Morocco Moves to Regulate Real Estate Industry After Years of Delay

The Moroccan real estate sector has been waiting for this law since 2014. But the legislative process has been delayed due to the social dimension of the real estate agent profession. "This job does not require any entry barrier, especially financially, which allows many people to declare themselves real estate agents, regardless of their level of competence," explains Moncef Lahlou, general manager of Capital Foncier, to Challenge.

The regulation of this activity constitutes a threat to the many people who practice it without qualification, notes Lahlou, ensuring that the professionalization of this profession is nevertheless necessary to guarantee the transparency and reliability of real estate transactions. "By putting an entry barrier, you raise the level of the profession," affirms the general manager of Capital Foncier.

The manager believes that this regulation could encourage real estate agents to strengthen their skills in taxation, real estate law and professional ethics, as well as in areas such as negotiation, contract drafting and tax advice. Real estate agents must also have a perfect mastery of digital tools "such as CRMs or social networks" and be able to "use specialized software to manage requests and offers".

In summary, the adoption of this law will allow Morocco to have more professional real estate agents and guarantee the transparency and reliability of real estate transactions.