The Rent Control Department says a Board and Council have been established to oversee the implementation of the Real Estate Agency Act, 2020 (Act 1047).
The Public Relations Officer for the Department explained that the Real Estate Agency Council (REAC) is a government agency established by the Real Estate Agency Act, 2020 (Act 1047) to regulate the real estate agency sector in Ghana.
Speaking on Nyankonton Mu Nsem on Rainbow Radio 87.5FM, he said it also has the responsibility to train, register, and license professionals, including agents, brokers, and entities while enforcing the provisions of the law, and regulate all the players in the Ghanaian real estate agency sector.
He stated that the move forms part of efforts to protect consumers’ interest in real estate transactions and ensure the public engages confidently with trusted real estate professionals.
Mr. Kporsu indicated that when this is done, it will sanitise the system and prevent agents from taking advantage of potential tenants or persons searching for accommodation or wanting to rent a facility.
‘’One of the key highlights of the Act is to regulate the activities of agents. Anyone who identifies as an agent would be required by law to undergo training, be issued a certificate, and be licensed after the training exercise. The law would also require agents to have a visible office location where the Council would come and examine them before approving their certification and licensing. With the existence of this law, no agent would operate without certification or a license. If you claim to be an agent or a borker, you should have an office.
You cannot operate as a ‘goro boy’ and be walking around anyhow. The activities of agents would now have to be credible. The agents will also have no authority to charge ten percent of the amount paid as rent by the tenant or the walking fee. All these charges would be determined by the Council. The Council is currently putting its house in order and will soon announce to the public of its operations,’’ he stated
He stressed, ‘’we realised that all these individuals parading as agents and brokers were not licensed. But because the Act is in place, you cannot operate as an agent without a certificate or a license’’.
When asked specifically when this will begin, he said, ‘’I cannot state exactly when this will begin, but all is set, and the Council will soon announce when their activities will begin. The CEO has already been appointed, and they have an office’’.
By: Rainbowraioonline.com/Ghana
