Illegal activities rise in real estate sector
August 15, 2019 7:17 am
Illegal activities in the Real Estate sector are on the rise as millions of dollars’ worth of complaints being received.
Consumer Council Chief Executive Seema Shandil says over twenty-five, complaints have been received by the Consumer Watchdog and Real Estate Licensing Board.
“Both agencies have recorded a combined $42 million worth of complaints and if you look at our complaints that the consumer council has received since 2018 to this day, it’s around 25, worth $ 320,000”
REALB Compliance and Monitoring Officer Vinal Singh says Fijians engaging real estate agents need to go through documents thoroughly before agreeing to it.
“Our real estate agents sometimes they fail to educate the clients what is written in the contract and what will happen if there is any disclosed default and what will happen to the refunds of deposits so those are the major things complaints we receive at REALB”
Bogus agents are also a major concern and according to REALB, at least sixteen cases have been referred to the Police.
A joint awareness program will start in Taveuni on Monday.