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The bill can help unleash the immense potential of the industry. PHOTO / FILE
A new harsh law is in sight, as real estate players seek to end the era of unscrupulous real estate agents and land brokers.
The 2017 bill on real estate agents, which awaits parliamentary approval, proposes harsh measures to regulate real estate agents so that they can conduct themselves professionally.
The bill also aims to strengthen public confidence in the work operations of the real estate agency in the midst of cases of growing fraud of people.
The bill aims to toughen the Estate Agents Act which states who should practice real estate agency.
The law states that no one shall perform the work of a real estate agent unless they are registered by the Real Estate Agents Registration Board (EARB).
This law has been severely violated since, out of the thousands of businesses currently operating, fewer than 500 real estate agents have been authorized to operate since the creation of the board in 1989.
The Estate Agents Amendment Bill 2017 suggests that "no one has the right to receive a commission, a fee, a payment, a reward for a service provided if the person does not hold a license under the this Act where the service was provided. "
under a name, title or style containing one of the following terms:" real estate agent "," real estate broker "," real estate agent "," real estate agent " »,« Real estate agent »,« property manager »,« rental agent », READ: Enforcing the law to attack dishonest real estate agents
The law defines a real estate agent as" a person who treats under this Act ". sell, mortgage, charge, l the management and management of real estate or real estate units of land, houses, shops or other buildings.
If the bill is pbaded, anyone wishing to obtain a real estate broker's license must hold a license. certificate or equivalent and holds a post-secondary certificate in real estate agency or certificate in a related field approved by EARB.
The applicant must also have at least one year of experience in real estate agency working in a real estate agent real estate. He must be a member of a professional body recognized by the council and meet the requirements of Chapter Six of the Constitution.
"It is illegal to hire or procure the services of unregistered persons as this is punishable by law," EARB states on its website.
James Muratha, a real estate professional, says that the proposed law, once enacted, can help unleash the immense potential of the industry.
"[The law will] improve professionalism so that consumers can get the services that they deserve, and that they are" This will encourage more investors to put their money in the market. real estate as an investment clbad. "
The law enforcement of estate agents appeared imminent early in the year. Real estate, housing and urban development, Fred Matiang announced that all real estate agents would be monitored and registered online by EARB from September of this year to streamline the housing sector.
However, three years later, Dr. Matiangi's directive has not yet been implemented and Kenyans continue to suffer in the hands of fraudsters in the industry.
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