Transparency of the Real Estate Market in Moldova

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Simultaneously while their colleagues were presenting in Nis, Serbia on behalf of IRPF and the Central European Real Estate Associations Network, CEREAN, (March 25-27, 2015), IRPF consultants Dan Negulescu and Sorin Udrea also provided a successful workshop and training program in Chisinau, Moldova; the program was entitled: “Transparency of the Real Estate Market in Moldova,”  and approximately 90 people, including real estate agents and appraisers, attended.

On the first day of the program, Negulescu and Udrea engaged in a five hour meeting with local organizers and hosts to tie the work IRPF has already done in Eastern Europe with the needs of the local real estate market.  This meeting also allowed our consultants to get an idea of the how the local markets and practices operated and see where certain methods can be utilized.

The following day was split into two, two hour, sessions.

The first session juxtaposed the Moldovan real estate market with the Romanian real estate market in 2013-2014, and presented the Romanian Multiple Listing Service (MLS) Market Report and Index (post its release in February 2015). Using MLS and The National Association of REALTORS®, NAR, methodology, the Romanian MLS Market Report and Index showcased the benefits of an organized real estate market, Code of Ethics, and professional real estate practices. During this session, our presenters took the time to express the great support that NAR, IRPF and CEREAN gave to the Romanian community.

Also high-ranking officials such as the Nistor Grozavu, Deputy Mayor of Chisinau; Anatolie Ghilas, General Manager of the Land Registry in Moldova; and Vasile Bitca, Minister of the Regional Development and Constructions also attended this first session.

The scope of the second session focused on the history and benefits of NAR international involvement; with this, CEREAN and IRPF’s role in supporting organized real estate markets in Eastern Europe was outlined.  Negulescu centered the session on the benefits and importance of the Code of Ethics, CEREAN MLS Program principles and structure, as well as the need for a transparent and productive market.

On the last day of the program, Negulescu and Udrea scheduled a follow-up meeting with their Moldovan peers.  This meeting allowed for ideas to be exchanged, and start an action plan to be put into place. Ideally the next steps would be implementation of a full agency and courses designated to thoroughly explain the CEREAN MLS Program.

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