Montenegro regulates the Real Estate Brokerage

The Ministry of Economic Development and Tourism adopted the Draft Law on Real Estate Brokerage.

The adoption of this law is motivated primarily by the need to suppress the grey economy that is flourishing in the field of real estate brokerage.  The second, equally important motive is the protection of participants and the prevention of abuses and fraud in real estate sales. The key novelty that this Law brings is the introduction and licensing of the institutes of Real Estate Brokers and Agents in the sales and lease of real estate.

The deadline for harmonization of the business of the Brokers is 12 months from the date of its entry into force.

Adoption of this law is justified and necessary and its adoption and consistent application will greatly contribute to making the real estate market much more regulated and even more attractive for serious clients.

The full text of the article prepared by  Partner Marija Živković and Associate Aleksa Janković in English and Montenegrin can be found here

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