Working with a Real Estate Agent: License, Contract, and Commission

A good real estate agent can save you significant time on pricing, listing, showings, and the title deed process. Turkey has a dedicated regulation for people and businesses that trade in real estate, and it sets out both the agent's obligations and the consumer's rights.

License (yetki belgesi)

Trading in real estate requires a real estate trading license issued by the Ministry of Trade. Asking for your agent's license number and verifying it establishes a clear party to turn to should a dispute arise.

Written authorization contract

Before an agent can market a property for sale or rent, they must sign a written authorization contract with the owner. The contract covers the property's details, the asking price, the service fee, the contract's term, and the parties' rights.

• Exclusive (sole agency) contract: Only that agent markets the home; the agent typically commits more effort and budget.
• Non-exclusive contract: More than one agent can market the same home; this raises the risk of listing clutter and the home showing up at different prices.

The commission (service fee) cap

Under the regulation, in a sale the service fee an agent can charge each of the buyer and the seller is capped at 2% of the sale price plus VAT. For a rental, the service fee is capped at one month's rent plus VAT. These are upper limits; a lower fee can always be agreed.

What to watch for

• Pay the deposit directly to the owner whenever possible, not to the agent, and get it in writing.
• Clarify in the contract when the service fee is due (usually at the title transfer).
• Insist that the home's actual sale price be reflected on the title deed; don't go along with suggestions to understate it.