New regulation on real estate trade in Turkey

The “Regulation of the Ministry of Commerce amending the Regulation on Real Estate Trade” was published in the Official Gazette.

Minister Pekcan gave information about the change in regulations and the system to be set up in his written statement.

Explaining that the regulation for the real estate sector was drawn up taking into account the opinions and input of representatives of the sector and relevant parties, Pekcan said, “We want to improve the quality of service in real estate activities, eliminate unfair competition and prevent informality.”

Pekcan stated that they want to ensure that real estate activities are conducted fairly, in a simple, fast and safe environment, and that the sector operates healthier by becoming more skilled.

2 MILLION 400 THOUSAND PROPERTIES WERE SOLD LAST YEAR

Pekcan found that there were approximately 2 million 400,000 home sales in the past year and the registered economic value of those sales was approximately TL 390 billion.

“Fifty percent of real estate sales in our country are through real estate companies, and there are more than 60,000 companies engaged in real estate activities. However, it is estimated that this number acts as an intermediary in buying and leasing real estate due to unregistered activity. And we do create a registered real estate sector and eliminate unfair competition by following the sector closely. “

THE DOORS OF THE REGISTERED AND QUALIFIED PROPERTY OPEN

Pekcan stated that the transition period for real estate companies currently operating to obtain permit certificates ended on August 31

, 2020, stating that they cannot engage in real estate activities without a license and that administrative penalties will be imposed on those who do without Operate permit.

Pekcan stated that even if more than one real estate company previously operated in the same workplace, only one of them had been issued a permit certificate, pointing out that from now on, separate permit certificates will be issued for all companies operating in the same workplace .

In this way, both the business and the contractual business relationship of net data to be accessed in this area is documented, which is documented by all actors in both sectors, emphasizes Pekcan, since in the example of countries that develop the real estate market who have real estate business in Turkey trained, have the required skills and work experience people reported that it is done.

Pekcan noted the following:

“In order to open a new real estate business, from now on at least 100 hours of training in real estate trading and at least 12 months or 6 months of real estate consulting must be completed after graduation. People who do not have at least 100 hours of professional training and have no professional experience Real estate company owners and agents are required to work with Level 5 properties and insured real estate company employees with a Level 4 Certificate of Qualification, which will greatly improve the quality of the workforce in the industry and will enable consumers to receive better quality services.

SERVICE CHARGE LIMIT WILL BE EFFECTIVELY CHECKED

Pekcan stated that in 2018 the service fee cap was set as 4 percent for brokerage sales and purchases and as a monthly rental fee for leasing brokers. Pekcan said real estate companies have been charging service fees above these limits for the past 2 years by pretending to provide additional services to citizens and this situation is strictly permissible. stressed that it will not be.

Pekcan said, “The upper limit of the service fee, which is 4 percent for brokering and selling real estate, and the upper limit of the service fee, which is a monthly rental fee for leasing, will be effectively examined and administrative penalties will be imposed on real estate agents who Collect service fees above these limits from our citizens, as well as approval from companies that insist on this practice. ” Documents are being canceled, “he said.

Minister Pekcan said that in this way it would help improve the quality of service and prevent consumer victimization, and that companies that do not operate in accordance with the law would be removed from the sector.

“No more misleading ads for the consumer”

Pekcan pointed out that this is the first time a real estate advertising regulation has been enacted, stating that “companies that do not have an authorization certificate cannot join advertising sites.”

Clarifying that it is mandatory to include the Authorization Certificate number in all advertisements and use the company name or title in the Authorization Certificate, Pekcan stated the following:

“In real estate advertising, consumers are not given misleading information, such as incomplete or incorrect information about the property or incorrectly marking the location of the property on the map. On the other hand, the Ministry will impose fines on companies that fail to comply with these obligations. It will not be able to make non-owner companies members, it will effectively complete the inquiries and complaints regarding the announcements and provide all necessary information regarding the announcements and memberships to the ministry. Thanks to the regulations, unfair competition and complaints will be avoided the consumer is prevented by unauthorized and misleading advertising, and commercial activities without authorization are followed up and penalized by the ministry. “

“By increasing the digitization in processes relating to authorization documents, the bureaucracy is reduced.”

Pekcan said that they had gone to great lengths to reduce bureaucracy in trade-related processes, as in all previously issued regulations, and that the bureaucratic processes involved in issuing and renewing vehicle registration certificates had been reduced.

Pekcan said, “While both the municipalities and provincial offices have carried out two separate workplace inspections, from now on the inspection will only be carried out by the municipalities before the license is issued,” said Pekcan.

Pekcan noted that all transactions related to the Certificate of Approval are processed through the Real Estate Trade Information System (TTBS), which can be accessed through the Ministry’s website. “Our provincial offices will complete the applications quickly thanks to the integration we have provided with the existing electronic systems of all relevant institutions.” It will make the fundamentals of the real estate sector easier, faster, safer and more transparent, “he said.

The framework of services subject to immovable trade is drawn

Pekcan noted that the regulation established the framework for the services that can be provided with the property buying, selling and leasing services. The most popular topics in the sector are the title deeds for deeds and cadastres, directorates for tax offices, municipalities and other institutions as well as information from these institutions. He also noted that the requirement for the submission of documents had been met with the provision added to the regulation.

Based on newsbeezer

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