How to Be a Real Estate Agent in Portugal

how to be a real estate agent in portugal

If you have a desire to start a career in real estate in Portugal, then this article will provide you with all of the necessary details to become successful in this country. Real estate agents in Portugal work on a commission basis, sharing a standard commission with foreign agents. Although there are no notary publics in Portugal, there are two major real estate brokerage networks. Portuguese agents work on a commission basis and must have a real estate license to work in this country.

Real estate agents in Portugal work on commission

If you are looking to buy a property in Portugal, you may be wondering how real estate agents are paid. Most of them work on a commission and will not charge you any fees. In Portugal, there are several websites that offer real estate services. Century 21, IMO, and Sapo are just a few. You can also check out the local newspapers to see advertisements for available property. Portuguese lenders are also more than happy to provide mortgages to foreigners. This is done to promote the economy, boost the real estate market and keep the currency flowing.

There are two largest real estate brokerage networks in Portugal

If you’re thinking of selling your property in Portugal, you might wonder if you should get a professional broker or use a broker network. After all, you have to know that the majority of real estate companies are owned by the international brands. But how do you choose the best real estate brokerage network for your needs? There are many reasons to use a professional network. Here are some of the most common ones.

They share a standard commission with foreign agents

In addition to sharing a standard commission with foreign agents, real estate agents in Portugal are required to follow the Real Estate Agents Directive. These rules, which are enforced by the government, are aimed at ensuring that the industry is fair and transparent. However, you can get more details about the commission structure from your agent. Portugal follows the directive in most respects, although some particularities have been introduced.

There are no notary publics in Portugal

While notary publics are not required in Portugal, the country does offer a service similar to an English-speaking notary. Notaries are highly qualified lawyers who have the authority to legalise a wide range of private contracts and transcriptions. They have the added benefit of being state-officials, collecting taxes on behalf of the Portuguese government. Notary fees are generally between EUR500 and EUR1,000, depending on the size of the property. While notary services are typically limited to property contracts, they can also certify power of attorney documents and other legal documents.

They must have a license issued by IMPIC

The new law states that a real estate agent must hold a license issued by IMPIC. As such, he or she must report all transactions to IMPIC. The new law also requires real estate agents to keep written records of all transactions for seven years. Additionally, real estate agencies must implement procedures to prevent money laundering and report any new real estate transactions to IMPIC. In addition, a compliance officer must be assigned to a real estate agency with more than five people.