13th November 02:16 AM
REALB discovers Lawyers, Insurance Agents and Bank Officers practicing illegal activities
By Vijay Narayan
Thursday 12/09/2019

The Real Estate Agents Licensing Board has discovered that Lawyers, Insurance Agents and Bank Officers are practicing illegal activities in terms of selling and buying of properties in Fiji.

Speaking after their Lautoka roadshow, REALB Chairman Doctor Abdul Hassan says they have received complaints from the registered real estate agents and members of the public on these issues.

He says the lawyers are believed to be charging commission from the beneficiaries in addition to legal costs. Doctor Hassan says the lawyers get involved in the transactions and take it upon themselves to sell the properties.

He says the Real Estate Agents Act clearly mentions that legal practitioners cannot become real estate agents to sell properties.

Doctor Hassan says some bank officers are also involved behind the scenes where they get the potential buyers and sellers for their clients to process their loans. He says this is not the right practice as people need to have a license from REALB to get into the real estate industry.

In a recent case forwarded to REALB, a registered agent was invited by a bank officer who asked the agent to hand over his sales listing and he would find a buyer for him. In return, the officer said that he would ask for a certain percentage of commission.

Doctor Hassan says these people will be taken to task and REALB will have discussions with the Fiji Law Society, Association of Banks and the individual banks CEOs to caution their employees and members.


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