Estate Agents & Valuation
*The estate-agency sector in the Balearics — including the verified registration requirement — plus the three values of a property.*
Estate Agent (Agente inmobiliario / API)#
API (Agente de la Propiedad Inmobiliaria) is the historically protected title; today, in principle anyone may broker property — but the Balearics have introduced a registration requirement.
Registration requirement Balearics ✅ — Ley 3/2024#
🔎 Correction: The correct rule currently in force is Ley 3/2024 de 3 de mayo, de medidas urgentes en materia de vivienda (disp. adic. 13ª/14ª; BOE-A-2024-15575) ✅ — not a “Decreto 12/2023". Its predecessor was the repealed Decreto-ley 6/2023.
Registro de Agentes Inmobiliarios de les Illes Balears(DG Habitatge).- Registration (one option suffices): a university degree or ≥ 200 hrs of training or
≥ 4 years of professional experience.
- Obligations: professional liability insurance (€100,000 per claim / €600,000 per year), guarantee/deposit
(€60,000/year).
Takeaway: Check whether the agent is entered in the Balearic register.
Commission (Honorarios)#
Typically 3–6 % + 21 % IVA; as a rule the seller pays (whoever places the instruction). The German 50/50 “party who orders pays" principle does not apply to Spanish properties. Agency agreement = nota de encargo (possibly exclusiva = sole agency). MLS in Mallorca operates, among others, via ABSI (commission sharing).
The three values of a property#
| Value | Set by | Function |
|---|---|---|
valor catastral | Cadastre (administrative) | Basis for IBI; well below market value |
valor de referencia | Cadastre (from real sales) | Basis for ITP/AJD/ISD (→ Ch. 04) |
valor de mercado | Supply & demand | actual purchase price |
Tax rule: For ITP/AJD, the higher of the purchase price and the valor de referencia is taxed (contestable by expert appraisal, STC 13/2026 → Ch. 04).
Sources (selection)#
- Ley 3/2024 (BOE-A-2024-15575), disp. adic. 13ª/14ª · CAIB (Registro Agentes)
- Sede del Catastro (valor de referencia) · STC 13/2026 → Ch. 23