Share article:
    Share article:

    Fake real estate agents ‘threat to the industry’

    Credit: Belga

    The Professional Institute of Real Estate Agents (IPI) opened an average of one file per day against a fake agent last year, it said Friday in its annual report.

    A total of 33 people practising the profession illegally were dismissed, while the others have regularised their activities.

    “Too many crooks are still taking the risk despite the serious consequences. Illegal practitioners pose a threat to the industry and especially to unsuspecting buyers and sellers,” the IPI warned.

    “Unlike a licensed broker, they have no training and do not have professional liability insurance and a financial guarantee that protects the consumer,” they said.

    Related Articles

     

    In addition, 43 certified estate agents have been struck off the register in 2019 – which means a definitive professional ban – for not having exercised their profession in an ethically correct manner.

    The Institute’s disciplinary body has also imposed 130 (temporary) suspensions.

    “One of the main tasks of the IPI is to ensure that real estate agents exercise their profession in an ethical manner, so that hunters and sellers of houses are protected at all times,” the organisation pointed out.

    Belgium currently has a record number of 10,630 estate agents.

    The Brussels Times