The Conselleria de Mobilitat i Habitatge has concluded the drafting of the draft decree that will regulate the requirements to exercise the activity of real estate agent and create the Register of Real Estate Agents of the Balearic Islands. This new regulation is now in the public information phase and the term of allegations will be approved at the beginning of 2023.

This was explained by Minister Josep Marí during the meeting held with representatives of associations and organisations from the real estate sector. Marí stressed that this new regulation will improve transparency in the sector and guarantee consumer protection through the provision of quality real estate services. In this way, it will try to prevent intrusion in the sector, illegal supply and unfair competition that is affecting many real estate agencies, agents and consumers in the Balearic Islands. This new decree aims to promote good practices in the commercial activity of this sector.

The decree aims to regulate real estate activity, as well as highlighting the requirements that agents will have to meet in order to carry out their activity.

Natàlia Bueno, president of the “Col-legi d’Agents de la Propietat Immobiliària” (COAPI) who was present at this meeting, applauded this new decree after many years of irregularities. According to his declarations for Mallorca Caprice “It was one of COAPI’s objectives since the year 2000. Until that date the sector was regularised… we have been working and claiming this for the benefit of the consumer and the prestige of the profession, because it has been totally discredited in this country since that year due to the fact that any individual could become an intermediary”. The COAPI president also stated that “when this decree is in force, the aim is that all consumers will be protected and that agents will act under the same code of ethics that will serve as a guarantee for the consumer”.

The meeting was also attended by Hans Lenz, president of “ABINI”; Antoni Jaume, president of “CAFBAL”, and Mila González, president of the “Associació d’Immobiliàries d’Eivissa” (PIMEEF).

Some requirements included in the new decree regulating real estate activity

Although the drafting of the decree is still in its first phase, it is worth highlighting some of the requirements that are already on the table:

  • The obligation to take out civil liability insurance (on the part of real estate agents).
  • The obligation to present a declaration of responsibility at the start of the activity in which the fulfilment of the requirements established by the current regulations to carry out the activity is stated.
  • Creation of an official register of real estate agents with a badge that accredits their activity. In this way, it will be possible to guarantee and respect the obligations of the agents towards consumers.

Decreto regulación actividad inmobiliaria