Only registered estate agents will remain...
24 May
Only certified and registered real estate agents in the Comunidad Valencia!
As most of you know, anyone can or rather could become a real estate agent, as practising the profession of real estate agent in Spain is not yet regulated like in other countries such as France, Belgium, Germany, the Netherlands, the US, etc...
A lot of foreign buyers searching for a property in Spain are surprised that there is no regulation or control by the government on the real estate agent profession within the Comunidad Valencia.
We want to provide you some further information on the July 2022 decree (DECREET 98/2022) that will really mean a "before and after" in the practice of the activity of real estate agent, intermediary or mediator in real estate transactions in the Comunidad Valencia (Valencia/Alicante/Castellon).
This new law requires more knowledge of the profession and activity as well as a higher level of involvement and responsibility of all real estate agents involved in real estate transactions in the region.
Clearly, this registration will be a big change in the Valencian real estate sector. The register is a consolidation of all registered estate agents operating in the region. In this way, those who practise their profession in a serious, professional and knowledgeable manner will be registered. The others who do not take the real estate profession seriously or do not have the necessary knowledge and responsibility will disappear from the market.
This law will lead to an improvement in service guarantees and quality of service which results in better protection for future home buyers.
Of course, this system also provides the necessary penalties for all those who are not registered, or do not comply with any of the obligations imposed by the regulations for the exercise of their profession.
LIVINatSPAIN is an official brand name of AKUNAS MAGRUM SL and is registered under the number: RAICV0087
What exactly does this law mean:
- Location
Any agent practising the real estate agent profession must have an office/premises accessible to the public. Even those who work only online must have a physical address in the territory of the Comunidad Valenciana. So, foreign real estate agencies will also be required to have a physical address in the territory of the Comunidad Valenciana.
- Training
Every real estate agent on the market will be obliged to present the necessary certificates or degrees required to practice the profession.
- Solvency requirements
The professional or intermediary has to possess: insurances and service guarantees to cover their liability for any damage caused by their work. This through civil liability insurance and an additional insurance to ensure that any deposits received (reservations, deposits,...) during the purchase process are returned to the rightful owner in case of incompetency of the agent.
When is the deadline for registration
Every real estate agent is required to be registered before the end of August 2023.
Penalties for unregistered agents:
The penalties depend on the severity of the offence:
- Severe offences: fine between 10,000€ and 350,000€
- Extremely severe offences: fine between 350,001€ and 950,000€
How to recognise a registered real estate agent
Every real estate agent who is registered will receive a red label indicating their registration number.
Consulting the register:
You can access the register via the following link: https://sforms.gva.es/sformssi...
Note: Each registration must be done with the legal tax name (not the commercial name) of the real estate agency if it is a limited or a corporation, therefore it can be a bit more difficult to find a particular agency.
Are you looking for an estate agent who will work with you to find the right property,
and still be there when you go to the notary.
Do not hesitate to contact us so that you can
discover the excellent service we have to offer you.
If you want more information or if you have any questions about the new law do not hesitate to contact us. This can be by phone or via whatsapp at +34 672 247 386 or by email info@livinatspain.com.
