Update on current trends in Real Estate

Crystal Property

SPAIN are delighted to be able to update you on current trends and legislation in Real Estate, please visit our website on www.crystalproperty.es for more information.

In your home country an Estate Agent is typically qualified, has liability insurance, professional indemnity coverage and client specific bank accounts ­ all to protect you. In Spain all you need is a business card, and some agents don’t even have that! Which I guess, explains why Estate Agency (quite rightly so), has such a bad reputation in Spain.

Decree, 98/2022, of July 29, comes into force on

August 16, 2023, passing legislation with the aim of regulating, guaranteeing, controlling, and supervising the activity of real estate, with the aim of improvement service and consumer protection.

For Agents, it requires greater knowledge of the profession. It is not simply an entry in a registry, but establishes a series of guarantees, obligations and requirements that Agents must respect, both in training and indemnities for damages caused, just as other professionals such as doctors or notaries, are required to comply with in their professions.

You must not use an Estate or letting Agent who cannot prove registration after August 16, as you have NO protection.

This registration is going to mean a great change for some, it will not affect agencies that are well established, act honestly and professionally. However, it will seri­