Magazine article Journal of Property Management

Change in Spain

Magazine article Journal of Property Management

Change in Spain

Article excerpt

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Recent legislation helps property managers gain a toehold

To speak of real estate management in Spain is to speak of the Spanish Real Estate Administrators. Real estate management dates back to 1936 with the first organization located in Barcelona. Official recognition of the profession came in 1968 with the creation of the present-day CONSEJO GENERAL DE COLEGIOS DE Administradores DE FINCAS, as well as the European Directive 67/43.

The Council, an association of public law, defends and represents the interests of professionals within real estate management via delegations in the form of Professional Colleges throughout most of Spain's provinces.

In order to practice real estate management in Spain, individuals must belong to the Professional Colleges, as stipulated by a March 1994 requirement in the Constitutional Tribunal.

The Council's professional members exceed 14,000, of which more than 60 percent are practicing. The vast majority (75 percent) of real estate practitioners are male, and they have an average of 10 years experience.

Individuals interested in belonging to the Professional Colleges and entering the profession may do so by: 1) Direct access for certain Bachelor's degree holders; 2) Entry exam (currently out of use for more than 10 years) or 3) a three-year University diploma program of Real Estate Studies offered through various Spanish universities.

Spanish statutes oblige real estate professionals to extend a financial guarantee to their clients, which are generally furnished in the form of insurance and managed by college professionals.

The General Council is a member of the CEAB-Confederation Europea de Administradores de Bienes, which defends and represents the interests of real estate professionals in Europe.

Real estate professionals today have not only official recognition but also professional prestige that endows them the right to receive annual salaries comparable to those in the United States. …

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