How the industry is changing
The real estate industry in Mallorca is characterised by a multitude of players who call themselves “agents”. The exact number is difficult to say, but these figures fluctuate between 1,000 and 7,000. Unfortunately, this high number is often accompanied by a lack of professionalism.
Consumer protection representatives are often receiving complaints about misadvise and fraud in connection with real estate transactions in the Balearic Islands. In some cases, there are even criminal proceedings against “agent” who have negligently disregarded the basic standards of the profession.
These abuses cause mistrust and resentment among clients who are looking for a property in Mallorca. There is and has been an urgent need for action to professionalise the industry in Mallorca and create more trust and transparency.
