An indication of the extent of market intrusion and unfair competition by individuals (and companies) that lack relevant qualifications and can expose clients to risks is that no one can say for sure how many there are.
The president of the College of Real Estate Agents, José Miguel Artieda, estimates that there are around 2,000 real estate agents, but a calculation by the University of the Balearic Islands puts the figure at some 7,000.
The Fundació Impulsa for Balearic competitiveness and productivity reckons that there are around 4,560 people dedicated to real estate activity on the islands and 1,443 registered companies. Artieda notes that the register will give exact figures.
"Natural talent, if not accompanied by knowledge, distorts the profession. A salesperson is confused with a real estate advisor, and that has been the sector's great downfall. From November 9, we will be able to officially report those who operate through intrusion, clandestine activity and unfair competition."
Hans Lenz of Engel & Völkers and president of the ABINI association says: "It is absolutely necessary to create transparency and control." He refers to "minimum requirements" being demanded.
These are: a university degree in social and legal sciences, engineering or architecture; a non-university education of at least 200 teaching hours related to mediation, advisory and management services; or demonstrable experience in the provision of real estate services for a minimum of four years immediately prior to the date of submission of the registration application. There must be an establishment open to the public or at least an accessible postal address as well as a civil liability policy with a minimum capital of 100,000 euros per claim.
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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.