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Deregulation under debate: the sector's response to the changes the Government is considering for the real estate market - Ambito Financiero
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www.ambito.com
March 25, 2026
By José Luis Cieri
Brokers, notaries and industry associations take a stand on the modifications being considered by Federico Sturzenegger regarding registration, fees and digitization.
The potential deregulation of real estate brokerage reopens the debate on costs, controls, and legal security in buying, selling, and renting transactions.Pexels
The national government is moving forward with a package of measures that could modify the functioning of the real estate market in Argentina. As reported by Ámbito , the initiative reviews key aspects of the industry, from the intermediation model to transaction costs and the incorporation of digital tools.
The plan, promoted by Javier Milei 's administration and driven by the Ministry of Deregulation and State Transformation headed by Federico Sturzenegger , aims to reduce costs, eliminate bureaucratic obstacles and promote greater competition.
However, the first reactions from the sector reveal a scenario of strong nuances, with partial support and questioning on sensitive issues.
From the real estate sector, the response was immediate. Marta Liotto , president of the Buenos Aires Real Estate Association and head of the Federal Council of Real Estate Associations (COFECI), warned about the risks of moving in that direction. “Professional registration guarantees training, oversight, and security in transactions. Eliminating it would not expand rights, but rather could leave citizens unprotected.”
The leader emphasized the role of regulation in a market where high-impact asset decisions are channeled. She explained that real estate brokerage cannot be understood solely as a commercial activity, as it involves legal, contractual, and financial aspects that require technical expertise and oversight.
In that context, he emphasized that professional associations not only regulate the profession, but also allow for the application of sanctions and the establishment of minimum standards of conduct. “Without regulation, the risk is that controls will be diluted and the transparency of operations will be compromised.”
Along those lines, he also questioned one of the central assumptions of the government initiative. “To assume that deregulating real estate brokerage will lower costs is a real mistake. The main expenses of a real estate transaction are taxes, fees, and registration costs.” He added: “Eliminating professional regulation would not reduce those costs; it could only create more problems than it solves.”
The potential for greater flexibility in fees in the real estate sector raises questions about how commissions will be negotiated in a more competitive market.
Furthermore, he argued that opening the market should not lead to an unregulated system. “Competition is healthy, but it must take place among qualified and responsible professionals, not in an informal environment that harms citizens.”
In that regard, he warned that moving forward without coordination could generate conflicts. “Eliminating these rules without federal coordination would create regulatory confusion, jurisdictional conflicts, and difficulties for professional oversight.”
He also pointed out that professions are regulated by the provinces and that any modification without that framework could lead to institutional and judicial conflicts.
“If brokerage becomes a more open service, the main impact will be more competition and pressure on commissions. This forces companies to compete on real value: lead generation, marketing, data, closing speed, and customer experience,” he noted.
He also suggested that in a scenario with fewer formal barriers, real estate networks and franchise models could gain ground. “In a more open market, the barrier to entry is less important, and brand, training, processes, and technology are more so. Clients will seek support from structures they trust.”
The signing of the deed and the definition of fees remain at the center of the debate in a scenario of greater freedom to agree on costs in real estate transactions. Pexels
However, he also set limits on deregulation. “There can’t be an activity without controls, but neither can there be a closed system that stifles competition and innovation. The challenge is to find a framework with clear rules, traceability, and effective sanctions.”
Along those lines, he proposed moving towards a national registry that would allow for the validation of the identity, background, and conditions of those operating in the market, incorporating tools such as digital signatures.
For García Malbrán, this point is directly linked to competition. “In a more open market, pressure on commissions is inevitable. Those who provide good service will be able to maintain their fees, not through regulatory protection, but through added value.”
From the institutional sector, however, they warn that total liberalization could lead to a lowering of standards and greater informality, especially in smaller-scale operations.
Liotto highlighted that point, albeit cautiously. “Digital transformation can streamline procedures, reduce processing times, and improve the traceability of operations,” he stated, but clarified that its implementation must include “security standards, identity verification, and coordination with registries and notaries.”
“Technology is an extraordinary tool, but it does not replace the legal controls that guarantee the legality of a real estate transaction.”
As he explained, the system allows for transactions to be carried out via videoconference, enabling the signing of lease agreements, powers of attorney, and authorizations without the need to physically visit a notary's office. He also emphasized that these tools allow for the resolution of situations remotely, even from abroad, reducing both time and operating costs.
The digital platform of the College of Notaries of the province of Buenos Aires allows for remote signatures and certifications, with legal validity and higher control standards.
Longhi also emphasized that the system incorporates key controls in every transaction. “Notarial intervention allows for verification of identity, discernment, and absence of coercion at the time of signing.”
In parallel, he anticipated that the sector is working on new stages of digitization, such as integration with property registries to move towards fully digital registrations and the digitization of notarial archives.
In that context, Longhi maintained that the system already allows for progress in digitization, but emphasized its limitations: “A digital signature alone does not have the same legal standing as a certified signature.” He concluded: “We can advance in technology and costs, but always with legal certainty.”
www.buysellba.com
Source:
Desregulación en debate: la respuesta del sector a los cambios que analiza el Gobierno para el mercado inmobiliario
Corredores, escribanos y cámaras del sector fijan posición ante las modificaciones que estudia Federico Sturzenegger en matrícula, honorarios y digitalización.
www.ambito.com
March 25, 2026
By José Luis Cieri
Brokers, notaries and industry associations take a stand on the modifications being considered by Federico Sturzenegger regarding registration, fees and digitization.
The potential deregulation of real estate brokerage reopens the debate on costs, controls, and legal security in buying, selling, and renting transactions.Pexels
The national government is moving forward with a package of measures that could modify the functioning of the real estate market in Argentina. As reported by Ámbito , the initiative reviews key aspects of the industry, from the intermediation model to transaction costs and the incorporation of digital tools.
The plan, promoted by Javier Milei 's administration and driven by the Ministry of Deregulation and State Transformation headed by Federico Sturzenegger , aims to reduce costs, eliminate bureaucratic obstacles and promote greater competition.
However, the first reactions from the sector reveal a scenario of strong nuances, with partial support and questioning on sensitive issues.
Registration under discussion
One of the most controversial points is the potential relaxation of the mandatory registration system for practicing real estate brokerage. Currently, the activity is regulated and requires registration with professional associations, in addition to compliance with formal requirements.From the real estate sector, the response was immediate. Marta Liotto , president of the Buenos Aires Real Estate Association and head of the Federal Council of Real Estate Associations (COFECI), warned about the risks of moving in that direction. “Professional registration guarantees training, oversight, and security in transactions. Eliminating it would not expand rights, but rather could leave citizens unprotected.”
The leader emphasized the role of regulation in a market where high-impact asset decisions are channeled. She explained that real estate brokerage cannot be understood solely as a commercial activity, as it involves legal, contractual, and financial aspects that require technical expertise and oversight.
In that context, he emphasized that professional associations not only regulate the profession, but also allow for the application of sanctions and the establishment of minimum standards of conduct. “Without regulation, the risk is that controls will be diluted and the transparency of operations will be compromised.”
Along those lines, he also questioned one of the central assumptions of the government initiative. “To assume that deregulating real estate brokerage will lower costs is a real mistake. The main expenses of a real estate transaction are taxes, fees, and registration costs.” He added: “Eliminating professional regulation would not reduce those costs; it could only create more problems than it solves.”
The potential for greater flexibility in fees in the real estate sector raises questions about how commissions will be negotiated in a more competitive market.
Furthermore, he argued that opening the market should not lead to an unregulated system. “Competition is healthy, but it must take place among qualified and responsible professionals, not in an informal environment that harms citizens.”
Federalism and legal framework
Liotto also highlighted a key legal aspect: the federal nature of the regulation of the activity. “Real estate brokerage is regulated by provincial laws, because property rights and registries depend on each jurisdiction.”In that regard, he warned that moving forward without coordination could generate conflicts. “Eliminating these rules without federal coordination would create regulatory confusion, jurisdictional conflicts, and difficulties for professional oversight.”
He also pointed out that professions are regulated by the provinces and that any modification without that framework could lead to institutional and judicial conflicts.
More competition and rule changes
From another perspective, more focused on opening up the market, Mariano García Malbrán , president of the Chamber of Real Estate Services Companies (CAMESI), considered that a relaxation could generate a structural change in the dynamics of the sector.“If brokerage becomes a more open service, the main impact will be more competition and pressure on commissions. This forces companies to compete on real value: lead generation, marketing, data, closing speed, and customer experience,” he noted.
He also suggested that in a scenario with fewer formal barriers, real estate networks and franchise models could gain ground. “In a more open market, the barrier to entry is less important, and brand, training, processes, and technology are more so. Clients will seek support from structures they trust.”
The signing of the deed and the definition of fees remain at the center of the debate in a scenario of greater freedom to agree on costs in real estate transactions. Pexels
However, he also set limits on deregulation. “There can’t be an activity without controls, but neither can there be a closed system that stifles competition and innovation. The challenge is to find a framework with clear rules, traceability, and effective sanctions.”
Along those lines, he proposed moving towards a national registry that would allow for the validation of the identity, background, and conditions of those operating in the market, incorporating tools such as digital signatures.
Fees and costs under review
Another area of analysis is the fee structure, both for brokerage and notarial services. The official intention is to allow greater freedom for the parties to agree on costs, which could lead to changes in the current structure.For García Malbrán, this point is directly linked to competition. “In a more open market, pressure on commissions is inevitable. Those who provide good service will be able to maintain their fees, not through regulatory protection, but through added value.”
From the institutional sector, however, they warn that total liberalization could lead to a lowering of standards and greater informality, especially in smaller-scale operations.
Digitization and processes
Where there is a greater level of agreement is on the need to advance the digitization of operations. The possibility of implementing digital signatures and remote deed registration is seen as a key tool for streamlining processes and reducing administrative times.Liotto highlighted that point, albeit cautiously. “Digital transformation can streamline procedures, reduce processing times, and improve the traceability of operations,” he stated, but clarified that its implementation must include “security standards, identity verification, and coordination with registries and notaries.”
“Technology is an extraordinary tool, but it does not replace the legal controls that guarantee the legality of a real estate transaction.”
The role of the notary
From the notarial perspective, the view combines concrete advances with warnings about the limits of deregulation. Guillermo Longhi , president of the Notary Association of the province of Buenos Aires, explained that a significant part of the digitization process is already underway. “Today we can certify signatures, issue attestations and authorizations, and legalize them digitally, with validity throughout the country and even abroad.”As he explained, the system allows for transactions to be carried out via videoconference, enabling the signing of lease agreements, powers of attorney, and authorizations without the need to physically visit a notary's office. He also emphasized that these tools allow for the resolution of situations remotely, even from abroad, reducing both time and operating costs.
The digital platform of the College of Notaries of the province of Buenos Aires allows for remote signatures and certifications, with legal validity and higher control standards.
Longhi also emphasized that the system incorporates key controls in every transaction. “Notarial intervention allows for verification of identity, discernment, and absence of coercion at the time of signing.”
In parallel, he anticipated that the sector is working on new stages of digitization, such as integration with property registries to move towards fully digital registrations and the digitization of notarial archives.
In that context, Longhi maintained that the system already allows for progress in digitization, but emphasized its limitations: “A digital signature alone does not have the same legal standing as a certified signature.” He concluded: “We can advance in technology and costs, but always with legal certainty.”
www.buysellba.com
