A Comparative and Maltese law view on real estate agents

Abstract

The frequency of real estate transactions is on the increase. This can be concluded by virtue of published statistics. These indicate that in the first quarter of year 2016 real estate resulted in a 24.7% increase. Real estate in Malta is currently enjoying a boom period fuelled by means of the increasing number of foreign and local investors seeking better investment returns or relocating. Upon general observation, it appears that regulation on estate agency has not been improved to reflect or protect this increased activity. With regards to the European Union, no specific legislation has been issued to date that directly addresses estate agents and agencies as a whole. Therefore, this research project is mainly directed at analysing how the activities of estate agents are regulated. A total of 15 out of the 28 EU Member States regulate the profession of real estate agents, with each having their own methods in regulating their business. This research project will cover a total of 4 EU Member States. The United Kingdom, France, Italy and Germany will be those analysed in detail. Upon reading this research project, the reader will familiarise oneself with how the Maltese legislator regulates the broker and estate agents, whilst at the same time understanding how they are regulated in other European Union Member States.