Experts Discuss Real Estate Brokerage Regulation at Industry Forum

Experts Discuss Real Estate Brokerage Regulation at Industry Forum

Business

At a forum on Wednesday, experts gathered to discuss the regulation of real estate brokerage, marking the first event in this year’s Real Estate Business Forums series, organized by imoti.net.

The National Real Estate Association (NREA) has proposed a bill to regulate real estate brokerage, with NREA head Alexander Bochev emphasizing that the industry is mature enough for such oversight. Iliana Rashkova, Deputy Chair of the National Association of Real Estate Brokers (NAREB), stressed the need for clear rules to enhance the profession’s credibility and bring Bulgaria closer to European standards. She highlighted that 18 European countries already have regulated real estate brokerage, CE Report quotes BTA

Vesselina Stoeva, Chair of the Association for the Development of Real Estate Brokers, pointed out the need to define unfair practices and establish minimum skill requirements for brokers. Meanwhile, Georgi Pavlov, Chairman of AG Capital’s Advisory Board, noted that while the industry supports regulation, the current bill raises concerns and requires revisions to unify stakeholders.

Dr. Gergana Tsankova of LUXIMMO Group emphasized the importance of differentiating between small rental deals and large commercial transactions to ensure fair regulations. She cautioned against excessive bureaucracy that could hinder the industry rather than support it.

Bochev argued that the industry should self-regulate through an industry chamber rather than rely on state administration. However, Pavlov criticized this approach as undemocratic.

The forum reiterated that industry regulation has been a topic of discussion since 1995, with the first bill introduced in 2013. Official data shows that Bulgaria has 26,845 companies operating in the real estate sector, including property management firms.

Tags

Related articles

Tahov: No Reason for Food Price Hikes
There are no economic or production reasons behind rising food prices in Bulgaria, Agriculture Minister Georgi Tahov told bTV on Sunday.
Bulgaria Joins Key Transport Corridors
Bulgaria’s Black Sea port of Burgas is set to become a key hub in the developing Three Seas Corridor, Deputy Transport and Communications Minister Dimitar Nedyalkov announced at the Balkan Business Forum in Bansko on Saturday.
Türkiye Highlights Development Road’s Economic Impact
President Recep Tayyip Erdogan said Friday that Türkiye aims to turn its geopolitical position into a regional economic advantage through the Development Road Project.
Tesla Sales Plunge in Europe
Tesla's vehicle sales in Europe dropped sharply by 40.5% year-on-year in May, according to data released Wednesday by the European Automobile Manufacturers' Association (ACEA).
Energy Prices Fall After Ceasefire
Global energy prices fell sharply on Tuesday, retreating below pre-conflict levels after U.S. President Donald Trump announced a ceasefire between Israel and Iran.
Greece Reports Strong Budget Surplus
Greece’s state budget recorded a primary surplus of €5.34 billion on a modified cash basis for January–May 2025, far surpassing the target of €1.06 billion and the €3.20 billion surplus in the same period of 2024, the Finance Ministry announced Wednesday.
Brent Crude Drops Below $70 Amid US-Iran Tensions
Brent crude oil prices fell below $70 a barrel on Monday for the first time since the recent escalation between Israel and Iran.
Greece Launches First CubeSat into Orbit
Greece has successfully launched its first CubeSat, DUTHSat-2, into orbit as part of the National Microsatellite Programme, supported by the European Space Agency (ESA).
Markets Waver on Iran Tensions
Global markets began the week on a mixed note following heightened tensions in the Middle East, as the US launched airstrikes on three Iranian nuclear facilities—Fordo, Natanz, and Isfahan—over the weekend.