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Who is a qualified Estate Agent?
The Laws: Real Decreto 3248/1969 Art. 1.° Mediation and
brokerage, in the following transactions, are functions
exclusively reserved to APIs.
a)
Purchase, sale and exchange of both rural and urban
properties.
b) Mortgage finance on both rural and urban properties.
c) Leases of both rural and urban properties; the assignment
and transfer of such.
d) The issuing of reports and expert opinions requested
on the sale, assignment or transfer value of property
referred to in the foregoing three parts.
Penal Code: Ley Orgánica 10/1995, de 23 de
noviembre, del Código Penal de Intrusión.
ART. 403 He who engages in activities relating to any specific
profession, and who lacks the corresponding academic
title issued or recognised in Spain, shall in conformity with
existing legislation, incur a penalty ranging from
six to twelve months in duration. If the activity carried out requires
an official qualification which provides the legal capacity
and skills necessary for such activity and the person
carrying out such activity is not in possession of the
appropriate qualification; then there will be imposed
a sentence of from three to five months.
Furthermore,
if the guilty person publicly holds himself out as being
a professional with the appropriate qualification, a
prison sentence of from six months to two years will
be imposed.
Any other spurious qualifications, or purchased awards,
are just that: spurious. The API qualification can only
be acquired by examination in Madrid. It cannot be purchased
or rented!
People dealing with such unqualified 'agents' could
place themselves and the relevant transaction or contract
at risk.
New Royal Decree:
Royal Decree-Law 4/2000, of June 23, of urgent measures
of liberalization in the real estate sector and transport.
The activities that up to now were reserved exclusively
to members of the Colegio of the Agentes de al Propiedad
Inmobiliaria (APIs) are now open to anyone, without
necessity of having any qualification or being a member
of any Institute.
The Spanish Government has now declared a free-for-all
in the property market!
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