The real estate industry plays a critical role in ensuring the proper disclosure of property information when it is listed for sale.
These were the sentiments shared by the Fiji Roads Authority (FRA) Manager Asset, Mr Eric Singh during the Real Estate Agents Licensing Board (REALB) Talanoa Session, held at the Grand West Villas on Wednesday, March 29, 2023.
While addressing the attendees, Mr Singh said real estate agents are responsible for ensuring that all relevant information are communicated to property buyers during viewing and prior to confirming the buyer.
These include technical information on land development such as road widening, restrictive covenants, building line restrictions and easements, common access and access easement, and the development of private roads.
“Real Estate Agents need to ensure that property buyers are aware of any development restrictions on the property, its impact on the road network at the same time follow proper subdivision processes to ensure that new developments are safe and sustainable. By doing this, the buyer is well-informed about any restrictions or limitations on the property and can make an informed decision,” Mr Singh said.
Mr Singh urged real estate agents to familiarize themselves with the proper subdivision processes such as obtaining the required approvals from relevant authorities, adhering to zoning and building regulations, and ensuring that all necessary infrastructure such as roads, drainage and utilities are in place and to seek expert advice where necessary.
He says that while real estate agents act to deliver results for the vendor, this should never be at the expense of ensuring safety and compliance for the industry.
“By following correct procedures, real estate agents can help create a sustainable and thriving environment and community that benefits everyone,” Mr Singh said.
The FRA has pledged to work closely with real estate agents and the REALB to ensure that developments in Fiji meet the highest standards of safety and sustainability.
For more information/details, please contact REALB on their website:www.realb.org.fj, email: firstname.lastname@example.org or call 3300355.