Real estate agents need to be reasonable when selling properties on the market, says Dr Abdul Hassan, the chairperson of Fiji Real Estate Licensing Board.
At a recent meeting with the real estate agents in Suva last week, Mr Hassan said there had been incidences where properties were over-priced with house owners asking more than the valuation of the property.
“There were times where houses were priced at $200,000 but real estate agents promise to get a higher price and selling it at $300,000 so they could collect a higher commission.
“There are currently no restrictions to sell at such absurd prices and agents need to be reasonable,” he said.
Several real estate agents refuted the claim saying such incidences do not happen as the banks do not accept anything above the valuation of the property.
The meeting was an opportunity for real estate agents to discuss issues affecting their industry.
Credit: Matilda Simmons, Fiji Times, 06 June, 2017
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