New website launched for real estate agents to register for their licence

Within one year’s time, people who work in the property sector such as real estate agents, property brokers and consultants will be required to have a license. The preparations for this are underway including the launch of a website where they can register for a licence, which includes those who still do not have the required qualifications.

Those who work in this sector will have to access the website to register for the licence which will be obligatory as from the beginning of next year.

The Parliamentary Secretary for Construction, Chris Aguis, said that two and half years ago the fifth EU directive was published to fight against money laundering, with agents who work in the rental and sale of property identified as one of the sectors which needs to be regulated.

Since last summer, courses in this industry started to be held at MCAST which is offering training for property agents in order for them to obtain their licence.

“When a person is buying property they are making possibly the largest investment in their lives and therefore it is important that whoever is giving them advice to purchase a property is doing so according to law, as well as according to the best interests  of who is asking for advice. It was therefore very important for this sector to be regularised.”

Mr Agius said that the law, which came into effect last summer, was drafted following a series of discussions. Applications for the licence need to be made by the end of March of this year on the website, realestateregistration.gov.mt.