The Ministry of Economic Development and Tourism (MERT) submitted for public debate a draft law on mediation in traffic and rental of real estate, which should bring order to this activity.
According to the general director for the internal market and competition, Jasna Vujović, the initiative for the adoption of this law came from the group for real estate trade within the Board of Trade Associations of the Chamber of Commerce (PKCG), bearing in mind that until now this area was not adequately regulated by law.
– The existing legal regulations only give general guidelines for carrying out the activity in question, leaving a large number of institutes and elements to the market for self-regulation, which contributes to legal uncertainty in this area – said Vujović.
– Businesses and companies that are registered for real estate transactions are threatened by competition from unregistered citizens who engage in the same activity without any responsibility for omissions during transactions. Also, in such an unregulated real estate market, a large number of buyers are at risk due to the lack of complete information about real estate that is in circulation, as well as the lack of responsibility of persons dealing in real estate transactions if the sale contract is not implemented, so the provisions of this law protect consumers and prevent are abused in this area – explained Vujović.
In addition to the fact that a high level of legal security will be provided for all participants in mediation when trading or renting real estate, it will also have an impact on the reduction of the gray economy, which, according to Vujović, is extremely present in mediation activities. At the same time, it will strengthen the competitiveness of this sector, which is currently underdeveloped and cannot compete with companies from the EU.
