November 9 is the deadline for the registration of real-estate professionals in Mallorca and the Balearics. The regulations for the sector, long demanded, have been introduced by the Balearic government's housing ministry. The hope is that this registration will put an end to bad practices that have existed for years. And the requirements are such that the process should prove to be successful.
Putting an end to real-estate cowboys in Mallorca
The register will finally give exact figures for who is operating in the sector
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I bet it won't stop them inflating the prices of properties.
This is excellent news. There are hundreds of self proclaimed "estate agents" on Mallorca; I speak from personal experience with many of them while searching for a house. I was actually shocked by the number of foreign women who worked from home, posing as agents for rental properties. They would scan the internet property sites, contact the owner, and convince the owner they could quickly rent out the property for them. Not one of these "agents even had a business card! They were Dutch, Argentine, Uruguayan, Ukrainian, etc, no real estate training, yet taking a one month rental fee. Biggest scam in Mallorca.
I can tell you through personal experience that the College of Real Estate Agents may help an offended party persecute and prosecute a non registered agent, but will do their damnest to stick up and protect one of their mates, especially if the offended party is a foreigner.