Hisham Al-Qadi: New mechanisms to control the broker's profession to protect buyers from real estate fraud

Ashraf Tawfik

Hashem El Kady, Vice President of the Egyptian Real Estate Marketing Association, said, Mechanisms of controlling the broker’s profession, in addition to protecting buyers from fraud and fraud attempts during real estate purchases. Siraj, through the segments of the “Al-Jadaan Real Estate” program on Al-Cairo and Al-Nas 2 satellite channel, that the real estate marketing sector needs to be reorganized after the great chaos it faces, which made the House of Representatives discuss the procedures of the law regulating real estate brokerage to work and activate the supervisory procedures on the broker profession in Egypt, pointing out The new proposals in the law are to ban the practice of the broker profession except through those registered in the registry established for this purpose, the adoption of electronic payment methods for commercial and real estate brokerage works and the creation of electronic records for the registration of real estate brokers, in addition to the governance of their commercial activity and obligating them to provide complete data on the units offered for sale to hold him accountable if he tries manipulation of buyers N.

The real estate marketing expert added, that 2022 A major company founded the Egyptian Real Estate Marketing Association, explaining that the proposals submitted to the House of Representatives included the establishment of a special authority for real estate marketing to be specialized in granting licenses to practice the brokerage profession with the conclusion of a unified contract between real estate brokerage companies to determine the duties and financial rights of brokers and buyers, other than the separation of the commercial agency The law of marketing and real estate brokerage, otherwise the capital of the commercial real estate brokerage company is less than 100 one thousand pounds, with the activity being carried out through a registered and proven headquarters.