The Qurultai is considering legislative amendments aimed at protecting clients of real estate agents. The proposed regulation of the real estate services market was discussed by representatives of the Ministry of Trade and Integration, the Public Council, and the professional community. The Ministry has already received three favourable Government opinions on these initiatives.
A member of the Public Council Marlen Smailov noted that Kazakhstan currently has no state register of real estate agents, accreditation system, or common service standards. Clients do not always have a clear understanding of how commission fees are calculated or where to file a complaint if their rights have been violated.
Vice-President of the National Chamber of Realtors PANA Asset Aitbayev identified unqualified intermediaries and fraud as the sector’s main challenges. According to him, people entrust transactions worth tens of millions of tenge to professionals whose qualifications cannot be verified in advance. PANA has already launched a pilot online certification programme for real estate agents, featuring a database of more than 1,000 questions, and is developing a public register of professionals.
Alongside the legislative amendments, a professional standard for real estate services is being developed. The working group under the Qurultai will continue to discuss the detailed regulatory framework, and the proposed changes will also be discussed further with members of the Public Council.
Ultimately, clients are expected to gain the ability to verify the credentials of real estate agents, obtain advance information on the cost and scope of services, and protect their rights in the event of violations.
