Weekly Real Estate News
The Turkish government has launched a crackdown on fraudulent real estate advertising, with an initial haul of $3.36 million in fines against 1,158 real estate businesses.
Turkiye Today reports the government has begun using an electronic listing verification system designed to affirm the identity and authorization of listing owners while pinpointing fake profiles and unauthorized brokers. The government is also using an electronic listing information system to strengthen public oversight on the current listings.
Turkish real estate expert Emir Pakkan observed the new safeguards have effectively blocked unlicensed brokers from doing business while fewer fake ads have gone online. Pakkan noted that prospective buyers can now “carry less of the worry ‘Is this listing real?’”
