Hundreds of real-estate agents march to protest new law

Several hundred real-estate agents Monday marched to express their discontent over a newly-enact­ed law regulating the city’s property agents and agencies, claiming the law will “kill” their business.

According to The Macau Post many of the protesters were carrying banners claiming that the law will kill their business and that it is violating privacy.

They called for “resumption of the status quo” or simplification of their profession’s legal procedures to protect their business environment.

The protesters also carried banners claiming that the law was “too strict” and that it was “unreason­able” to have to wear their official licence badge when working.

According to the law, all real-estate agents must wear the badge which includes the agent’s name and licence number as well as their agency’s designation and licence number.

Several pro­testers said the government had not consulted them before drafting the bill to regulate their sector.

According to the protesters, about 1,500 joined the march. According to a statement by the Public Security Police (PSP), around 800 people took part in the march.

The law was promulgated in November last year but only took effect yesterday.

According to the law, both real-estate agencies and agents must be licensed. The law, which was passed by the legislature, also lists several requirements property agencies must comply with to obtain a licence including that they must operate their business in a commercial but not a residential building.

The law also states that there are several requirements property agents must meet, such as that they must pass the government’s relevant exams before being issued a licence and that all real-estate agents must have finished senior high school.

The law also states that current agents are allowed to continue working with a provisional licence, which will expire three years after the law takes effect, to give them time to meet the new requirements.

According to the law, real-estate agents can only begin to represent clients after signing a written contract with them.(macaunews)