The Czech government wants to impose stricter rules for real estate brokers. It’s approved a draft law on real estate brokerages that will specify the qualifications necessary for the profession as well as conditions for dealing with client money. At the moment, anyone with a trade license who doesn’t have a criminal history is eligible to become a broker. The government is now demanding that the brokers pass qualifications tests in the future and that client’s money is kept on separate accounts, so that in case of bankruptcy the liquidator cannot confiscate it.
Czech Prime minister Bohuslav Sobotka explained that the government wants to guarantee citizens a minimum level of security similar to that enjoyed across the the EU. As of 2013, there were 15,300 brokers active in the Czech Republic, which is one per every 688 inhabitants. In Germany, there’s just one broker per 6,700 people, while in Poland it’s one per 3,800 inhabitants.
