Significant changes are affecting the real estate brokerage sector in Greece, bringing new obligations for brokers and changes to the practices of the sector.
Let's see the main changes:
1. Law 4809/2021:
Introduction of a Real Estate Registry: Mandatory registration of all properties for sale or rent.
Increased transparency: Information on properties, owners, certificates, prices, etc.
Consumer protection: Prohibition of misleading advertisements, clear terms and conditions.
2. Broker Certification:
Mandatory acquisition of a Certificate of Professional Competence: Examinations for brokers and employees.
Improved professionalism: Ensuring knowledge and skills, compliance with ethics.
Increased reliability: Strengthening trust in real estate transactions.
3. Code of Ethics:
Ethical and Professional Conduct: Establishment of rules for ethical and professional behavior.
Client Protection: Prohibition of conflicts of interest, transparency in fees.
Ensuring Fair Competition: Unfair practices and deception are prohibited.
4. Digitization:
Adoption of Digital Tools: Electronic submission of documents, digital signatures.
Simplification of Procedures: Reduction of bureaucracy, faster transactions.
Improved Service: Access to information and services online.
Impacts:
Changes in Real Estate Practices: Adaptation to new regulations, adoption of digital tools.
Cost Increase: Compliance with new requirements, bureaucratic procedures.
Increased Transparency: Increased market confidence, consumer protection.
Conclusion: The new laws and regulations in the real estate sector bring changes and challenges, but also improvements for the benefit of consumers. Adaptation to the new requirements is necessary for successful real estate brokerage in the future.
Advice: Stay informed about the new regulations and consult a lawyer or accountant for any questions.
