Raising the Bar: A New Era of Real Estate Transparency in the Balearic Islands

Nov 25, 2024

We are pleased to announce a major milestone for the real estate sector: the Creation of the Official Registry of Real Estate Agents (ROAIIB). This development not only raises quality and professionalism standards, but also reinforces trust and transparency in a key market like real estate.

At MallorcaSite, together with ABINI (Balearic National and International Real Estate Association), we are proud to be part of this transformative change that will greatly benefit the real estate sector in the Balearic Islands.

The implementation of this registry arises in response to the growing need to combat unqualified actors and unfair practices that have led to market mistrust. Now, with a solid regulatory framework, the sector becomes more professional, structured, and respectful of consumer rights.

We are pleased to announce that MallorcaSite, along with 33 brands associated with ABINI, is officially registered in the official real estate registry of the Balearic Islands. This achievement reinforces our commitment to excellence and transparency in all real estate transactions.

Benefits for Consumers and Professionals

The ROAIIB brings several key benefits for everyone involved in the sector:

1. Trust and Transparency:

Registered agents meet ethical and quality standards, and their registration number is visible in all their communications, making it easy to identify certified professionals.

2. Consumer Protection:

This regulation requires agents to have Civil Liability Insurance and Surety Insurance, ensuring safer transactions.

3. A Safer Environment:

In a high-demand and complex market, the registry ensures strict control and quality services.

Fighting Intrusion and Consequences of Non-Compliance

The regulation also establishes significant penalties for those who fail to register or display their registration number in communications. This is considered unauthorized practice and may result in fines ranging from €3,001 to €30,000, as well as temporary suspension or even disqualification as a real estate agent.

These measures are intended to protect the integrity of the real estate market in the Balearic Islands and ensure that only accredited professionals operate in the sector.

Our Message to Users

From MallorcaSite, together with ABINI, we call on all real estate service users in the Balearic Islands:

Trust in regulated and certified professionals.

It is essential for agents to display their registration number on their websites, offices, and advertising materials. Choosing serious and responsible professionals not only ensures safe transactions but also provides peace of mind when making one of life’s most important decisions: finding your ideal home.

Let’s take this step together towards a safer, clearer, and more committed real estate market!