On September 15, the Turkish Ministry of Trade introduced the "Verified Advertisement Regulation," marking a new era in real estate advertising. Only licensed real estate agents will now be able to place advertisements.
On September 15, the second phase of the Elektronik İlan Doğrulama Sistemi (EIDS) created by the ministry will come into effect, introducing the requirement to verify real estate agents on advertising platforms related to property sales.
Real estate law expert Ali Güvenç Kiraz explained the main details for Hurriyet:
What the new real estate advertising rules aim to prevent:
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Fake property advertisements by intermediaries, price manipulation.
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Fraudulent properties and the collection of advance deposits for their purchase through fake advertising campaigns.
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Real estate consultants are legally required to have a certification under the Real Estate Trade Regulation. However, third parties without this certification have been illegally profiting by providing brokerage services through real estate portals.
Requirements for Real Estate Agents
For a real estate agent to be included in the EIDS system, they must have an authorization certificate fr om the Provincial Directorate of Commerce in the province wh ere they operate, in accordance with the Real Estate Trade Regulation. What agents need for this:
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Have a registration and activity certificate fr om a professional chamber.
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Be a payer of income or corporate tax.
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Be over 18 years old.
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Be at least a primary school graduate.
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Not be bankrupt or have restored their reputation after bankruptcy.
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Not have been previously sentenced to five years or more for intentional crimes, not have committed dishonorable crimes, crimes against the state, or have a trade ban.
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Complete 100 hours of training by the Ministry of National Education, universities, or authorized institutions and organizations (MEB).
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Graduates of secondary, bachelor's, and postgraduate programs must have worked in the real estate field for six months. Others must work in this field for 12 months before applying for an authorization certificate.
Real estate consultants must work with an authorization certificate. However, for the EIDS system, it is necessary not only to have the authorization certificate but also to sign an authorization agreement under the Real Estate Trade Regulation between the property owner and the licensed real estate consultant.
A property owner cannot simply indicate in the system the real estate consultants from whom they received the authorization certificate number. The authorization agreement must be signed with all relevant licensed real estate consultants.
All real estate agents at Stay Property hold licenses according to the requirements, have undergone the necessary training, and regularly participate in additional training programs. Our specialists are always happy to help you choose a property, and all of them are professionals with many years of experience.
How Many Real Estate Agents Can Advertise a Property
During meetings with the ministry, sector representatives stated that the system allows a maximum of five real estate agents for authorization. However, citizens who approve the work of five certified real estate consultants in the system should be aware that they may face the risk of paying more than one commission fee for the property in deals and offers they receive from these five consultants, or may need to cover the costs of services provided by these consultants. To claim a commission, the service must be completed. However, the law states that real estate consultants can receive fees for the work they perform.
Do the New Regulations Apply to Rentals?
As with sales advertisements, those who want to rent out their property and those who want to place their advertisement on digital platforms must be authorized within the EIDS system.
However, there are exceptions. Properties exempt from the EIDS system, both in sales and rental advertisements, include:
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Housing projects without floor servitudes.
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Daily rental advertisements.
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TOKI and Emlak Konut developer projects.
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Slums and properties without title deeds.
Can Property Owners Post Ads Without Real Estate Agencies?
Citizens are not required to work with a real estate agent to sell or rent their property. They can place advertisements on real estate portals for the sale or rental of their property. A person can place these advertisements on real estate portals on behalf of themselves, their spouse, or their relatives up to the second degree (children, siblings, grandchildren, grandparents).
The authorization for advertising by an authorized real estate agent in the system will be valid for at least three months. However, no clear information has been provided on the upper time lim it.
The actions of a real estate consultant who has not signed an Authorization Agreement and does not have an Authorization Certificate under the Real Estate Trade Regulation, as well as the actions of a homeowner acting contrary to this system, will be considered a violation of the Electronic Commerce Regulation Law and will be punished with an administrative fine ranging from 10,000 to 158,460 Turkish lira. They will also be subject to penalties under Article 18 of the Retail Trade Law.
These new regulations are a significant step in combating price manipulation. Significant progress will be made in tax auditing and transparency, both for rentals and sales. The EIDS system will also eventually be introduced into the automotive trade.
Minister of Trade Ömer Bolat stated, "After the implementation of the electronic advertising verification system, advertisements will be closely monitored by our ministry."
Trust the important matter of choosing real estate in Turkey to a reliable company. Our agents at Stay Property will be happy to answer your questions.