The Coalition Government has repealed the 2 per cent cap on commissions charged by real estate agents on properties below $500,000.

 

Minister for Trade and Commerce Manoa Kamikamica revealed this in his address at the 5th National Real Estate Conference.

 

He made the revelation as he reaffirmed the Government’s commitment to the growth and prosperity of the real estate industry.

 

“This decision marks a pivotal moment that amplifies our unwavering support for the real estate industry and its vital role in shaping our nation’s economic landscape,” Mr Kamikamica said.

 

“Let me reiterate, this does not absolve you from being responsible to your clients and the people of Fiji.

 

“The REALB, the Consumer Council and the Fiji Consumer and Commerce Commission will still monitor the agents and the transactions you make with a view to protecting consumers, especially the vulnerable.”

 

The new change came into effect on February 1.

 

Source: FIJITIMES.COM.FJ