We often hear about “real estate agents” in the Turkish real estate market. Is it just a property seller, or does their role go beyond that?.
What services do real estate agents offer to those interested in property ownership in Turkey for residence, investment, or obtaining Turkish citizenship?.
Why has the role of the real estate agent become essential?
Real Estate Mediation in Turkey:
· Real estate mediation guides investors toward their objectives, imparting real estate expertise, knowledge of Turkish laws, taxes, costs, and the realities of the Turkish real estate market.
· Real estate mediation in Turkey encompasses various property types and areas, including residential, commercial, hotel, tourist, industrial, and service properties.
Real Estate Mediation Law in Turkey:
· The Real Estate Mediation Law was enacted in 2019, introducing new procedures regarding the practice of real estate mediation and the requirements for obtaining.
· a license from the Turkish Professional Licensing Authority. Real estate agents are required to have at least a high school diploma.
· conduct their real estate mediation activities within an office environment meeting specific criteria, such as a minimum office space of 40 square meters.
· Online real estate agents also require the same certification and licenses.
Who is the Real Estate Agent?
· A real estate agent is an individual who holds an official license from the authorities to facilitate property transactions in Turkey between all parties.
· They receive a predetermined commission agreed upon by the party that has engaged them, typically obtained from the construction company or seller.
Services of the Real Estate Agent in Turkey:
· Facilitating property transactions between clients.
· Assisting property owners in managing their properties after purchase, including leasing or resale.
· Documenting contracts, handling legal matters, and property management.
· Managing financial matters, including monthly rent collection and utility payments.
Real Estate Mediation Business License in Turkey:
The real estate mediation business license in Turkey is granted by the Turkish Real Estate Financing Authority and falls under two levels:
· Level Four, granted to individuals referred to as real estate consultants.
· Level Five, granted to property owners who work as real estate agents, involved in buying and selling.
Obtaining a real estate mediation license in Turkey requires passing an examination administered by private companies authorized to conduct these exams.
The examination is typically in Turkish, but foreign applicants can use translators. It consists of written and oral components and can be easily passed.
with sufficient experience in real estate consulting.
Real Estate Mediation Fees in Turkey:
· Real estate agents receive a commission ranging from 1% to 2% of the purchase contract value. For example, if the property value is $100,000.
· the commission would be $1,000 from the seller and $1,000 from the buyer. However, in Turkey, it’s customary for the construction company (seller) to cover the full commission.
· and the buyer doesn’t typically incur any fees for the services provided by the Turkish real estate agent.
The Golden Group for Consultations in Turkey aims to serve as a real estate investment roadmap in Turkey, guiding investors toward achieving their objectives.
whether for residence, investment, Turkish citizenship, and enjoying its benefits.