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The European Commission to end abuses in real estate agencies

Luni, 30 iulie 2007, 0:00

Real estate agencies will be forced by the European Commission to professionalize their services. According to analyst Radu Zilisteanu, quoted by the NewsIn news agency on Monday, the measure will lead to the disappearance of some 6,000 out of 10,000 real estate agencies in Romania as it imposes requirements for more specialized courses for agents.

Once the European standard is imposed, the market will be cleared of real estate agents by 60%.

The reglementation is proposed in a project supported by both the European Commission and the European Real Estate Confederation and is due to pass this year.

The project contains clearly identified requirements an individual needs to comply with in order to practice the job.

According to Zilisteanu, a real estate agent will be able to work in the field abroad due to the standardization imposed.

A Representative of the EuroMetrolopola real estate agency, Monica Marin welcomes the measure, adding that it will affect the market qualitatively.

George Dimitriu, PYF real estate agency director talks about loyalty problems on the market. He is quoted by NewsIn as saying that the real estate agent’s legal status is still unclear.

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