New licence for real estate agents in Malta

 

Soon, all real estate agencies and their consultants will require a licence to operate in Malta. We sat down with Professional Trainer Edward Gatt, who has 19 years of experience in the property industry and has been educating Dhalia’s newcomers.

 

By when will the licence be required?

31st December 2021

 

What are the different types of licence?

There are 4 categories. These are for Real Estate Agents, Property Brokers, Branch Managers and Property Consultants.

 

What is involved to get the licence?

In order to obtain the licence for Real Estate Agents, Property Brokers, and Branch Managers, one has to hold a certificate in real estate (by studying the legal, financial, technical and communication issues related to real estate, its marketing and sale), at a minimum of 12 ECTS at level 4 of the Malta Qualifications Framework attained from a training institution licensed by the National Commission for Further and Higher Education.

A Property Consultant has to hold a certificate in real estate (this involves the legal, financial, technical and communication issues related to real estate, its marketing and sale) at a minimum of 8 ECTS at level 4 of the Malta Qualifications Framework attained from a training institution licensed by the National Commission for Further and Higher Education.

 

Can a person obtain the licence without associating with an agency?

A Real Estate Agent and a Property Broker can hold the licence without association with an agency.

The Branch Manager and the Property Consultant licence have to be associated with an agency.

 

What distinctions are made between the property broker, property consultant, and real estate agent?

A property broker is a person who is involved in the transactions of real estate but works on his own, without engaging any managers or consultants.  This term applies to the traditional sensar.

A property consultant is a person who is involved in real estate transactions and is employed or contracted by an estate agent and who acts under the directions of the estate agent or of a branch manager.

An estate agent is a person who is licensed to deal in real estate and who employs or contract one or more branch managers and/or one or more property consultants.

 

Will agents with a lot of experience require a licence also?

Yes, all consultants require to hold the certificate and obtain a licence.

 

Who will be awarding and keeping track of licensed persons?

A Licensing Board will be set to keep track of licensed persons.

 

Does a local sensar also require the licence?

Yes, if they are involved in more than 2 deals in a year, a licence is required.

 

Are there any restrictions on who can obtain the licence?

To obtain a licence, one has to be over 18 years of age, and hold a recognised certificate as explained above. Additionally, the person wishing to obtain a Maltese real estate licence must not be bankrupt or, due to his conduct and repute and his financial position be deemed unfit to carry out this activity in the interests of the public.

 

Dhalia has always put education at the forefront of its business strategy. From their first week working with Dhalia, new property consultants are given a comprehensive course on how to work effectively in the property industry. The course covers topics such as sales techniques, building requirements, real estate law, marketing strategies, and much more. Apart from theoretical education, beginners are paired with experienced property consultants and managers to help them get a solid footing. In this way, Dhalia prepares new recruits for everything they might face in the working world. Dhalia’s in-house training is in line with the recently enacted legal framework to grant agents an official licence. 

Join a real estate agency that puts people first, and let Dhalia help you obtain your real estate licence. Send your CV to hr@dhalia.com or call us on 21490681.