The Zimbabwean government is moving forward with plans to amend the Estates Agents Act in a bid to crack down on fraudulent practices and protect consumers from bogus real estate agents. This comes as the country faces a growing problem with unregistered agents and unethical practices in the real estate sector, which have led to numerous cases of fraud and misrepresentation.
According to government officials, the proposed amendments aim to tighten regulations and introduce stricter penalties for those operating without proper licensing or engaging in fraudulent activities. The amendments will also focus on improving transparency and accountability within the industry, ensuring that all registered agents adhere to a standardized code of conduct.
Minister of Justice, Legal, and Parliamentary Affairs Ziyambi Ziyambi stated that the changes are necessary to restore public trust in the real estate market. “We have seen an increase in complaints from the public regarding fraudulent real estate transactions, and it is clear that the current legislation is not sufficient to address these issues,” Ziyambi said during a recent press briefing. “The amendments we are proposing will provide better oversight and ensure that all estate agents operate within the law.”
Under the new regulations, all estate agents will be required to undergo a more rigorous vetting process to obtain their licenses. This includes comprehensive background checks and mandatory training to ensure they are qualified and capable of providing reliable service to clients. The amendments will also introduce harsher penalties for those found guilty of fraud or operating without a license, including substantial fines and potential jail time.
The proposed changes have been welcomed by many in the real estate industry, who believe they will help to weed out unscrupulous agents and elevate the profession’s standards. “As legitimate estate agents, we fully support any measures that will help protect our clients and maintain the integrity of our industry,” said a spokesperson for the Estate Agents Council of Zimbabwe (EACZ). “These amendments will help create a level playing field and ensure that only qualified and ethical agents are allowed to operate.”
However, some have raised concerns that the new regulations could place additional burdens on small estate agencies, particularly those in rural areas. “While we agree that stricter regulations are needed, we hope the government will consider the challenges faced by smaller agencies and provide support to help them comply with the new requirements,” said a representative of a small real estate firm in Harare.
Consumer rights advocates have also expressed support for the amendments, noting that they will provide greater protection for individuals buying or renting property in Zimbabwe. “The real estate market has been a minefield for too long, with many people falling victim to scams and dishonest agents,” said a spokesperson for the Consumer Council of Zimbabwe. “These changes will help ensure that consumers can have confidence in the agents they are dealing with and that their rights are protected.”
The move to amend the Estates Agents Act is part of a broader effort by the Zimbabwean government to enhance regulation and oversight across various sectors. In recent years, the government has introduced several reforms aimed at improving governance and combating corruption, as it seeks to create a more transparent and accountable business environment.
As the proposed amendments go through the legislative process, there is hope that they will help to restore confidence in Zimbabwe’s real estate market and provide a more secure environment for property transactions. With better regulation and oversight, the government aims to protect both consumers and legitimate estate agents, ensuring that the industry operates fairly and transparently.
Source: New Zimbabwe
