The Registry of Real Estate Agents in the Valencian Community

What is the registry of real estate agents and what is its importance in the Valencian Community?

The registration of real estate agents is an active procedure in the Valencian Community, regulated by decree 98/2022. This aims to guarantee transparency in the real estate and housing sector, and ensure the security of home buyers.

This regulation is created so that there is greater administrative control over the quality of the real estate service, requiring registration in a public registry of all those people who are “professionally or business-wise engaged in mediation, advice and management activities in the transaction of property.” .

What advantages does the registration of real estate agents offer for professionals and clients in the Valencian Community?

Transparency and Regulation: The registration of real estate agents is a measure of transparency and regulation in the market.

By registering in the Registry of Real Estate Agents, it allows both professionals and consumers to enjoy a trustworthy environment and feel more secure. Agents commit to complying with certain ethical and professional standards in their work, which provides security and confidence to both buyers. like sellers.

Below are some of the benefits that both parties can enjoy:

Consumer Protection: By registering, real estate agents agree to follow a code of conduct and to act ethically and professionally in their dealings with clients. This provides consumers with greater confidence when working with registered agents.

• Control and supervision: Registration allows the competent authorities to supervise and control the activity of real estate agents, which helps prevent fraudulent or dishonest practices in the market.
• Access to public information: Registries are usually publicly accessible, allowing consumers to verify whether a real estate agent is registered and meets the legal requirements to operate in the Valencian Community.
• Dispute Resolution: Should disputes arise between consumers and real estate agents, the registry can serve as a reference and facilitate dispute resolution more efficiently.
• Credibility and trust: Registration certifies that a real estate agent or company meets the requirements and standards established by the competent authority, which increases credibility with clients.
• Promoting continuing education: Some registries may require real estate agents to participate in continuing education programs, which helps improve their skills and knowledge in the field.
• What are the requirements and procedures to be registered as a real estate agent in the Valencian Community?
• To be registered as a real estate agent in the Valencian Community, the following requirements must be met, divided into three aspects:

Location and care requirements:

Any person who acts as a real estate agent must have an address within the Valencian Community to receive complaints and claims from consumers, regardless of whether they have an establishment.

Professional training requirements:

Natural persons who act as real estate agents must prove their professional training, "Official Title of Real Estate Agent."

Solvency requirements:

In addition to complying with legal and informational requirements, real estate agents must also have guarantees and insurance, which meet certain requirements:

Take out a guarantee with an insurance or financial entity for an amount of 60,000 euros with one year of coverage.

Take out professional civil liability insurance with coverage throughout the territory of the European Union for a minimum amount of 600,000 euros. This is intended to guarantee compliance with responsibilities that arise due to any act of professional negligence.

How can consumers check if a real estate agent is registered before making a transaction?

For consumers to verify if a real estate agent is registered before contacting an agent and making a purchase or sale of a property, they can follow these steps:

Consult the public registry and|or request the certificate of the REGISTRATION RESOLUTION IN THE REGISTRY OF REAL ESTATE INTERMEDIATION AGENTS issued by the Second Vice Presidency and Department of Social Services, Equality and Housing with the agent's registration number.

Once they have the registration number, they will need to verify that it matches the agent. It is important to ensure that the name and information match what the entity has provided to you.

Review the contract: Before signing any contract with a real estate agent, it is advisable to check that the registration number is included in the documentation. This is important to confirm that the agent is registered and complies with all current regulations.

José Luis Nieto Cintero (Holidaydream Homes Costa Blanca)
Agent in Real Estate Brokerage of the Valencian Community
RAICV 1595