Certification of the Profession of Real Estate Broker

For years, the Albanian State has encountered major problems in the real estate sector, as it is one of the most affected mechanisms by money laundering activity. The stratospheric increase of prices in the market of sales and purchases of apartments, especially in Tirana, testifies to this fact.

Based on the legislative initiative of the Council of Ministers, the draft law “On the profession of real estate broker” has been submitted to the Assembly of Albania. This draft law aims to protect and guarantee the exercise of the profession of real estate broker, as a free and regulated profession in fulfillment of the purpose of mediation of legal actions, transfer of ownership of real estate, or real rights over in accordance by applicable law.

The introduction of legislation on the certification of real estate brokers makes it possible to establish a legal framework in advancing the fight against money laundering and terrorist financing.

The real estate broker is a physical person certified by the Ministry of Justice as the responsible state authority and registered in the Real Estate Broker Register, to mediate the conclusion of an agreement for the realization of the legal action of the transfer of ownership of the real estate or of the real rights over them. The certificate is given to the broker within 60 days from the date of submission of the necessary documentation.

The criteria needed for certification as a real estate broker are:

  • Have the full legal capacity to act;
  • To have complete upper secondary education, according to the legislation in force for the pre-university education system in the Republic of Albania;
  • Not to be under investigation or trial for criminal offenses in the field of money laundering, terrorist financing, or weapons of mass destruction;
  • Not to have been convicted by a final court decision for a criminal offense committed intentionally, for which he has not been rehabilitated;
  • Not to have been sentenced with an administrative fine or administrative measure that obliges the subject to stop a certain behavior, work practice, or business, as well as not to repeat it in the future, for violation of the legislation in force for the prevention of money laundering, at least not earlier than 6 (six) months from the date of submission of the request;
  • Have completed the mandatory training program for candidates for real estate brokers.

The right to exercise the profession of real estate broker in the Republic of Albania is available for Albanian or foreign citizen, who is provided with the license of real estate broker in a member state of the European Union, according to the rules of that member state and has signed a cooperation contract with a real estate broker/intermediation office in the Republic of Albania and has signed a cooperation contract with a real estate intermediation office in the Republic of Albania.

Foreign citizens in addition to meeting the above criteria must prove proficiency in the Albanian language through a document issued by the competent authorities.

Regarding the procedure of the broker’s activity, he enters into the contract for mediation of legal actions with real estate through which the broker undertakes, according to the client’s requests, to assist in the realization of the requested legal action, against the payment of the respective fee.

To have legal validity, the contract is made in writing, defining its essential conditions. If this contract is concluded without a definite duration it will be considered as concluded for 6 months. 

For further information, find below the draftlaw on the “Profession of the real estate broker”