The Ministry of Trade Imposes a Million-TL Fine on Unauthorized Real Estate Agents! A Total of 29 Million 221 Thousand TL in Fines Issued!

The Ministry of Trade continues its work uninterruptedly to create a fair environment in the real estate sector and protect consumer rights. In this context, inspections have been tightened against real estate agencies operating without a license, and a total of 29 million 221 thousand 612 TL in administrative fines have been imposed so far.

Attention to Unauthorized Businesses!

Operating a real estate business without a license can result in severe sanctions by the Ministry of Trade. In this context, the following penalties may be applied to unauthorized businesses:

• Administrative fine: Administrative fines of high amounts such as 29 million 221 thousand 612 TL can be imposed on businesses that operate real estate without a license.
• Suspension of activities: Unauthorized businesses may be forced to suspend their activities.
• Legal action: Legal action may also be initiated against unauthorized businesses.

What is the Ministry of Trade Doing?

The Ministry of Trade carries out the following studies to prevent informal activities and unfair competition in the real estate sector:

• Electronic Announcement Verification System (EİDS): With this system, the accuracy of the information in real estate advertisements is controlled and unauthorized businesses are prevented from advertising.
• Inspections: Inspections by the Ministry teams have been tightened in the real estate sector, and a total of 78 million 200 thousand TL in administrative fines have been imposed on 782 real estate agencies so far.
• Combating price increases: Administrative fines are imposed on businesses that make excessive price increases in housing advertisements. In this context, 10 million 700 thousand TL in administrative fines were imposed on 107 businesses this month.

A Secure Environment is Created in the Real Estate Sector

As a result of the work of the Ministry of Trade, a safer and fairer environment has begun to emerge in the real estate sector. The number of unauthorized businesses is decreasing and price increases in the market are being brought under control.

Be Careful in Your Real Estate Transactions!

It is important to work with an authorized real estate agency when buying or selling real estate. An authorized real estate agency will help you complete your transactions in accordance with the law and protect your rights.