Baku, Fineko/abc.az. The International Financial Corporation (IFC) experts have carried out primary assessment of the Bill on Realtor Activity, prepared by the Baku Realtors’ Association (BRA).

The IFC relevant project has already prepared and submitted the Bill primary conclusion to the BRA.

“Comparative analysis of the Bill with other countries’ legislative acts is underway,” IFC says.

BRA submitted the bill for consideration to IFC as early as in April 2009. The association intends to obtain consideration and adoption of the bill in 2009 or 2010.

IFC agreed to render assistance to this document drafting, advancement and realization.

When drafting the bill the BRA studied the Laws on Appraisal Activity in Azerbaijan and Russia and the Law on Realtor Activity in Ukraine. As a whole, the document brings legislative base under all the aspects of realtor activity and aims to register and increase the role of the realtor at the real estate market.

In the prospect the Association also expects to develop standards of realtor activity and introduce system of realtor certification to increase their authority.

On 30 October 2008, the Ministry of Justice conducted state registration of BRA in a form of public association.

The Association started operating since January 2009. Today it has announced its foundation officially.

The BRA founder shareholders became MBA Ltd consulting and appraisal company, New Europe real estate agencies and Baki Emlak (Baku Property).

26.10.2009 12:36