A new law will require real estate agents, brokers and consultants to hold a license.
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,” the press release read.
Licenses are valid for five years and will be renewed if the licencee meets the criteria required by the board.
The law comes into effect after months of meeting with stakeholders, including the FIAU and MCAST, together with a public consultation process.
The news was announced by Parliamentary Secretary for Lands and Construction Chris Agius during a press conference.
Agius said that he is convinced that this law will bring more transparency and more peace of mind for everyone who interacts with the sector.