News

Professionalism needed in the real estate sector

December 6, 2021 5:25 am

There is a need for professionalism in the real estate says Minister for Housing Aiyaz Sayed-Khaiyum.

Launching the Jokhan Realtors office in Ba, Sayed-Khaiyum highlighted there are some agents involved in illegitimate activities.

He also highlighted a World Bank Report from 2007 that one-third of the Fijian economy operates outside the law.

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Sayed-Khaiyum says real estate agents are necessary to bring accountability into the sector.

“Unfortunately, Ba and many other towns in the western division do not actually have real estate services and obviously, the reason why it does not is that there has been no professionalism in respect of real estate. It’s always good to have real estate agencies and when you have real estate agencies it means no dealing under the table.”

While acknowledging Jokhan Realtors for investing during this difficult phase, Sayed-Khaiyum says it is crucial to have such businesses.

“It’s best to engage a professional service provider than to do things on your own. It brings better accountability and ensures your compliance with FRCS and many other areas of the law. So I would like to thank Jokhan Realtors for actually taking a very brave step. Many people in fact shifted away from investing.”

Jokhan Realtors Director, Reginald Jokhan adds that despite the challenges brought about by the COVID-19 pandemic, investor confidence remains high.

He is also planning to open an office in Savusavu and Labasa.