Rosfinmonitoring and Realtors: New Steps Towards Transparency in the Real Estate Market

A strategic meeting took place in St. Petersburg between Valery Vinogradov, a representative of the Russian Union of Real Estate Market Participants (president of the company "AVENTIN"), and German Shatsky, head of the Interregional Directorate of Rosfinmonitoring for the Northwestern Federal District.

Key discussion points:

1. Regulation of real estate activities

- Increasing the effectiveness of interaction between professional market participants and Rosfinmonitoring

- Developing mechanisms to distinguish legitimate realtors from illegal operators

- Strengthening control over real estate transactions

2. Ban on cash transactions

The Russian Union of Real Estate Market Participants proposed a complete ban on cash payments in real estate transactions. This would allow:

Reducing the risks of fraudulent schemes

Increasing the transparency of transactions

Simplifying the monitoring of cash flows

3. Adjustment of the reporting threshold

V.N. Vinogradov proposed revising the current limit of 5 million rubles for mandatory reporting by realtors to Rosfinmonitoring:

- The amount does not correspond to market prices in major cities

- Adaptation to the current value of properties is required

- It is necessary to eliminate opportunities to bypass control

Prospects for cooperation:

The parties also agreed to continue the dialogue at the Baltic Interregional Real Estate Forum in Kaliningrad, where the following will be discussed:

- Practical mechanisms for implementing initiatives

- Issues of improving the regulatory framework

- Experience of interaction with the professional community

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The event underscores the importance of joint efforts between the regulator and the professional community to create a civilized real estate market.