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el Aviv, Israel, March 10 (ANI/TPS): A new reform in real estate brokerage took effect on Sunday, introducing binding ethical guidelines for brokerages and regulating key aspects of their work. For the first time, these regulations will govern brokers' conduct towards the public and their obligations as licensees under the Ministry of Justice.
According to data from the Ministry of Justice, nearly a third of respondents who used brokerage services reported unfair treatment by brokers, with some even receiving incorrect information about properties. Notably, 56% of those claiming unfair treatment were apartment tenants, while 38% were buyers.
The reform was informed by an international comparative study and public consultations with stakeholders, including consumers, brokers, and industry experts. The Registrar of Brokers also reviewed complaints to identify areas requiring legislative regulation.
