Who is a real estate consultant in Turkey? What is the real estate brokerage business? what are the tasks of Real Estate Consulting? and should I get a license to practice this profession, you will find everything related to real estate consulting and real estate brokerage in the following article.
Real Estate Consultant in Turkey:
A real estate consultant provides property advisory services to individuals interested in property ownership. They facilitate the buying and selling process of Turkish properties between all parties involved. The real estate consultant typically receives a predetermined commission agreed upon by the party they represent. In Turkey, for example, the consultant usually receives their commission from the construction company or the seller.
Real Estate Brokerage in Turkey:
Real estate brokerages aim to assist clients interested in property ownership, investment, or obtaining Turkish citizenship. They guide investors toward their real estate goals by providing them with market knowledge, information, and expertise regarding the Turkish real estate market and relevant laws. Real estate brokerage covers various types of properties, not limited to residential but also commercial, healthcare, educational, and others.
Tasks of a Real Estate Consultant in Turkey:
The tasks of a real estate consultant include providing investors with sufficient information about property ownership, laws, and costs associated with property acquisition. They help clients find the best real estate deals and facilitate the buying and selling process between clients. They also assist property owners in managing their properties after purchase, especially if the purpose is investment, such as rental management or resale to achieve profits aligned with the real estate market conditions. Other responsibilities may include contract documentation, legal tasks, property management, financial matters such as rent collection, and utility payments. Real estate consultants promote their services through dedicated websites, social media platforms, and modern advertising methods.
Licensing for Real Estate Brokerage:
To engage in real estate brokerage in Turkey, a real estate consultant must obtain a license issued by the Real Estate Finance Agency in the country. There are two levels of licensing: Level 4, known as “Real Estate Advisors,” is granted to individuals who meet the license’s requirements, while Level 5 is granted to property owners who work as agent brokers involved in buying and selling. Obtaining a real estate brokerage license involves taking an examination conducted by private companies authorized to organize the exams and provide preparatory courses. The examination is conducted in the Turkish language. Foreign applicants can use an interpreter. The exam includes a written component and an oral interview. Those with experience in the Turkish real estate market find it easier to pass the exam.
Real Estate Brokerage Law in Turkey:
In 2019, the Turkish government introduced new regulations concerning the real estate brokerage system. It mandates that anyone practicing real estate brokerage must hold a certificate and license from the Turkish Professional Licensing Department. The real estate consultant must have at least a secondary school certificate, work within an office environment, and meet specific office space requirements, such as a minimum area of 40 square meters. Online real estate brokers who advertise properties online are also required to obtain the same certificate and licenses.
First Istanbul, through its specialized real estate team, offers comprehensive real estate consultations and advice to individuals interested in property ownership in Turkey, regardless of their purpose. They provide suitable property offers aligned with clients’ preferences and help them achieve their goals of acquiring high-quality properties in vibrant areas within Istanbul and beyond.