The Cyprus Real Estate Agents Registration Council has once again raised objections to a draft law, currently under review by the House’s Legal Affairs Committee, that would reserve the drafting of all rental and sale agreements exclusively to lawyers. In a statement issued Monday, the Council warned that the proposal “directly undermines the profession of estate agents” and “erects artificial barriers” to their properly regulated, transparent, and tax‑compliant activities.
Although estate agents do not offer legal advice, the Council emphasized their indispensable role in preparing and executing private lease contracts and preliminary purchase agreements. “Their involvement is a linchpin for the efficient operation of the property market, especially amid a housing shortage,” the statement noted.
The Council outlined several core objections:
Violation of Contractual Freedom: It argued the measure infringes on citizens’ constitutional right to freely negotiate private contracts without compulsory third‑party involvement, a principle deeply rooted in Cypriot law and jurisprudence.
Increased Transaction Costs: By forcing parties to engage lawyers for routine documents, the amendment would drive up expenses for tenants, buyers, and property owners.
Creation of a Legal Monopoly: Limiting contract drafting to attorneys would stifle collaboration and practical transaction processes, while jeopardizing the livelihoods of hundreds of licensed estate agents nationwide.
Mischaracterization of Estate Agents’ Duties: The acts targeted by the proposal are not legal opinions but rather organizational and procedural tasks based on standardized forms and mutual consent.
Consequently, the Council has called for the immediate withdrawal or rejection of any legislation that arbitrarily curtails estate agents’ professional scope, pledging to defend its members against any attempt to diminish or eliminate their role.
This is not the Council’s first protest against such reforms. In December 2024, it criticized an earlier version of the same bill, with President Marinos Kineyirou warning that it would “effectively sideline estate agents from fundamental real estate transactions,” conflict with European best practices, and inflate costs unnecessarily.
That earlier proposal had received backing from the Cyprus Bar Association. Its president, Michalis Vorkas, argued that restricting contract drafting to lawyers would bolster legal compliance, safeguard buyers from invalid agreements, and mitigate money‑laundering risks by ensuring proper oversight through attorneys, rather than unregulated outlets.
Text based on materials from www.cyprus-mail.com
Cyprus has quickly become one of Europe’s most desirable...
