The government is planning to have all real estate agents, real estate brokers and consultants licensed by June 2021, in order to regulate the property sector.

Parliamentary Secretary for Lands and Construction Chris Agius announced a public consultation exercise on Monday morning. This will remain open until 26 March.

He said that the idea is to regulate the property sector and that the ministry has already been in consultation with numerous stakeholders  such as the union of estate agents, MDA, financial Intelligence Analysis Unit (FIAU) and MCAST.

"There needs to be a difference between estate agents, branch managers, property consultants and property brokers," said Agius. He said that all must have a licence to be able to work in the sector.

The licence will be provided to those individuals who participate in a course which will be provided by MCAST. According to Agius the course will be of level 4 with between eight and 12 of European Credit Transfer and Accumulation System (ECTs). "There will also be a board which will keep register of those employees who have a license and the licence is valid for five years."

He said that such a licence will regulate the property sector and safeguard the work of real estate agents, brokers and consultants.

The licence will become obligatory by 6 June 2021.