In Moldova, the activities of realtors and real estate agents are regulated.
This is provided for by the bill, which was presented by members of parliament from the Action and Solidarity Party (PAS) Radu Marian and Marina Morozova at a press conference on Thursday. Radu Marian noted the complaints of many citizens about high prices for apartments, inflated commissions, opacity and unprofessionalism of some real estate agents. To address these gaps, a number of legislative changes have been prepared. Thus, it is proposed to introduce an authorization procedure for real estate agents - they will have to undergo several training courses to confirm their professional status. An electronic state register of real estate agents will also be created, in which all professional realtors will be registered. The register will be available to all citizens. In addition, it is proposed to oblige real estate agents to provide services solely on the basis of an agreement, which should include some important information: the nature of the services provided, the amount of fees/commissions, the rights and obligations of the parties, etc. This is necessary because verbal agreements and promises do not always work. The amendments also provide that real estate agents will issue a payment order/confirmation for all payments received from clients. In addition, it is planned to create an electronic register of real estate transactions - all transactions will be registered there. This will allow to track every transaction carried out through the mediation of a real estate agent. The realtor will be required to enter data related to the approximate location of the building, its area, price, commission charged by the agent, etc. This register is also planned to be made available to everyone, with restrictions on personal data. This will increase the transparency of all real estate transactions so that potential buyers are informed and there is no risk of being scammed with inflated commissions. There will also be a procedure for revoking a realtor’s license and applying sanctions against him. Radu Marian noted that citizens who sell or buy real estate must have all the information about the condition of the property, the commission that the realtor applies and understand the degree of reliability of the agent. More order and transparency will also lead to fairer competition in the sector. Recall that earlier extensive consultations were held on this bill with representatives of all interested parties.// 20.06.2024 — InfoMarket.
