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Saturday, July 22, 2006

Real estate agents in the spotlight

All real estate agents will have to be registered under new legislation expected to come into force before the end of the year. The comment comes as the sector standing committee on economical services closed its submissions hearing for the Real Estate Services Bill yesterday.

A number of submissions were made with many complaints lodged about real estate agents making huge profits.

After new regulations are introduced, it is expected that investment will increase especially from retirees from overseas.

A submittee suggested that laws should be implemented that would allow the buyer and seller to hold their own negotiation. Currently, the submittee said that agents increased their prices and did not give the two parties a chance to negotiate. He said that the agent's role should be to finalise the deal.

Note from GV : Foreign investors wishing to set up business or invest in Fiji can use our company, Gilbert & Samuels Company Limited, to facilitate all necessary licences, permits and approvals required for setting up. We provide other business advisory services as well. Our contacts are : telephone +679 3396427 or e-mail gilbert@connect.com.fj.

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