The law on real estate brokers in Bulgaria has so far been absent, but now the state is moving decisively to introduce strict regulation. The Ministry of Education has submitted for public discussion a draft Regulation on the acquisition of qualifications for the profession of “Broker.”

State educational standards for brokers

The basis of this project is the introduction of a state educational standard (SES) for the profession of “broker.” Brokers will now have strict requirements for knowledge, skills, and competencies. These requirements will become mandatory for all educational and training institutions that have the right to organize training in this field. Training will end with the issuance of a Certificate of Professional Qualification or a Certificate of Professional Education.

Opportunities for students

This change opens up new opportunities for students. Now students who have a basic education and are 16 years of age or older will be able to train as brokers. Moreover, they become eligible to take the state exams for matriculation or secondary education. According to the new requirements, people trained under these regulations can work as real estate agents in Bulgaria, real estate brokers, property management agents, and even real estate salesmen.

Role and responsibilities of a broker

The draft regulation also details the profession of a broker, who is an intermediary in the procedure of buying and selling real estate, buildings, and individual objects in buildings. This person keeps accounts, analyzes the market, and provides information to both agencies and developers, as well as to clients. By the way, for the reliability of the data provided, he is personally responsible.

It should be noted that the National Association of Real Estate Brokers has been working for a long time on the introduction of market regulation and special training programs in public schools for future brokers. As we can see, the results of this work are beginning to be visible.