The requirement for a license in rental listings is an important practice that increases transparency in the real estate sector and facilitates access to accurate listings with the new regulation.
In recent years, the rapid digitalization in the real estate sector has made our lives easier through listing platforms, while also bringing some problems along. Fake listings, unauthorized real estate activities, and consumer grievances have made regulations in this area inevitable. At this point, a new regulation introduced by the Ministry of Commerce draws attention: the requirement of a license for rental property listings.
A license is a certificate that officially documents a real estate business's authority to conduct property trading. This document aims to increase the reliability of the information on listing platforms and to prevent unregistered activities in the sector. From now on, rental property listings can only be published by property owners, their first-degree relatives, or authorized real estate businesses.
This regulation will come into full effect on January 1, 2025. Even individual users wishing to post listings will have to complete the authorization process through e-Government. In other words, it will not be possible to enter listings unauthorized from this date onwards.
The Electronic Listing Verification System (EIVS), which forms the backbone of the new regulation, was developed to ensure the accuracy and reliability of property listings. With this system, each listing will be verified by the owner of the relevant property or an authorized real estate business. Thus, the aim is to prevent fake listings.
With EIVS, the listing process will become more transparent. Property owners will authorize a specific real estate business through e-Government, and this authorization will be valid for at least 3 months. Additionally, it will also be possible to authorize multiple real estate businesses for a single property.
This regulation offers significant advantages for both consumers and real estate businesses:
The requirement for a license was implemented through a transition process between September 15, 2024, and December 31, 2024. During this period, listings could be posted without authorization verification on listing platforms. However, as of January 1, 2025, this practice will be fully implemented, and businesses without a license will no longer be able to enter listings.
The requirement for a license for rental listings is an important step towards making the real estate sector more organized and reliable. Consumers will now be safer against fake listings. Real estate businesses must quickly adapt to this new era and obtain their licenses to continue their activities legally.
