap.
In this sense, the requirements in Catalonia for estate agents to enroll in the registry and perform the profession coincide with the conditions that the Professional Association of Real Estate Experts imposes on its members to join the APEI. So the professionals:
1) Should have an establishment open to public
2) Need to prove enough training
3) Have a civil liability insurance covering damage or loss that may result during the year, for a minimum capital of 600,000 euros per year, and a guarantee of 60,000 euros to secure the paid amounts.
Zahara Road near Grazalema at Facebook by María Dolores Naranjo Carrasco