CEESS Global: New Era Begins in Real Estate Industry with Verified Listing Regulation

The Ministry of Trade is implementing an important regulation for the real estate sector in order to prevent informality in the real estate trade, combat fake advertisements and protect consumer rights. As of September 15, 2024, the Electronic Advertisement Verification System (EİDS) aims to ensure the accuracy of advertisements on real estate platforms.

With this regulation, real estate advertisements can only be placed by the real estate owner himself/herself, his/her first and second degree relatives, spouse or authorized real estate businesses. Authorization procedures can be easily done through e-Government.

According to the statements of Trade Minister Ömer Bolat, real estate owners will only authorize real estate businesses to advertise. Title deed transactions or other disposals will not fall within the scope of this authorization. In this way, both the rights of real estate owners will be protected and a secure transaction process will be ensured.

Authorization Process and Documents Real estate businesses will continue to be obliged to prepare the documents required by the regulation. In other words, important documents such as the authorization agreement, real estate showing certificate, purchase-sale and lease brokerage agreement will continue to be issued. In addition, real estate businesses that do not have an authorization certificate will not be able to advertise on advertisement platforms. For this reason, it is important for real estate businesses operating without authorization to obtain an authorization certificate urgently in order to avoid victimization.

Transition Period and Full Implementation The period between September 15 and December 31, 2024 is planned as a transition period. During this period, advertisements can be placed without verification, but verified advertisements will include the EİDS logo. As of January 1, 2025, it will not be possible to place advertisements without authorization verification.

As CEESS Global, we anticipate that this new regulation will make a significant contribution to preventing fake and misleading advertisements in the sector, preventing speculative price increases and reducing consumer victimization. We support the EİDS system, which will create a more reliable and competitive environment in the real estate trade, and we are committed to providing a more secure and transparent service to our customers.