Israel: Real estate brokerage reform goes into effect
Tel Aviv [Israel], March 10 (ANI/TPS): On Sunday, the reform in the field of real estate brokerage led by the Ministry of Justice went into effect, which for the first time establishes binding ethical regulations for real estate brokerages, and regulates key areas of the broker's work towards the public and his conduct as a licensee on behalf of the Ministry of Justice.
Ministry of Justice data, collected as part of the work of the Reform Promotion Headquarters, showed that over 30 per cent of respondents who used brokerage services claimed that the brokers did not act fairly with them and even provided incorrect information about the conference. 56 per cent of the respondents who claimed that the broker did not act fairly with them were apartment tenants, and 38 per cent of the respondents were buyers.
In addition, as part of the work of the headquarters, an international comparative study was conducted, public meetings and roundtables were held with brokers, consumers and stakeholders, and complaints received by the Registrar of Brokers were examined, from which it was possible to learn what issues require regulation in legislation. (ANI/TPS)
(The story has come from a syndicated feed and has not been edited by the Tribune Staff.)
