Following the price increases in the real estate sector, many decisions have been made regarding the industry. These decisions, aimed at reducing housing prices, were focused on the listings and real estate agents responsible for the price hikes. In response to the rise in housing prices, a new step has been taken to prevent price speculation in online real estate listings.
To curb speculation in the real estate market, changes were made to the Regulation on Real Estate Trade, and the requirement for identity and authorization verification for online real estate listings came into effect on November 1, 2023.
Initially, identity verifications for individuals and companies wishing to post real estate listings began to be conducted through the Electronic Listing Verification System (EİDS) under the Ministry of Trade. With the regulation expected to come into effect in September, it has been stated that verified real estate listings online will be marked with a logo.
The Ministry of Trade will complete the technical work for the second phase of the listing verification system by September 15. From September 15 to December 31, listings can still be posted without verification. If multiple real estate agents are authorized for the same property, a user accessing one listing will be able to reach the other listing through a link, allowing them to compare the prices offered by the two agents.
The application, set to be implemented in September, aims to prevent fraud in listings.
