Sunday, May 19, 2024
Home > Business & Finance > EARB Warns Felonious Upcoming Associations in the Sector

EARB Warns Felonious Upcoming Associations in the Sector

The Estate Agents Registration Board (EARB) has warned illegal and felonious upcoming associations in the sector by reaffirming its commitment to uphold professionalism, ethics and transparency in the sector.

Speaking during a press briefing on Friday, EARB Chairperson Eunice Macharia warned the public to be wary of new associations and groupings from various mutations of land buying companies who have previously swindled Kenyans through the pretense of selling land.

The Chairperson said that these associations are neither regulated nor registered by the board and government citing that any person associated with them may be exposed to fraud.

Macharia said that Cap 533 of the Estate Agents clause under the Kenyan Constitution authorizes EARB to register persons who negotiate or act in relation to selling, purchasing and letting lands as well as buildings on behalf of a property owner.

“We do not need another body purporting to do our work, as this would amount to double legislation jeopardizing the registered estate agents,” remarked Macharia.

She urged the public to seek professional help from organizations such as Institution of Surveyors of Kenya who provide a variety of services in the land and property sector and are   recognized in most of the land related legislation like the Estate Agents Act, Land Registration Act and Land Act among others.

Macharia added “In the past majority lost funds to companies who often promised heaven and delivered hell, we therefore urge property buyers to be diligent in their land investments and ensure they are dealing with registered and licensed estate agents from credible sources.

She reiterated that the real estate sector plays a significant role in Kenya’s economy serving as a pillar of growth and expansion which encompasses a wide range of activities such as property sales, rentals, property management, development and valuation.

Macharia said that EARB has registered 3,000 estate agents who underwent rigorous processes to meet the necessary requirements, adhere to professional standards and comply with the code of conduct established adding that all agents of the board are published in Kenyan Gazette with their details for easy identification purposes.

She mentioned that the board is working closely with the ministry to bridge the current gap situation by pushing forward new legislative and policy amendments in the Estate Agents Bill as well as roll a massive recruitment of over 10,000 registered estate agents.

Macharia stated that EARB in collaboration with Directorate of Criminal Investigations (DCI) will carry out due diligence on the issue of titles and subdivision schemes approved by the national and county governments as well as parcels with requisite titles citing that most buyers are enticed with false schemes through marketing gimmicks and freebies.

Macharia said that the board aims to foster a culture of professionalism benefiting the industry, public and the country at large by providing guidance, training and support agents and property managers to enhance their skills, knowledge and integrity.

The Chairperson also stated that the board plays a critical role in addressing complaints and disputes arising from real estate transactions by establishing better mechanisms to receive, investigate and resolve complaints lodged against registered estate agents and property agents.

“Our existence ensures uniform standards are upheld, promote a level playing field for all industry practitioners, protect consumers and maintain integrity in the sector, Creation of parallel, unregulated and illegal associations with no basis law only lead to chaos and confusion in the industry,” said Macharia.

 By Joseph Ng’ang’a

Leave a Reply