Mandatory certification and electronic registry for real estate agents. A draft law was registered in Parliament
Real estate agents could be required to obtain professional certification to operate legally, according to a bill filed by PAS deputies. The initiative aims to regulate this field and increase transparency in real estate transactions through a series of measures designed to protect clients from potential abuses.
Under the draft law, the certificate of professional competence will be issued by accredited educational institutions designated to organize professional training programs in real estate brokerage. The real estate agent will have to undergo initial professional training of at least 30 study credits and professional training of at least 10 study credits every 4 years.
The draft also provides for the creation of a State Electronic Register of Real Estate Agents, in which only those who have obtained the necessary authorization will be registered. Citizens will verify whether an agent is certified or not. Agents will also be required to conclude written contracts with clients, specifying the details of the transaction, the commissions charged and the obligations of the parties.
Another element of the draft is the establishment of an electronic register of real estate transactions.
"Every real estate transaction brokered by a real estate agent is to be included in this register. The agent will have to enter data referring to the approximate location of the property, its surface area, price, commission charged by the agent, etc. We plan to make this register of transactions publicly available in a certain form (without publishing personal data). We want to do this to increase the transparency of these transactions, so that potential buyers are informed and the risk of paying exaggerated commissions is reduced," explained PAS MP Radu Marian.
PAS deputies argue that the new rules will contribute to the elimination of non-transparent practices in the real estate sector and will ensure fair competition in the sector, while providing more security for customers.
