Register of Real Estate Agents of the Valencia Community
From Monday the 16 October 2023, all agents must be registered in the Register of Real Estate Agents of the Valencia Community (el Registro de Agentes de Intermediación Inmobiliaria de la Comunidad Valenciana)
All Real Estate Agents operating in the Comunidad Valencia are obliged to meet the legal obligations and had to register before August 2023.
A new regulation in the Valencian Comunidad covering Alicante, Castellón, and Valencia provinces will significantly impact the real estate industry. The law demands higher expertise, commitment, and responsibility from all real estate agents involved in regional transactions. The changes are expected to improve the quality of real estate services provided to clients.
Unlike in other countries like France, Belgium, Germany, Holland, and the USA, Spain’s real estate agent profession has not been regulated for many years. This has led to questions from foreign buyers who come to Spain to look for properties and are shocked to find out that the profession of real estate agent is not regulated or controlled by the State through any kind of training, certification, or registration.
As a result of this, the Valencian Community has proceeded with the creation of a registry of real estate brokers/agents, with the aim of regulating, controlling, and supervising the activity of all those intermediaries in real estate operations and transactions in the Valencia region.
The requirement for registration is not just a simple entry in a registry but rather a set of guarantees, obligations, and conditions that agents must comply with. This includes training and civil liability for any damages caused during their professional activities. This is similar to the requirements for other professionals, such as doctors, lawyers, architects, and economists.
The implementation of this registration will impact the Valencian real estate sector. It will benefit well-established agencies with solid experience and honest practices, but it will exclude those who act unprofessionally and are unprepared for the important responsibility of facilitating property transactions.
This new legislation establishes fines for those not registered in the registry or failing to comply with any of the obligations imposed by the regulations when exercising their profession.
Serious offences will result in a fine ranging from 10,000€ to 350,000€. Meanwhile, infractions categorised as very serious will result in a fine from 350,00€ up to 950,000€
The new regulation aims to improve the quality of service and greater protection for clients.
The Consell published two decrees. The first Decree 85/2022 approves the Regulation for the Mobilisation of Empty and Disabled Homes. The second one, Decree 98/2022, is the most important as it regulates the Registry of Real Estate Brokerage Agents of the Valencian Community. This decree specifies the requirements for registration.
Fine & Country Costa Blanca North are now officially a fully licensed Real Estate agent – registered under the new obligatory legislation requiring Real Estate Agents to register in the Comunidad Valencia. We are also a proud member of APIAL – Asociacion de Agentes de la propiedad inmobiliaria y agentes inmobiliarios de la provincia de Alicante – which requires all its members to have the required qualifications, civil responsibility insurance, at least 5 years’ experience within the sector, be registered correctly in the tax and social security systems and to have a clean criminal record. Being part of APIAL is a real estate agent’s option and includes commitments to training, experience, and an extensive code of ethics.
Being legally registered in the Comunidad Valenciana and being a member of the APIAL gives prospective buyers and sellers maximum guarantees about our operation and qualification and includes obligations in training, experience, and an extensive ethical code.
Get in touch with Fine & Country Costa Blanca North
E: costablancanorth@fineandcountry.com
W: Fine & Country Costa Blanca North
T: +34 966 67 57 68 (Office)
M: +34 683 38 47 50 (WhatsApp)