The Ministry of Economy and Commerce of Kyrgyzstan submitted a new bill on realtors for public discussion.
The document states that there should be a unified state policy in the sphere of regulation of real estate activity.
It is proposed to limit the circle of people who can provide services as a realtor. In particular, officials involved in the sale of real estate in accordance with the law on privatization can not be realtors.
Those involved in the sale of real estate by order of the courts or executive authorities, including bailiffs, administrators, conservators, external administrators, special administrators or liquidators, also can not be realtors under the bankruptcy law. The latter also do not include owners or landlords of real estate.
Accordingly, these categories are not covered by the law.
The document also notes that the state reserves the right to regulate relations in the real estate sector and must create favorable conditions for the development of this segment of the real estate market.
A unified state register of real estate companies will also be created. In addition to agents, brokers will also appear in this segment. They can be agents with more than two years of experience in the real estate market. They must have the right to sign documents.
Brokerage activity means entrepreneurial activity on behalf of an independent subject of the real estate market, aimed at making a profit. A broker can negotiate, provide information about this or that real estate.
