Christos Nicolaou, the president of the Cyprus Real Estate Agents Association (Skek) and a candidate for the Cyprus Real Estate Agents Registration Council (Sek), has publicly challenged the long-standing leadership of incumbent president Marinos Kineyirou over allegations of “institutional stagnation” and transparency issues ahead of the upcoming elections.

“Twelve years of continuous presidency and a prospect of 15 years without institutional limits” were cited as primary points of concern by Nicolaou, who serves as the challenger for the elective seat.

“The announcement of elections in December, while the current term is officially set to expire on April 12, 2026,” was questioned by the Skek president as a tactical move.

Moreover, “allegations regarding the non-renewal of professional licences without court decisions, leading to the deprivation of voting rights,” were raised as serious procedural grievances by the candidate.

“Unilateral interpretations of the law affecting part-time employment and the payment of staff through commissions have created significant hurdles for the industry,” Nicolaou stated.

The association head also stated that “the operation of large real estate firms and the management of their staff are being unfairly impacted by current council policies”.

Nicolaou also critisised the launch of the electronic platform for license applications.

He said that it should “legally open in October” but is now scheduled to open in January of the following year, noting that this is causing delays that reportedly “deprive agents of their right to collect commissions”.

“On what legal basis was it unilaterally decided that real estate agents do not have the right to work on a part-time basis,” the candidate asked of the current council leadership.

Furthermore, “the desire to limit the number of employees in large real estate offices” was described as a position that “contradicts the principles of a free economy and a competitive business environment”.

“Such practices have contributed to driving hundreds of individuals into illegal real estate brokerage instead of working legally for licensed agents,” Nicolaou suggested in his critique of the council’s current direction.

“The Cyprus Real Estate Agents Registration Council has achieved significant liquidity surpluses and investments” during the current presidency, but the candidate questioned the exact amount of these surpluses and why they are not being used to benefit the members.

In addition, “the lack of a professional indemnity insurance plan for all licensed real estate agents” was highlighted by Nicolaou as a failure to utilise the council’s financial resources effectively.

The absence of a pension fund or a welfare fund for members was also noted as a missed opportunity given the reported financial strength of the council.

“The 12-year tenure of the president has seemingly not allowed for the modernisation of the council’s structure,” Nicolaou stated, while calling for a more inclusive approach to industry governance.

“Transparency and professional accountability must be at the heart of the regulatory body,” the Skek president added.

Earlier this month, the Cyprus Real Estate Agents Association (Skek) called on the House internal affairs committee to urgently examine and vote on a legislative proposal it has submitted to reform the Real Estate Agents Law of 2010, arguing that the framework is outdated and enables abusive practices.

Skek said the proposal seeks to modernise the law, curb what it described as “excessive powers” held by the Real Estate Agents Registration Council and support a healthier, more competitive market.

In its announcement, association head Nicolaou urged parliament to act before the end of the current term and reiterated the association’s willingness to engage in dialogue to “ensure transparency and professionalism in the sector”.

Meanwhile, in a related development, the Cyprus Real Estate Agents Registration Council itself has previously warned that “illegal brokerage remains widespread“, with hundreds of people defrauded in recent years and an average of three to five criminal cases now being registered each day.

Since 2023, the council has filed 565 criminal cases involving fraudulent property sales, rentals and commission scams, with convictions publicly listed for awareness.

Furthermore, council president Kineyirou has stressed a zero-tolerance approach and said inspection teams have been strengthened across all districts to identify illegal activity at its source.

Relatedly, in an incendiary statement released on December 8, the Cyprus Real Estate Agents Registration Council claimed it has received threats from criminal elements linked to a complaint over the alleged promotion of Greek Cypriot properties in the north, including warnings to withdraw the case and not stand in the December 20 elections.

The council said the threats, some of which were recorded, have been reported to the police and raised concerns both ethical and legal, citing potential breaches of anti-money laundering laws.

According to the council, the threats were delivered by someone who was evidently acting on behalf of a real estate agent who has been accused of “unethical and illicit dealings” with developers in the north.

The accused agent, who subsequently emerged to be Skek president Christos Nicolaou, denied the allegations and accused Kineyirou of running a smear campaign.