The Real Estate Licensing Board wants the real estate agents’ commission to be regulated as it can help bring down house and land prices.
The board’s Compliance and Monitoring Officer, Vinal Singh made these comments while making a submission on the 2017 Fiji Financial Intelligence Unit Annual Report to the Parliamentary Standing Committee on Economic Affairs.
Singh says the percentage of commission on house and land sales has to be monitored.
Singh says another factor is cash dealings in the market which do not go through the banks.
He says the Financial Intelligence Unit should look into the deals as people who deal with marijuana try to launder the money and buy property.
