The main goal of the draft law is to reform the real estate sector with the aim of legalizing its operations. Among the significant innovations is the mandatory registration of all realtors in a state registry and the issuance of identification cards to them. Working without the appropriate registration will be considered an offense, which will result in fines: 7500 soms for individual entrepreneurs and 23000 soms for legal entities.
Additionally, separate fines are provided for illegal advertising and promotion of services on the internet. In this case, individuals may be fined up to 10000 soms, while legal entities may face fines of up to 28000 soms.
The draft also introduces stricter requirements in the provision of real estate services: advertising of real estate must only occur after a contract is signed with the client, and the realtor is obliged to indicate their name, registration number, and contract number.
Once a deal is arranged or a preliminary contract is signed, advertising of the property must cease.
Another important aspect of the draft law is the clarification of tax norms: instead of the general term "real estate," the concept of "two units of real estate" is introduced. This is aimed at limiting speculative operations and creating anti-flipping regulations.
The Cabinet of Ministers is proposed to establish unified standards for real estate services, as well as to determine the procedure for the qualification improvement and certification of specialists, the rules for registration, and the issuance of identification cards.
The explanatory note to the draft law emphasizes that the proposed changes are aimed at combating the illegal market, protecting consumer rights, and improving the quality of services provided.
