Registration will be voluntary and professionals must prove their professional training. On February 13, a communiqué was published confirming that the Government Council has approved the decree creating the Real Estate Registry of the Community of Madrid. The main purpose of this registry is to defend and protect the rights ...

Madrid creates the Registry of Real Estate Agents

The registration will be voluntary and the professionals must prove their professional training.

On February 13 a statement was published confirming that The Government Council has approved the decree creating the Real Estate Registry of the Community of Madrid.

This registry has as main objective to defend and protect the rights of consumers they hire real estate professionals, favoring quality and guarantees in the provision of a service that entails large outlays for citizens.

Since 2000, it was not necessary to have a specific higher degree, a level of degree medium, a specific physical address or liability insurance civil servant to practice as real estate agent (API). That is why the Api graduates have denounced the irruption in the sector of intermediaries without professionalism and measures have been taken to create this registry.

The registration of the agents will be voluntary and will favor transparency in the sector. Consumers can check the register through the website of the Community of Madrid.

These are some of the requirements that the agent must meet to formalize the registration:

-Tener a real estate establishment open to the public in the Community of Madrid or provide this service electronically.

-Acredit professional training to carry out the activity.

- Current professional liability insurance € 100,000 per claim and € 600,000 per year.

-Requirement of solvency, as a guarantee for a minimum amount of € 60,000 per establishment open to the public and year of coverage.

inscription will have a validity of five renewable years for periods of equal duration, and may be canceled in the event that the inaccuracy, falsification or omission of an essential nature is found in the information provided to appear on it.

VIEW COMMUNICATION

Banks continue to reduce their real estate portfolio thanks to foreign investors. Unicaja Banco has informed the CNMV (National Securities Market Commission) of the transfer of 75% of two holding companies of real estate assets to the Norwegian firm Axactor, which translates into a total of more than 4,000 properties. Of …...

The functions described in the previous postcards (1) about the role of the intermediary in real estate distribution are not the only ones. There are some other aspects of intermediation work that should be noted as part of the value of the intermediary relies on them. See the first: The existence of the intermediary makes more ......

The so-called Cookies Policy has been established in the European Union and is mandatory. Practically in almost all web pages that we visit we can find the message of this policy, which can be accepted, rejected or blocked. But ... WHAT ARE COOCKIES? According to the official page on Cookies Policy (http://politicadecookies.com/), ......

According to the report "Evolution of credit to productive activities in Spain by activity sectors", published by AIS Group (specialist consultant in credit risk management), the portfolio of loans to companies engaged in real estate activities fell more than 10,800 million euros between 2016 and 2017. This fall in credit to this segment means ......