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ARTICLE · 05 JUNE 2024

The Real Estate Agent Act – Reformed

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On 1 February 2024, the Act of 22 January 2024 reforming the Act of 11 February 2013 on the organisation of the profession of real estate agent entered into force.

BelgiumReal Estate and Construction

On 1 February 2024, the Act of 22 January 2024 reforming the Act of 11 February 2013 on the organisation of the profession of real estate agent entered into force.

The new Act has a dual objective: it aims to modernise the practice of the profession of real estate agent and facilitates access to the profession.

1. EASED CONDITIONS FOR PRACTICING AS A REAL ESTATE AGENT

Since 2013, any legal entity that performs real estate agent activities may apply for registration with the Belgian Professional Institute of Real Estate Agents (Beroepsinstituut van Vastgoedmakelaars ("BIV") in Dutch, or the Institut Professionnel des Agents Immobiliers ("IPI" in French) (hereinafter referred to as "the Institute"). Once registered, the legal entity is considered a professional real estate agent. The aim was to enable the limitation of the civil liability of real estate agents in this way and to combine the forces of multiple real estate agents.

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