Currently, any property that is advertised online should carry a unique identifying number from the governments Trakheesi system. In order to get a Trakheesi number, an owner must sign a Form A allowing an agent to advertise their property online. This is to increase the integrity of the market and ensure that only genuinely available properties are advertised.
Currently, whilst this system is in place, some real estate brokers have still been able to list properties that don’t carry the unique Trakheesi number on the property portals. This will now change as the portals have been instructed that all of these properties must be removed.
Property Finder is first off the mark to ensure this clear up is taken care off. From the beginning of February property hunters can no longer expect to call up about a property only to be told ‘this property is no longer available; however, I do have something similar’ or even turn up on a viewing to find the property originally enquired about is not the property they are being shown around.
This is welcomed news for property hunters as it clears listings which may have been strategically put on portals to grab their attention. Properties which are no longer on the market and do not have motivated sellers will be removed from portals.
The implementation of mandatory Trakheesi numbers will help to clean up the property market and build buyer confidence by increasing transparency in the market. Buyers and tenants will be able to work with real estate agencies that implement the correct practices and operate to legal standards.