Cyprus property market: illegal real estate agent exposed

Real estate agent council determined to safeguard profession from illicit practices

In what was described as an “unbelievable incident” exposing the audacity of illegal property brokers, a woman, posing as a real estate agent, approached the president of the Cyprus Real Estate Agents Registration Council, Marinos Kineyirou, seeking collaboration.

According to an announcement by the council, the woman initially contacted Kineyirou in order to request permission to access a villa with a swimming pool, owned by his company, located along the Larnaca-Dekelia road. She claimed that she wanted to show the property to potential buyers.

Upon recognising the illegitimate nature of the request, the announcement added, Kineyirou refused and reported the incident to initiate criminal proceedings against the woman.

However, despite his rejection, the involved party persisted and sent a written message to Kineyirou, stating that “if the reason you are not selling the property is that you want a commission, there’s no problem”.

The message continued by promising to “divide and share the commission” with Kineyirou.

“The clients are very eager to buy the property, and it would be a shame to miss this opportunity,” the message added, noting that “it all depends on you”, in reference to the council president.

The council explained that this incident has brought to light other concerning aspects, revealing that the woman in question had previously faced accusations of illegal real estate agency activities.

Moreover, a court in Cyprus recently issued a temporary injunction against her from conducting any real estate agency activities until the resolution of her case.

Despite this order, inspectors from the Real Estate Agents Registration Council found that she continued her activities undeterred.

Kineyirou stressed that “this particular case proves that illegal real estate agency practices have not ceased despite the intense and coordinated efforts we make as the council to combat them”.

“We once again appeal to our fellow citizens, interested in buying or renting property, to first and foremost seek the protection of licensed real estate professionals,” he said, noting that the council’s online platform, offers a wide range of properties across Cyprus, exclusively posted by licensed real estate agents.

“As the responsible association, we will continue our efforts to combat this phenomenon and call upon all licensed real estate agents and citizens to unite in a protective alliance for our profession and to combat illegality,” Kineyirou stated.

“At the same time, we must emphasise that we will be uncompromising in dealing with licensed real estate agents found collaborating with illegal actors,” the council president concluded.