Fiji real estate market has gone through many ups and downs.
For the past few years, the COVID-19 pandemic has affected the sales and demands of the real estate.
Not just the pandemic, but the real estate businesses have also witnessed other issues related to tenants and property selling.
Real Estate Agents Licensing Board (REALB) Registrar, Peni Komainavoka said some of the issues they received were regarding the bogus agents, disclosing full information about properties, landlord and tenancy issues with the involvement of real estate agents or salespeople.
“Our complaints investigation and resolution process require complainants to submit proper evidence with their complaints before we proceed with the investigation,” he said.
“This also includes getting responses from the complainer and parties involved in the case.
“The Compliance officers will consider all the information submitted and ensure that it is thoroughly investigated. We will also liaise with the other agencies as part of the investigation.”
He also said the Compliance team would then submit a detailed report of the complaints to the Registrar and the Board for a decision, on the way forward in dealing with such matters and the outcome were communicated to the parties involved.
“The Boards decision may include imposing conditions on a license issued under the Act as the Board deems necessary.
Complaints that involve other statutory bodies shall be referred to them for appropriate action,” Mr Komainavoka added.
He said REALB was mandated to oversee the licensing of real estate professionals and the disciplinary aspect, for those in breach of the Real Estate Agents Act 2006.
“We always work towards promoting professionalism and fairness within the industry,” he said.
New norm
Mr Komainavoka said the real estate agents’ quick transition under the new norm had allowed the real estate sector to progress, as the economy recovered and continued to make headway.
“Some agents had transformed their approach, by incorporating the traditional strategy of property advertising through the mainstream media with an increased online presence, in the social media space, as well as enhancing their website capacity for a more global reach,” he said.
He said the boost in Fiji’s economic activity was evident in the picking up of property sales, which had increased in the first three months of this year, compared to the same period in the previous two years.