New legislation for estate agents in Spain from October 2023

It could be the biggest purchase of your life: buying a house abroad. It's exciting, and there's a lot involved. Buying a property in Spain is even more exciting because you are buying in a different language, a different country with different rules ... and we want to talk about the latter. Until recently, anyone could be an estate agent from a small attic room and without any experience. Fortunately, this has now changed. In many parts of Spain, estate agents are required to register, and in order to practice this profession, the agent must fulfill a number of conditions.

Regulation of estate agents in Spain 

What already applied for years in Spain's largest autonomous regions - Andalusia (with the provinces of Málaga, Almeria, Seville and Granada) and Catalonia (with Barcelona and Tarragona) - now also applies to another important region: the Costa Blanca. In the state of Valencia, which includes the provinces of Valencia, Alicante (Costa Blanca) and Castellon, a new law regulating estate agents has been passed. With a registration requirement, this law will regulate the profession of estate agent, for selling and renting in Spain. A great improvement for you as a buyer, because this regulation will always require your estate agent to produce their official registration.

What must an estate agent in Spain comply with?

As of the 2nd week of October 2023, we estate agents have not only the moral but also the legal obligation to advise you as a client safely and professionally when you buy in Spain!

An estate agent who does not have the correct Spanish diplomas, training and requirements is therefore NOT allowed to practice their profession. As a buyer, always ask for the only  registration code recognized for registered estate agents. This always starts with the letters RAICV. In addition, an officially registered estate agent must have a guarantee fund and the statutory professional liability insurance.

All the staff in our office have completed the relevant training and obtained their diplomas, and our MNM Costa Blanca estate agency meets all the conditions laid down by law, meaning it is officially registered with the code RAICV- 2351.

The new regulations also mean that agents from your home country are no longer allowed to sell you Spanish properties on the Costa Blanca - Comunidad Valenciana!

You must buy from a Spanish estate agent with a tax domicile and a branch in Spain.  

How can you check if an estate agent is registered?

From now on, it is compulsory for an estate agent in the Comunidad Valenciana, i.e. on the entire Costa Blanca, to be registered in "el Registro de Agentes de Intermediación Inmobiliaria of the Comunidad Valenciana". This registration must be visible in the office and on the website.