Parliamentary Secretary for Lands and Construction, Chris Agius, announced that 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.
He said that after months of meetings with the main stakeholders in the sector, the FIAU and even MCAST, together with a public consultation process, Parliament approved this law.
The law will require any person who is involved as an intermediary in the sale of 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 five years and may be renewed if the licensee meets the criteria required by the Board. The Parliamentary Secretary said that he is convinced that this law will bring more transparency and more peace of mind for everyone who interacts with the sector.