The newly established Real Estate Association will hold elections for official office-bearers at its first annual general meeting on July 2 in Nadi.
Interim committee President, Vyas Deo Sharma of Khelvin Realtors in Lautoka confirmed that positions available were that of president, three vice presidents, general-secretary, assistant general secretary, treasurer and three committee members.
The AGM will be held at Sitar Restaurant in Nadi’s Martintar on Sunday, July 2 at 10:30am, following the close of nominations on Monday, June 26.
“The objectives and purpose of the association are to act as a lobby group for the real estate industry,” noted Sharma.
These functions extend to fostering goodwill amongst Association members, representing the industry on matters affecting and ensuring that members adhere to a prescribed Code of Ethics of the Association.
“The objectives are to also do all that is possible towards maintaining integrity and honesty in the dealings of its members and work with and encourage a close relationship with other associations, Government departments, individuals and corporations involved in real estate, property ownership, management and development, building and construction, valuation and appraisal or other activity related in any way with the real estate industry,” Sharma added.
He said the Association would also apply the profits (if any) or any other income in promoting its objectives and prohibit the payment of any dividend or payment in the nature of a dividend to its members and would do all such things as incidental or conducive to attaining their objectives, or any of them.
The Association was registered in early June and agents and realty personnel from all over the country are expected to make a show at the AGM. Following the elections of office-bearers, the association is due to apply for provisions under the Government’s next fiscal year budget.
Industry watchdogs, the Real Estate Agents Licensing Board has continually pushed for the formation of a real estate agent’s association for stronger representation of their needs, and has recently concluded a series of meetings with agents in Suva, Nadi, Lautoka and Savusavu.
Discussions at these meetings covered a wide spectrum of issues and included income tax regulations, unlicensed and foreign agents conducting business locally and short-term licensing and permits for specific property sales.
The Board’s proposed Code of Ethics, a review of the Real Estate Act, the regulations of commissions and mandatory training to set industry benchmarks for upcoming agents and aspiring salespersons were also noted, alongside reminders for agents to supply their rental income reports to the Fiji Revenue and Customs Authority.
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