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Home arrow Real Estate News arrow General News arrow Senators urge to set criteria for real estate agents

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Senators urge to set criteria for real estate agents
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Monday, 04 September 2006

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Five years of local experience should be a prerequisite for granting a license instead of a minimum three years as stated in the Bill.

Justice of Peace and Commissioner of Oaths should not be permitted to witness or give advice on legal documents in real estate matters as this should be witnessed by solicitors only, Mr Ricketts said.

The lack of inclusion of sole traders and partnerships in the Bill should be reviewed because it was not unreasonable for them to form companies as they were small organisations with little to no staff, he said.

Mr Ricketts said a representative for the consumers should be included in the Real Estate Board but the appointment of a lawyer to a board should be challenged because legal advice should be obtained independently. Foreigners coming to Fiji should be monitored regardless of how short their stay in the country was, and even more so if their association was with real estate companies, he said.

The board and the Real Estate Institute of Fiji should be consulted before any local real estate company can enter into an overseas franchise agreement in an effort to protect the local industry, Mr Ricketts said.

The Fiji Trades and Investment Board should consult with the board and the REIF before granting an approval to overseas investors in the real estate business to protect and help against money laundering, he said.

 

Edwina Baniqued

 
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