According to legal scholars, multiple intermediaries are involved in the process of real estate transactions, each playing a central role depending on the transactional structure established within the legal system. In Iranian law, this pivotal role has been granted to notaries pursuant to Articles 22 and 46–48 of the Law on Registration of Deeds and Real properties. Nevertheless, in its most recent legislative development, the legislature acknowledged the role of real estate brokers as an actor in immovable transactions under Article 3 of the Law on the Requirements to Register Immovable Property Transactions, and sought to integrate them into the land registration system by conferring them limited authority within the framework of the said article and its executive By-laws.
This legislative approach gives rise to two fundamental questions: First, to what extent does Iranian immovable transaction regime align with model jurisdictions in recognizing brokers as central actors? Second, what transformation will the enactment of Article 3 of the above-mentioned Law and its Executive By-law bring about in the role of real estate agencies, and what challenges will it pose to the Iranian land registration system?
This study, employing a desk research method and referring to documents along with a descriptive-analytical approach, conducts a comparative study of the Nordic countries and concludes that the real estate transaction process in those jurisdictions is organized based on the principle of non-reliance on intermediaries and the legal validity of private deeds, which differs fundamentally from the Iranian system. Moreover, the adoption of such a framework within Iranian legal system would give rise to various micro and macro-level challenges that call for legislative and policy reform.