Do Independent Real Estate Brokerage Business Individuals Need Any Diplomas or Certificates?
Is Real Estate Brokerage Considered Real Estate Business?
Seeking advice on whether real estate brokerage is considered real estate business. What is real estate brokerage? What is real estate business?
Response:
According to Clauses 1 and 2, Article 3 of the Real Estate Business Law 2014:
Real estate business involves the investment of capital to conduct activities such as construction, purchase, and acquisition for sale, transfer; leasing, sub-leasing, lease-purchasing real estate; providing real estate brokerage services; real estate trading floor services; real estate consultancy or real estate management services for profit purposes.
Real estate brokerage is the act of acting as an intermediary for parties in the purchase, transfer, lease, sub-lease, lease-purchase of real estate.
Based on the above definitions, it can be seen that providing real estate brokerage services for profit purposes is considered real estate business.
Do Independent Real Estate Brokerage Entrepreneurs Need Any Certificates or Diplomas?
Do independent real estate brokerage entrepreneurs need any certificates or diplomas? I want to run this service but am not clear about the regulations. Please provide assistance according to the law.
Response:
According to Article 62 of the Real Estate Business Law 2014, the conditions for organizations and individuals engaging in real estate brokerage services are prescribed as follows:
- Organizations and individuals providing real estate brokerage services must establish an enterprise and have at least 02 persons with real estate brokerage practice certificates, except in cases specified in Clause 2 of this Article.
- Individuals have the right to independently provide real estate brokerage services but must have a real estate brokerage practice certificate and register to pay taxes according to the tax laws.
- Organizations and individuals providing real estate brokerage services must not simultaneously be both the broker and a party executing the contract in a real estate transaction.
Thus, in your case, you are entitled to independently provide real estate brokerage services but must have a real estate brokerage practice certificate and register to pay taxes according to the tax laws.
Additionally, we inform you that individuals are granted a real estate brokerage practice certificate when they meet the following conditions:
- Full civil act capacity;
- A high school diploma or higher;
- Have passed the real estate brokerage knowledge examination.
A real estate brokerage practice certificate is valid for 05 years.
Can a Person Who Has Been Imprisoned Be Granted a Real Estate Brokerage Practice Certificate?
Can a person who has been imprisoned be granted a real estate brokerage practice certificate? I have been released from prison and my criminal record has been expunged.
Response:
According to Clause 1 Article 68 of the Real Estate Business Law 2014, individuals are granted a real estate brokerage practice certificate when they meet the following three conditions:
- Full civil act capacity;
- A high school diploma or higher;
- Have passed the real estate brokerage knowledge examination.
If you have been imprisoned but now have your criminal record expunged and meet the above conditions, you will still be granted a real estate brokerage practice certificate complying with the law.
Best regards!
