Parliamentary Secretary Chris Agius on Tuesday launched a site for property agents, property brokers and property consultants to be able to register for a licence, and for those who intend to acquire a licence but do not have the necessary qualifications as of yet.
The Real Estate Agents, Property Brokers and Property Consultants Act (Chapter 615 of the laws of Malta) came into force on 7th July 2020 and regulates the licensing of real estate agents, property brokers, property consultants and branch managers in Malta.
Pursuant to the provisions of this act, no person shall carry out the activity of a property broker or real estate agent or be employed or engaged as a branch manager or property consultant after 31st of December 2021, unless he/she is the holder of a licence issued under the Act.
In Tuesday’s press conference, Mr Agius emphasised that all intermediaries who work in the sector but are currently ineligible to apply for the licence are to immediately inform the board of their intention by no later than 31st March 2021.
Applicants are to submit a passport photo, a copy of the ID/Passport, a police conduct issued no later than a month before the application, a statement by a notary or accountant stating their financial position, while a declaration of the intent to sign is to accompany this form.
He stressed the importance of all agents operating in the property sector ensuring that they acquire the necessary qualifications according to the law by the end of this year.
To obtain a licence to act as a property broker, real estate agent or branch manager in Malta, one must fulfil the following conditions:
For property consultants:
Should a person satisfy the conditions listed above, they may not apply or obtain a licence under the Act if they are:
Mr Agius highlighted that those who are already in possession of the necessary qualifications do not need to go through this process and can immediately apply for the licence that will become obligatory as of 1st January 2022.
He specified that only those who act as intermediaries and carry out activities involving acquisition or sale/lease of land on an occasional basis of no more than two transactions per year are exempt to operate without a licence.
Mr Agius concluded by stating this law is certainly a crucial step in harmonising the involvement of persons acting as intermediaries in the process of negotiating and arranging transactions involving the acquisition, sale or rental of land with the clear intention of ensuring that consumers are guaranteed the necessary protection needed.
Applications can be accessed through the site https://realestateregistration.gov.mt.
For further information and clarification, the general public is invited to send an email on [email protected] or call on +356 2331 6349.
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