RANOBA BAOA
suva
Real estate generally tends to be a cyclical industry. It goes up and down based on trends in the economy.
For instance, changes in the interest rates; if it goes up, the industry goes down and if interest rates go down, then the industry goes up.
But this is one industry which is constantly under scrutiny, not only in Fiji, but world over. This is despite generating billions of dollars of revenue worldwide.
In Fiji, there are 113 real estate agents and 100 agents. The Real Estate Licensing Board (REALB) was established as a Government statutory body in 2008 under the Real Estate Agents Act.
Their role is to regulate the real estate industry in Fiji. It is working towards enhancing the real estate industry in terms for support creating more awareness for the real estate market.
REALB chief executive, Ravinesh Murti, says agents should appreciate all the good work being done by REALB and they are reaping those benefits now.