Real estate agents, brokers and consultants to be licenced by law

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Tista' taqra bil- Malti.

In the coming days, a law will come into force providing for the issuance of a license for real estate agents, real estate brokers and real estate consultants, Parliamentary Secretary for Lands and Construction Chris Agius announced.

The law will require any person who is involved as an intermediary in the sale of the property to be licensed, except for those who do not carry out more than two transactions per year.

Every person who will be working as a property agent, property consultant, branch manager and property broker must have a certificate showing that they have attended a course at an accredited institution with at least 12 or 8 ECTS at level 4.

Each licence shall be valid for 5 years and maybe renewed if the licencee meets the criteria required by the Board.

Parliamentary Secretary Chris Agius said that it was after months of meetings with the main stakeholders in the sector, the FIAU and even MCAST, together with a public consultation process, that Parliament approved this law. Agius also stated that he is convinced this law will bring more transparency and more peace of mind for everyone who interacts with the sector.