Especially today, it is more important than ever to work exclusively with legally registered real estate agents. That is why we are delighted to announce that Engel & Völkers Mallorca is now officially listed in the Register of Real Estate Agents of the Balearic Islands (ROAIIB) – with 19 property shops and a commercial office!
This milestone reflects our professionalism, passion, and commitment to guiding you on the path to your dream property. Whether you are buying, selling, renting, or seeking the perfect investment opportunity, our extensive local expertise and personalized advice will pave the way to your new home on Mallorca. Our experienced team, who know the island inside and out, will help you find the perfect place to fulfill your wishes.
Below, you can find more information about the regulation of the real estate sector in the Balearic Islands..
A step towards transparency and security in the sector.
The real estate sector in the Balearic Islands is of fundamental importance to the local economy and has undergone remarkable development in terms of regulation and professionalization in recent years. The recent establishment of the official register of real estate agents of the Balearic Islands (ROAIIB) represents an important step towards transparency and security in this sector. This regulation meets the demands of the Balearic Association of National and International Real Estate Agents (ABINI), whose members played a leading role in introducing this measure. The 45 members of ABINI employ more than 450 real estate agents on the islands, highlighting the sector's significance for employment.
The official register of real estate agents
Registration with the ROAIIB is a voluntary step towards professionalizing the real estate sector. This measure offers real estate agents the opportunity to document their adherence to ethical and professional standards, thereby strengthening consumer trust and ensuring the quality of the services provided. The regulation was introduced to curb intrusive and fraudulent practices that have previously undermined consumer confidence in real estate transactions. This measure creates a framework that fosters a more professional environment and strengthens consumer rights.
Benefits for consumers and professionals
Voluntary registration with the ROAIIB offers numerous benefits for both consumers and real estate agents. Firstly, it ensures that registered agents commit to certain quality standards, thereby creating a safer and more trustworthy environment for buyers and sellers. The visibility of the registration number on all agent communications increases transparency and facilitates the identification of qualified professionals.
For market participants, this regulation provides better protection against potential fraudulent practices. Additionally, registered agents can take out liability and security deposit insurance to further enhance transaction security. This is particularly relevant in a market with high demand and complex offerings, where a transparent approach helps prevent abuse and ensure service quality.
Promoting transparency and professionalism
Since its founding in 2020, ABINI has been committed to improving standards in the Balearic real estate sector. The association has worked closely with the Balearic government and other organizations to ensure the smooth implementation of the ROAIIB. According to former President Hans Lenz, this register is "a crucial step towards the professionalization of the real estate sector in the Balearic Islands and for user safety." This statement underscores ABINI's commitment to ensuring that its agents meet high standards and build consumer trust.
ABINI's efforts to promote transparency and improve service quality have played a crucial role in the successful implementation of this initiative. The registration of its 45 members with the ROAIIB demonstrates the commitment required to enhance real estate services in the Balearic Islands. This commitment fosters greater trust among consumers, who can now rely on real estate agents who operate ethically and professionally.
Recommendation for choosing a real estate agent in the Balearic Islands
ABINI's recommendation is to choose regulated advisors who adhere to quality standards and display a registration number and badge on their website, offices, and advertisements. Selecting a reputable and responsible professional is an important decision when it comes to one of the most significant investments in life: buying or renting a property.
By working with a registered real estate agent, consumers can ensure they receive professional and transparent services that comply with recommended standards. This not only protects their financial interests but also contributes to the ongoing professionalization of the Balearic real estate market.
