In recent real estate industry news, the Association of Real Estate Professionals of Ibiza (APIBIZA), a member of  the PIMEEF, presented several proposals for the regulation of the real estate sector in the islands before the Conselleria d’Habitatge i Mobilitat, that is, regulating the requirements to carry out the activity of  real estate agent in the Balearic Islands.

One of the proposals was to establish a sanctioning regime with fines of not less than € 20,000 for those agencies and / or persons without the adequate qualification.

They also argued that demonstrable malpractice should result in immediate expulsion from the registry.

In addition, it has requested to be able to report through simple tools and that real estate agents should be required to have at least university studies related to the sector or training in accredited centers or at least 5 years of proven experience in the sector.

On the other hand, it has requested that the sale and purchase transactions, the registration of real estate agents and the obligation to publish on their websites the real estate agent registration number have to be notarized beforehand.

The Association of Real Estate Professionals of Ibiza has shown its satisfaction for this proposal to regulate the real estate sector of the islands in defense of this highly invaded sector and to protect consumer rights.

Read more on this in an article recently published in the Diario de Ibiza.

Find out more about the APIBIZA click here.

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