Most notably for consumers, agency commission will remain capped to 4% of the total value of the property for sale, the cap is however being scrapped for deals among businesses.

The argument is that this segment of the real estate market is being liberalised. Such business-to-business agreements will be governed by the general provisions of civil law.

Another novelty is the provision on exclusivity, which limits the number of real estate agencies one can hire to one per one piece of real estate.

A key new obligation for realtors is determining any potential legal issues or material damage for the piece of real estate in question. If they fail, they will carry the costs involved.

Moreover, the licensing of real estate agencies, currently in the domain of the Environment and Spatial Planning Ministry, is being transferred to administrative units.

While the senior coalition Modern Centre Party (SMC) assessed the changes primarily benefit consumers, the opposition parties were reserved or even indignant in the case of the Left, which said that deregulation as opposed to regulation had occurred.