Starting September 15, real estate platforms must comply with Turkiye’s new verification system to ensure transparency and consumer protection.
As Turkiye prepares to implement its new “Verified Listings” regulation on September 15, real estate platforms across the country are making necessary adjustments to ensure compliance. The regulation, introduced by the Ministry of Trade, mandates that all property listings on real estate platforms be verified through the Electronic Listing Verification System (EİDS). This move aims to protect consumers from fraudulent listings and price manipulation, ensuring a more transparent real estate market.
Key Details of the New Regulation
- Implementation Date:
The second phase of the EİDS will be implemented starting September 15, 2024. This phase requires real estate platforms to verify all property listings through e-Devlet, Turkiye’s electronic government portal. - Purpose:
The regulation is designed to protect consumers from fraudulent listings and to prevent price manipulation by ensuring that all property details are accurate and verified.
Platforms Prepare for Compliance
- sahibinden.com:
Nazım Erdoğan, CMO of sahibinden.com, announced that the platform is in the final stages of technical preparations to comply with the new regulation. “We are working diligently to ensure a smooth transition for both individual and corporate users,” Erdoğan said. He emphasized that by September 15, all necessary updates will be completed, and users will experience a seamless shift to the new system. - Previous Compliance Success:
Erdoğan highlighted that sahibinden.com was the first portal to implement the initial phase of the EİDS back in November 2023. “Our team is well-versed in the requirements, and we are confident in our ability to lead the industry in this transition,” he added.
Implications for Real Estate Professionals
- Certification Requirement:
From January 1, 2025, real estate consultants without a valid authorization certificate will no longer be able to post listings on these platforms. “We urge consultants who have not yet obtained their certification to do so immediately,” Erdoğan stressed. - Preventing Unfair Competition:
Erdoğan also pointed out the importance of ensuring that not only online platforms but also offline channels and social media groups comply with the new regulation. “This will prevent unfair competition and ensure that all market participants adhere to the same standards,” he noted.
Impact on the Real Estate Market
- Increased Transparency:
Tolga İdikat, CEO of Emlakjet, noted that the EİDS will bring significant changes to the real estate sector. “This regulation will ensure that all listings are verified against official property records, making the market more transparent and reliable for consumers,” İdikat said. - Consumer Confidence:
By allowing only authorized real estate agents to post listings, the regulation will reduce the number of fraudulent and misleading ads. This will, in turn, build consumer confidence in the market, as buyers and sellers will be assured of the authenticity of the listings they interact with.
Compliance and Implementation
- Platform Readiness:
Emlakjet has already completed the necessary infrastructure upgrades to comply with the new regulation. “Our platform has been updated to meet all the requirements of the EİDS,” İdikat confirmed. Users can expect a safer and faster experience when posting or browsing listings on Emlakjet. - Educational Efforts:
Both sahibinden.com and Emlakjet are conducting extensive educational campaigns to inform real estate professionals and the public about the new regulation. These efforts include detailed guides on how to verify listings and the steps required to obtain the necessary authorization certificates.
Looking Ahead
The introduction of the “Verified Listings” regulation marks a significant step forward for Turkiye’s real estate market. As platforms like sahibinden.com and Emlakjet lead the way in compliance, the industry as a whole is expected to see increased transparency and reduced consumer fraud. This, in turn, will foster a more trustworthy and efficient market for all participants.
Real estate professionals and platforms must now adapt to these changes to ensure continued success in a rapidly evolving landscape. With the September 15 deadline fast approaching, the emphasis is on readiness, education, and compliance to achieve the goals set out by the Ministry of Trade.
Source: AA / Prepared by Irem Yildiz
