How to be a Registered Real Estate Agent in Turkey
The period for real estate businesses and consultants to obtain a Vocational Qualification Certificate has expired. The deadline for applying was set as March 31, 2021.
“Ministry warned about April 1: Now everybody will not be able to rent or sell a house!” In the report of Yeni Şafak Newspaper, “While approximately 26,000 real estate businesses receive authorization certificates within the scope of the regulation, those who do not apply until the said date are not able to become real estate agents as of April 1. A complaint hotline has been established within the Ministry of Commerce to report unauthorized real estate agents. The Financial Crimes Investigation Board under the Ministry of Treasury and Finance also stepped in before the new implementation. It started sending e-mails to real estate agents to fulfill their obligations.” lines were included. Here is the full text of the news in Yeni Şafak:
The conditions that businesses operating in the real estate sector must meet were determined by the Regulation on Real Estate Trade published on June 5, 2018. A license of authorization was imposed for those dealing with real estate trading and leasing. The date determined for implementing the application includes many regulations such as high school graduation and internship for those engaged in the real estate business. The m² requirement for offices was finally extended until March 31, 2021.
It Ended On March 31
Businesses that did not apply for an authorization certificate until March 31 started to not benefit from the acquired rights (conditions such as graduation, m2 in the office, etc. are not required for those registered in this business before June 5, 2018).
Tax and chamber registered real estate agents, who did not apply, had to fulfill all of the conditions such as internship, being insured, professional experience course, professional competence certificate, high school graduation after this date. A new era has begun in real estate advertisements.
There Were 26 Thousand Applications!
There are an estimated 50,000 registered real estate agents across Turkey. In addition to this number, it is known that the number of people doing the real estate business informally is very high. While it is known that the period granted for the authorization certificate expired on March 31, it is noted that the number of enterprises that received an authorization certificate within the scope of the regulation is around 26 thousand.
Making Transactions in The Title Deed & Entering Advertisements
Within the scope of the regulation, while real estate agents who do not have a certificate of authorization are banned from processing in the title deed, these people are prevented from entering advertisements on the internet sites without a document. If a real estate advertisement is entered on the internet portals as the owner, a power of attorney or title deed is required from the person entering the ad.
Nizamettin Aşa, the President of the Istanbul Chamber of Realtors, who gave information to yenisafak.com regarding the new period that started on April 1, stated that a notification line was established within the Ministry of Commerce and that as of the said date, the ministry officials, municipalities and relevant chambers will start inspections by going to the field. He underlined that businesses that do not have a certificate could no longer do this job.
Trade Minister Pekcan said, “Real estate can not be done without a certificate of authorization; businesses that do not have a certificate will not be able to become a member of the announcement sites.”
Drawing attention to the fact that MASAK is also active for those who do real estate business without a certificate of authorization, Aşa also informed about a significant development on the subject.
MASAK Is Active
From the Financial Crimes Investigation Board under the Ministry of Treasury and Finance, a circular titled ‘Businesses Conducting Commercial Activities Without Authorization Certificate’ came to the Confederation of Turkish Tradesmen and Craftsmen. With this circular, it was requested to report real estate agents without documentation after 31 March. Aşa drew attention to the warnings that an investigation might be conducted against the people in question within the scope of the fight against money laundering and terrorist financing.