The relevant bill, will be voted on the second and final reading at the parliamentary session on Friday, March 20.
According to the draft, every real estate agent will be obliged to undergo initial and continuous professional training in an accredited educational institution. He will be obliged to conclude written contracts with clients, provide complete and accurate information about real estate, including risks and costs, as well as to comply with the norms of personal data protection. Unfair commercial practices such as hidden commissions or false advertising will not be tolerated.
The project takes into account the experience of European countries such as Sweden, Ireland, Latvia and Denmark, where the activities of real estate agents are strictly regulated. Latvia, for example, has a public register and mandatory certification with annual reporting on transactions.
The authors of the draft law emphasize that today intermediary activity in Moldova can be carried out without professional training, which reduces the quality of services and creates risks for buyers and sellers.
Earlier, MP Radu Marian, one of the authors of the draft law on the activity of real estate agents, said that the Register of real estate prices is planned to be created within a maximum of one and a half years. Work on its creation is already underway.
