Mandatory Authorization Certificate in Rental Listings: Transparency in the Real Estate Sector with New Regulation
In recent years, the rapid digitalization of the real estate sector has brought convenience through listing platforms but has also introduced challenges. Fake listings, unauthorized real estate activities, and consumer grievances have made regulations in this field inevitable. At this point, a new regulation introduced by the Ministry of Trade has gained attention: the requirement of an authorization certificate for rental property listings.
What Is an Authorization Certificate and Why Is It Important?
An authorization certificate is a document that officially certifies a real estate business’s right to engage in property transactions. This certificate aims to enhance the reliability of the information on listing platforms and 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 need to complete the authorization process through the e-Government system. As of this date, it will no longer be possible to post listings without proper authorization.
What Is the Electronic Listing Verification System (EİDS)?
The backbone of the new regulation, the Electronic Listing Verification System (EİDS), has been developed to ensure the accuracy and reliability of property listings. Through this system, every listing will be verified by the property owner or an authorized real estate business, effectively targeting the elimination of fake listings.
With EİDS, the listing process will become more transparent. Property owners will authorize a specific real estate business via the e-Government platform, and this authorization will be valid for at least three months. Additionally, it will be possible to grant authorization to multiple real estate businesses for the same property.
Benefits for Consumers and Real Estate Businesses
This regulation offers significant advantages for both consumers and real estate businesses:
- Reliability for Consumers: Fake listings and misinformation will be prevented, allowing consumers to work with trustworthy real estate businesses.
- Professionalism for Real Estate Businesses: The mandatory authorization certificate will enhance professionalism in the sector and reduce unregistered activities.
- Market Transparency: Every listing will go through an official verification process, ensuring transparency throughout the sector.
Transition Period and Current Status
The mandatory authorization certificate was implemented with a transition period between September 15, 2024, and December 31, 2024. During this period, it was still possible to post listings without authorization verification. However, starting January 1, 2025, the system will be fully operational, and businesses without an authorization certificate will no longer be able to post listings.
The mandatory authorization certificate for rental listings marks an essential step toward making the real estate sector more organized and reliable. Consumers will be better protected against fake listings, and real estate businesses must quickly adapt to this new era by obtaining their certificates and continuing their activities on a legal basis.
Do you think this regulation will achieve the expected level of reliability in the real estate sector? Share your thoughts in the comments!