The Conditions for Receipt of a Brokerage License
Under Section 5(a) of the Brokers Law an applicant for a brokerage license must satisfy the following conditions:
- He must be a citizen or resident of the State of Israel or a foreign resident who has received a lawful permit to work in Israel.
- He has attained the age of 18.
- He is not a bankrupt.
- He has not been convicted of an offence involving moral turpitude in the five years preceding submission of the application.
- If he has been sentenced to a term of imprisonment, including in respect of an offence that is not one of moral turpitude, he has finished serving it at least three years prior to submission of the said application.
- He has passed the examination prior to receipt of a real estate broker's license.
Registration for the Land Laws Examination
The examination for a brokerage license is held four times annually, once every three months. The Registrar of Brokers publishes a press release announcing the date of the examination and registration for the examination.
In order to sit the examination you must complete the registration form and pay the fee payable for the examination. There are two ways of completing the form and paying the fee:
- Via the website: you may pay the fee for the Land Laws examination through the website. In the payment process you will be asked to complete the registration form and upon conclusion - it will be sent direct to the Registrar of Brokers.
- Through the mail: you can send an application by mail to the Registrar of Brokers, or by fax or electronic mail detailing your name, address, and your wish to sit the examination. The Registrar of Brokers will send you the examination registration form and payment voucher by mail for payment in the Postal Bank. You must send to the Registrar of Brokers, the completed form, the payment voucher bearing the Postal Bank's rubber stamp and a photocopy of your identity card.
Within 30 days of the date of the examination you will receive notification from the Registrar of Brokers as to whether you have passed or failed.
- If you have failed the examination you may lodge an appeal against the examination grade within 30 days of the date on which the Registrar sent out notification of the result of the examination. The appeal must be in writing and sent to the Registrar of Brokers in the mail only. Appeals sent by fax will not be accepted.
- If you have passed the examination, in other words, you obtained a grade of 60 points or higher you will receive notification to that effect from the Registrar of Brokers together with a form of application for a Brokerage License.
Submission of an Application for a Brokerage License
A form of application for a Brokerage License will be sent to those who pass the examination.
- You must complete the application form for the license and send it by mail only to the Registrar of Brokers.
- After the details on the form are examined and are authenticated with the certificates of good character department at the National Police Headquarters and with the Official Receiver - the Registrar will decide whether to approve your application for a license. If you are found to be fit to hold a license notification to that effect will be sent to you together with a payment voucher fora one-time fee for a first license which may be paid via the website or at any branch of the Postal Bank.
- If you have paid via the website - confirmation of payment will be sent direct to the Registrar of Brokers.
- If you have paid in the Postal Bank - you should send the stamped payment voucher to the Registrar of Brokers by mail.
- Following receipt of confirmation of payment a license will be sent to you by registered mail.
Those who wish to have the license with a photograph should enclose their photograph with the payment confirmation and send it to the Registrar of Brokers from January to March 31 of each year. Those paying after that date will be issued with a plastic card without a photograph.
Maintaining the validity of the Brokerage License
In order to ensure validity of the license you must check that you still meet the conditions for receipt of the license:
- You must be a citizen or a resident of the State of Israel or a foreign resident who has been issued with lawful permit to work in Israel.
- You are not bankrupt
- You have not served a prison sentence since a Brokerage License was issued to you.
You must update the Registrar of Brokers of any change of address or other personal details. The updated details should be sent to the Registrar of Brokers, POB 34357, Jerusalem, 91342.
Make sure that you pay on time the annual renewal fee that the Registrar of Brokers sends to you, namely by March 31 each year. You can pay the fee either via the website or in the Postal Bank.
If you have not paid the fee in time, you may not act as a Real Estate Broker. The license will only be renewed after you pay the fee with the addition of interest and linkage, under Section 18(b) of the Adjudication of Interest and Linkage Law, 5721-1961.
So as not to give rise to a situation in which you are working as a Real Estate Broker without a valid license, you must make sure that you are in possession of notification from the Registrar of Brokers of renewal of the license at the beginning of each year.