After several years of discussions on the regulation of the industry, a professional register will be launched

After several years of discussions on the regulation of the industry through the mediation of real estate transactions, the National Real Estate Association has launched a professional register, the association announced.

The inclusion in the register is voluntary and it is open to absolutely all agencies and professionals in the industry, the organization said in a statement sent to the media.

The register will be able to enter any real estate agency and its brokers and agents who accept the rules of the International Coalition for Ethical Standards (IESC) - liability, confidentiality, avoidance of conflicts of interest, financial responsibility, good faith, legality, coverage, standard of service, transparency, trust. Each agency will be able to present to users its experience, mission, vision and business model. Every broker and agent will be able to declare their education, professional qualifications, specializations, certificates, etc.

The professional register allows clients - sellers, buyers, landlords, tenants - to choose both an agency and a specific broker or agent to trust in the implementation of their desired property transaction.

Like any economic sphere, the real estate business needs clear rules and transparency. The professional register will significantly contribute to their establishment and validation, according to the organization.

The real estate industry has been having heated discussions about regulation for years in order to overcome the problems with fraud and incorrect and unqualified brokers, recruiting clients for profit. There was talk of two options - self-regulation through a professional chamber and / or a law to regulate the requirements for agencies and brokers.