How To Become an Estate Agent in Greece
Sellers and buyers of properties all around the globe sometimes avoid using real estate agents because of the burden of estate agent commissions and fees, especially when a high-value property is involved. However, one cannot underestimate the importance of an estate agent in property contracts. Their contribution to the transaction can save a lot of time spent in negotiations and can serve as mediators in helping both parties reach a compromise.
There are legal provisions for anyone looking to become a real estate agent in Greece. These laws may appear to be strict, and offenders may face disciplinary and criminal sanctions if found wanting. If you think you can’t navigate the legal requirements of becoming a real estate agent in Greece all by yourself, you need the services of a lawyer to help you set up your real estate business. In this article, we have rounded up some tips to becoming a real estate agent in Greece.
Obtain necessary qualifications
In Greece, the real estate agent profession is regulated by law, and all aspiring agents must obtain the necessary licenses and qualifications. There are local and international licenses that you can obtain to give you your desired reach. These qualifications and licenses will allow you to operate as a professional real estate agent.
Understand The Law on Real Estate Agents
As mentioned earlier, laws are guiding the establishment and operation of a real estate agent business in Greece, as well as the rights and obligations of the agent as defined in articles 197 – 204 of Law 4072/2012 (Government Gazette A 86 / 11.04.2012) and 703 – 707 of the Civil Code.
According to the Greek Law 4072/1012, a real estate agent is a company or individual; providing agenting services on real estate. Agent service can be described as an indication of mediation for the execution of contracts or transactions involving real estate – contracts of sale, exchange, leases, rental, or easements. No laws are covering the practice of real estate agents apprentices or trainees.
Follow these conditions for exercising the profession of real estate agent
For the exercise of the profession of a real estate agent, the following conditions must be met by the individual concerned:
- Be a Greek citizen or citizen of a member state of the European Union or a member of the European Economic Area (EEA). A third-country national is required to have a residence and work permit in Greece or a residence permit for independent economic activity.
- Not have been convicted of a felony (a crime punishable in Greece by imprisonment over a period of five years) or of a misdemeanour (a crime punishable in Greece by up to five years in jail time) for offences of theft, embezzlement, fraud, embezzlement in service, forgery or misuse of stamps, infidelity, perjury, fraudulent bankruptcy, loan defaults, usury, issuing a dishonoured check, or for one of the offences relating to currency.
- Not have been subjected to full or partial, privative or auxiliary judicial support (Civil Code 1666-1688).
- Have a high school or a foreign equivalent school diploma.
To learn more about becoming a real estate agent, check out rrcorfurealestate.com.