New Registry of Real Estate Agents of the Valencian Community.

A new regulation has emerged in the Valencian Community that will really mean a before and after in the exercise of real estate brokerage activity.

This new law requires a greater knowledge of the profession and the activity, as well as a greater degree of commitment and responsibility on the part of all real estate agents in the Valencian Community.

Currently the exercise of the real estate agent profession in Spain is not regulated, as in other countries such as France, Belgium, Germany, Holland, USA, etc. This has been one of the questions that foreign buyers who come to Spain in search of a property have always asked themselves, and who are surprised that in Spain there is no regulation of the profession of real estate agent, and controlled by the State, through some form of training, certification, or registration.

In several communities such as Andalucía, Canarias, Madrid, Murcia, there are certain registries in which professionals dedicated to real estate brokerage must be registered in order to exercise their

profession and its activity.

As a result of this, the Valencian Community has proceeded to create a registry of Real Estate Agents, in order to regulate, control and supervise the activity.

This registration obligation tries to establish a series of guarantees, obligations and requirements that the agents must respect, as if it were any other type of professional, who are obliged to comply with these guarantees and regulations in their professional activity.

Obviously, this registration is going to mean a great change in the Valencian real estate sector. On the one hand, it will mean the consolidation of all those real estate agencies that are well-established in the territory, that act with honesty, seriousness and solidity in the Spanish market, and with extensive experience in the sector, and will leave out all those that act in the market. property in the area in an eventual or unserious way, and who are not prepared for the professional, diligent and effective development of such an important activity for the national/international legal system as the purchase and sale of real estate.

This regulation will mean an improvement in the guarantees of the service for consumers and users.

Decree 98/22.

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