Real estate industry regulation moves a step closer to reality

Real estate industry regulation moved a step closer to reality recently, when the Real Estate Agents, Property Brokers and Property Consultants Act 2019 reached its final consultation phase reports Times of Malta.  The Act has been designed to establish a regulatory framework requiring real estate agents, branch managers, property consultants and property brokers to be licensed. It is hoped that it will inspire a sense of greater responsibility among those working as intermediaries between property buyers and sellers. Now that it has reached its final phase of development, the government will finalise all elements of its consultation process and reissue the final Act to Parliament for approval.