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Estate agents watchdog blacklists 79 operators

by Staff reporter
25 Sep 2020 at 07:52hrs | Views
THE Estate Agents Council (EAC) has blacklisted 79 estate agents dotted across the country for operating illegally. Among other requirements, estate agents should register with the EAC prior to trading as well as acquire compensation fund certificates.

The EAC on Thursday gave a list of illegal operators and advised members of the public that such entities were not allowed to trade in the property sector in Zimbabwe.

The move comes at a time when several people have been duped through clandestine property deals.

Among the blacklisted estate agents operating illegally are Afrikingdom Real Estate, Phoenix Real Estate, Assorted Properties, Beanpole (Pvt) Ltd, Bevkin Real Estate, Brook Cherity Realty, CMC Property Managers and Portreal Africa Real.

"Members of the public are hereby notified that the following entities and individuals who are illegally practising as estate agents are not allowed to trade in estate agency business in Zimbabwe including assisting in selling and management of properties," said EAC in a public notice.

"These entities or individuals have not complied with various legislative requirements for practicing, which are meant to protect the public."

Such requirements, the regulator said, include having in place a principal registered estate agent (PREA).

"We advise the public not to engage these entities for estate agency business. The Estate Agents Council and Compensation Fund will not accept liability for actions or omissions of these entities or individuals," it said.

Source - chroncile