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What is Real Estate Brokerage?
Real Estate Brokerage: It is the profession in which those in charge seek to help clients looking for investment in real estate, whatever their method of investment is buying or renting, and regardless of their goal: is it for housing, or to invest in real estate by renting it, or with the aim of trading in it through Waiting for its price to increase and then selling it.
In other words: we can answer the question, what is real estate brokerage? It is the link between the owner and the buyer.
Real estate brokerage in Turkey is an important part of the field of work in the real estate sector, as it covers various types and fields of real estate.
Definition of a Real Estate Broker
Real estate broker: It is a person or office authorized to work to facilitate the sale and purchase process between the parties of the real estate process, whether they are individuals, real estate owners, or real estate development companies, in exchange for a specific commission agreed upon that the real estate broker takes from the party that appointed him.
In addition, among the tasks of the real estate broker is that he negotiates the sale agreement procedure, managing the documents, and how to finalize the required transactions
Duties of a Real Estate Broker
The real estate broker seeks to complete sales and rental operations between clients (seller and buyer, or landlord and tenant). The real estate broker also helps the real estate owner to sell his property at the best possible price, while the broker helps the buyer to obtain the lowest available price. He also contributes to the process of leasing commercial real estate. and residential and offers a range of options that suit the aspirations and needs of the tenant.
The real estate broker is entrusted with the tasks related to documenting contracts, completing legal tasks, and property management, including following up on financial matters such as paying rent, electricity and water bills, and others.
Among the most important duties of a real estate broker, we find his aspiration to be responsible for real estate marketing, either through e-marketing platforms, social networking sites, or other marketing methods.
Real Estate Broker License
For the real estate broker to carry out his work in the best way, he must have a real estate broker license from the Real Estate Finance Authority.
We note that the license to practice real estate activity has two levels,
The fourth level: and is granted only to people who practice the real estate consultant profession.
The fifth level: and is granted to the person who owns real estate and performs the real estate advisor profession as a real estate agent who sells or buys.
Regarding the procedures for obtaining a certificate to practice real estate marketing: the organizer of the exam is the Professions Licensing Department, which in turn assigned private companies to carry out the exam, and to help applicants prepare for the exam through a few training hours.
As for the language of the exam, it is in Turkish, but if the applicant is a foreigner, he can get an interpreter, and the exam is conducted in two parts: written and oral in the form of an interview.
We point out that whoever has experience in the real estate field can pass the exam easily.
Real estate Brokerage Law in Turkey
Regarding the real estate mediation law in Turkey, the Turkish government announced in 2019 new procedures related to the real estate mediation system centered on the fact that whoever practices real estate mediation must obtain a certificate and license from the Turkish Professions Licensing Department to practice this profession. Likewise, the real estate broker is required to have a secondary school certificate as a minimum, and the practice of real estate brokerage work must be carried out within an office work environment, and there are special specifications for the office, such as an area of not less than 40 square meters, and even those who will use the Internet as a means of publishing advertisements must They obtain the same certificate and licenses.
Real estate broker commission in Turkish law
On the issue of the real estate broker’s commission in Turkey, there was a prevailing custom that the real estate broker had a commission for his efforts at a rate of 1 to 2% of the property price, paid by the seller and buyer separately; However, currently, according to real estate experts, the client does not provide a commission to the brokers, but the brokerage commissions are paid by the real estate company at a rate of 4%.
