Attention those posting real estate ads on social media: They will be brought under regulation

Hacı Ali Taylan, President of the Turkish Real Estate Consultants Federation, announced that with the verified listing regulation, not only real estate portals but also real estate advertisements published on social media platforms will be subject to inspection.

Taylan provided an assessment regarding the details of the Ministry of Trade's "verified listing" regulation.

Pointing out that there are some misunderstandings in the public regarding the content of the verified listing regulation, Taylan said, "There is a false perception that real estate listings will only be provided through the electronic listing system. The new practice does not mean this. The regulation is fundamentally a study concerning listings published on the internet that can cause certain manipulations."

Emphasizing that the new practice will also help combat unregistered real estate agents, Taylan stated that, apart from property owners and their first-degree relatives, only real estate consultants who have received an authorization certificate from the Ministry of Trade will now be able to post listings on real estate portals.

Taylan stated that there are 69 thousand licensed real estate agents in Turkey and continued as follows:

"There are also approximately 20 thousand real estate agents working without a license. The Ministry had also made a regulation regarding the authorization certificate. There was a mandatory internship requirement to obtain the certificate in question. A one-time internship exemption has been introduced, provided that an application is made by the end of the year. By the end of the year, we expect there to be nearly 90 thousand registered real estate agents in Turkey."

Therefore, real estate agents we call 'unlicensed' will no longer be in the market. Because they will not be able to post listings on publishing platforms without an authorization certificate. I don't know if the regulation will completely prevent informality, but the important thing is to minimize it."

Pointing out that with the spread of social media platforms, listings can now be published not only on real estate portals but also through various other channels, Taylan stated the following:

"The Ministry will also inspect these platforms and prevent the posting of illegal real estate listings. Every listing will be required to be served as verified. Thus, listings that victimize consumers and cause manipulation will be completely eliminated."

On the other hand, the regulation included a provision regarding the public disclosure of island and parcel information on real estate portals. We conveyed to the authorities that this situation could cause certain grievances for those operating in the sector. They stated that they would work on the matter."