ABINI confirms that its 33 member companies are already registered in the Official Register of Real Estate Agents of the Balearic Islands.

La Asociación Balear de Inmobiliarias Nacionales e Internacionales (ABINI) anuncia con satisfacción que sus 33 socios han completado exitosamente su inscripción en el Registro Oficial de Agentes Inmobiliarios de Baleares. Este registro era una de las principales reivindicaciones de ABINI y una de las razones de su fundación en 2020. Desde entonces, la asociación y otros representantes del sector han insistido ante los distintos gobiernos de Baleares en la necesidad de contar con un registro oficial de agentes inmobiliarios, con el fin de mejorar la transparencia y seguridad del sector. Esta demanda se ha materializado finalmente a través de la Ley 3/2024, de 3 de mayo, de medidas urgentes en materia de vivienda, que en sus disposiciones adicionales decimotercera y decimocuarta regula la creación del Registro Oficial de Agentes Inmobiliarios de las Illes Balears, así como los requisitos necesarios para ejercer esta actividad.

According to Hans Lenz, president of ABINI, “this registry represents a crucial step forward for the professionalization of the real estate sector in the Balearic Islands. Our association was founded with this very goal in mind: to ensure that real estate agents meet the necessary standards to protect consumers and raise the professionalism of the services provided.”

Registration in the registry is mandatory for real estate agents operating in the Balearic Islands and ensures that all affiliated companies meet the professional and ethical requirements set by the regulations. This quality seal benefits both buyers and sellers by providing them with the peace of mind of knowing that they are dealing with properly accredited agents. Additionally, the registration number must be visible in all communications and offices of the agents, providing clients with an extra guarantee of professionalism and security.

The deadline for extraordinary registration in the Balearic Islands has ended.

The extraordinary registration deadline, open for six months since the publication of Law 3/2024 on Urgent Housing Measures, ended on November 9th. All real estate agents are required to publish and make visible their registration number in the Official Register of Real Estate Agents of the Balearic Islands (ROAIIB) on their offices, website, advertising, and professional assignments. Real estate agents must also include the details of their Civil Liability and Surety Insurance policies in the professional contracts signed with clients.

Illegal Practice, Unauthorized Practice, or Unfair Competition

Operating as a real estate agent in the Balearic Islands without presenting the registration number is considered clandestine activity, illegal practice, unauthorized practice, or unfair competition. Failure to fully or partially comply with the obligations or requirements established to practice as a real estate agent is considered a serious offense under Law 5/2018, of June 19, on Housing in the Balearic Islands. The penalties for those who violate the Balearic law in this regard range from €3,001 to €30,000, and real estate agents may face temporary suspension of their registration due to disqualification.

Advantages of Registration in the Official Register

For real estate market users, the registry provides a framework of trust that ensures agents meet legal standards and are qualified to advise on the complexities of buying, selling, and renting properties in the Balearic Islands. This system also protects buyers and sellers from potential fraudulent practices, offering transparency in a sector that is crucial to the economy of the islands. It is a fundamental step in organizing and providing legal security for one of the most important decisions in people’s lives: their home.

ABINI’s Commitment to Transparency

ABINI celebrates the implementation of this measure as a milestone in the professionalization of the sector and thanks the excellent collaboration throughout the process from the Balearic Government, the Real Estate Agents Association, and other sector representatives.