Warning from the Ministry: Penalties for unlicensed real estate agents

The Ministry, recalling the regulation introduced last year, stated that properties featured in listings on real estate buying and selling platforms must belong to the member placing the ad or their relatives. In this context, it was emphasized that an authorization certificate must be obtained.

Noting that the professional experience requirement will not be sought for authorization certificate applications made until the end of 2024, the ministry announced that real estate businesses currently operating without an authorization certificate should take advantage of this regulation and obtain their certificates urgently to avoid issues when posting ads and to prevent exposure to penal sanctions.

FINES TO PREVENT PRICE INFLATION

According to the Ministry's regulation, in order to prevent speculation and fake listings in online real estate advertisements, it is required to verify that the properties listed belong to the person placing the ad, their first or second-degree relatives, or their spouse. Furthermore, it must be verified that the advertiser has been authorized by the property owner before the listing is published. Listing sites that do not comply with this regulation can be fined up to 100 thousand liras for each violation.

REGULATION FOR UNAUTHORIZED OPERATORS

The regulation, introduced to register real estate agents and websites operating without authorization, allows real estate businesses engaged in housing trade to obtain an authorization certificate without the professional experience requirement, provided they meet all other conditions. This regulation aims to prevent malicious individuals from organizing price inflation and speculative price increases.

In conclusion, it was announced that penal sanctions will be applied to real estate buying and selling platforms and businesses that do not comply with the authorization certificate requirement, and that necessary steps will be taken to ensure order in the sector.