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What can a real estate agent do? - La Nacion Propiedades
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¿Qué puede hacer un corredor inmobiliario?
Luego de que se hablara mucho sobre la posibilidad de desregular el mercado del real estate, aún está en debate cuáles son las tareas de un corredor inmobiliario
www.lanacion.com.ar
June 30, 2025
After much talk about the possibility of deregulating the real estate market, the tasks of a real estate broker are still under debate.
By Maria Josefina Lanzi
Learn about the duties, responsibilities, and obligations of a real estate agent.
In February of this year, a disturbing debate arose: the possibility of deregulation in the real estate market. This arose after sources close to Federico Sturzenegger, Minister of Deregulation and State Transformation, confirmed to LA NACION that they were beginning to analyze deregulation of this sector . In this context, many are wondering what tasks and requirements a real estate agent must perform and meet today.
First, it's important to clarify that, today, anyone who wants to work as a real estate broker must complete a degree —which in some provinces is a university degree and lasts more than four years— and, once graduated, obtain a license and pay the association a fee (annually or as a percentage of transactions) to be able to practice the activity . Those responsible for granting the license are the real estate associations or associations of auctioneers and public brokers, which are approved by the local governments of each jurisdiction in which they operate. For example, in the Province of Buenos Aires, there are 21 associations in different judicial departments, and in the rest of the country, there are between 17 and 18 associations spread across the 24 provinces, although not all have one.
Now, if we analyze the tasks they can perform, we could say—simply put—that a real estate broker is authorized to act in any real estate transaction . “If you have a property to rent or sell, you call a real estate broker to appraise or value it. They can also perform appraisals for successions, condominium divisions, or for companies that want to update their asset value,” explains Armando Pepe, former president of the Real Estate Association.
In Argentina, anyone who wants to work as a real estate agent must complete a degree. Pexels/Curtis Adams
He also explains that they are responsible for assisting the parties until the signing of the deed—in the case of a purchase and sale transaction—or the signing of the lease agreement—in the case of a rental. They also assist with documentation and operating procedures, and they analyze whether the property is not in succession or family property; in short, they ensure that the asset is available for disposal. “In the case of mortgage loan transactions, banks request a photocopy of the property deed, tax receipts, the building's co-ownership regulations, and the subdivision plan. Most owners don't have the regulations or plans, so we take care of tracking down and gathering those documents,” Pepe adds.
Now, to be precise, if we analyze the regulations, the definition and powers of the Broker are included in the Civil and Commercial Code (articles 1345 et seq., especially articles 1347-1349) and, in the case of Buenos Aires City, in article 2 of Law 2340 (which gave rise to the Association). In this regard, the first articles mentioned establish:
ARTICLE 1345.- Definition. A brokerage contract exists when one person, known as a broker, undertakes to mediate in the negotiation and conclusion of one or more transactions with another, without having a relationship of dependency or representation with either party.
Article 1347.- Obligations of the broker. The broker must:
- ensure the identity of the persons involved in the business in which it mediates and their legal capacity to contract;
- propose business with accuracy, precision and clarity, refraining from mentioning inaccurate assumptions that could mislead the parties;
- inform the parties of all circumstances that are within their knowledge and that may in any way influence the conclusion or modalities of the transaction;
- Maintain confidentiality of all matters concerning negotiations in which it is involved, which should only be given up upon request by a court or competent public authority;
- Assist, in operations carried out with its intervention, in the signing of the conclusive instruments and in the delivery of the objects or securities, if either of the parties so requests;
- keep samples of the products that are negotiated with your intervention, while the possibility of controversy regarding the quality of what is delivered persists.
Article 1348.- Prohibition. The broker is prohibited from:
- acquire, either by itself or through an intermediary, effects whose negotiation has been entrusted to it;
- have any kind of participation or interest in the negotiation or in the assets included therein.
Article 1349.- Guarantee and representation. The broker may:
- provide security for obligations of one or both parties in the negotiation in which they act;
- to receive from one party the assignment to represent it in the execution of the business.
Real estate agents assist in buying and selling or renting transactions. Freepik
What does the recent real estate deregulation bill say?
After nearly three months in which sources close to Federico Sturzenegger, Minister of Deregulation and State Transformation, confirmed to LA NACION that deregulation of the real estate sector was beginning to be analyzed, a PRO deputy presented a bill on Real Estate Freedom a few weeks ago.The initiative, drafted by Representative Alejandro Bongiovanni, would amend Law No. 20,266, passed in 1973. The bill proposes eliminating five restrictions on real estate activity established in that law:
- The requirement for registration or a university degree would be waived for real estate brokers. The requirement for registration with professional associations would be eliminated , allowing any "qualified" individual to engage in the activity, according to sources close to the representative. In this regard, one of the articles of the bill states: "Any registration in registries or certification systems will be voluntary and may be carried out by private entities or sectoral chambers. The National State will not intervene in its oversight or management, respecting the freedom of association between the parties."
- Professional associations would no longer be the sole regulators and judges of real estate activity. There will be competition among private entities offering voluntary certifications. For their part, those affected by non-compliance with commercial obligations may, if they so wish, resort to ordinary courts for dispute resolution.
- The activity would be permitted to be carried out throughout the national territory , eliminating the geographical restriction that existed for exercising it (the condition that a school in a certain locality authorizes it to be carried out).
- The minimum rates and fixed fees established by the Associations would be eliminated. Instead, the parties would be able to freely agree on the terms and costs of the service.
- Penalties for practicing without registration would be eliminated.
The real estate deregulation project proposes eliminating five restrictions on the activityGonzalo Colini
The representative points out that the Real Estate Freedom bill is based on evidence from more open markets, such as those in Spain, the United States, and New Zealand, which demonstrate that eliminating the aforementioned barriers "improves service quality and reduces costs for consumers." He adds that these are "fundamental steps toward a freer, more efficient, and equitable real estate market , aligned with the principles of an open society and the defense of individual rights and contractual autonomy."
The opinions of brokers in the sector were not long in coming. Marta Liotto, former president of CUCICBA (the Single Association of Real Estate Brokers of the City of Buenos Aires), recalled that the Buenos Aires real estate association was created through an initiative of the brokers themselves. She explains that it was founded in 2007 as a result of a number of irregularities in the market, such as the sale of properties that were in a hole and were unsaleable, among other things, and " we're not talking about buying shoes, but about a large investment, like a person's house ."
Other voices assert that professional associations end up becoming "bureaucratic entities that charge but don't add value," referring to the associations receiving an annual fee or a percentage of the fees that real estate agencies receive for the transactions they close. To name a few examples, in San Isidro, the Auctioneers Association receives a 6% commission on each sale of its registered agents, while CUCICBA, which has 10,000 registered real estate agents—of which 7,700 are active—charges $500,000 annually for each one.
“ Schools should update their knowledge. Previously, they were grouped by area, as they knew the students in those locations. Today, information circulates much more quickly, so a real estate agency could work in any market,” adds Lorenzo Raggio, general manager of Interwin. “What they charge isn't logical,” asserts Diego Cazes, general manager of LJ Ramos.
Beyond the need to adjust the efficiency of the schools, the brokers consulted agree that "some regulation" is important to avoid anarchy in the sector. The main concern is that deregulation will multiply the number of unprepared real estate agents operating in the industry, who end up appraising at any price and charging ridiculous fees. " It's good that the system is modernized and liberalized, but it's also key not to regress on supply issues . I mean, to prevent anyone from offering anything, without a minimum of guarantees for the client," Raggio asserts. Cazes shares this view and adds: " There must be some control to regulate the activity ."
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