Komainavoka is newly appointed registrar
Peni Komainavoka is the new registrar for the Real Estate Agents Licensing Board (REALB).
He said he will build on the digitisation platform of the board to improve service delivery.
REALB is the regulating and policing body of the real estate industry.
“We will work towards allowing access to affordable housing, in collaboration with the Fijian Competition and Commerce Commission and the Consumer Council of Fiji,” Mr Komainavoka said.
“We have a few memorandums of understanding in place we’re working on in the interest of sharing information.” Mr Komainavoka’s appointment is full time.
He has 17 years of experience in the transport sector having worked with the Land Transport Authority (LTA) in various roles.
His qualifications include a masters degree in engineering majoring in transport planning and management, a bachelor of commerce, a degree on economics and management, and a diploma in business studies.
Mr Komainavoka said there was a parallel role between the work cut out for him under his new appointment and his previous role in LTA.
“It’s the same function, applied in a different area – same principle.
“My previous role was licensing of public transport, now its licensing real estate.” REALB chairman Abdul Hassan said Mr Komainavoka’s appointment was based on his experience, capabilities, and vision to move forward the real estate industry.
Rental discount
Mr Hassan said REALB had no powers or role on the matter of rental discounts, instead referring all queries to FCCC. Sunbiz sent queries to FCCC.
Mr Hassan said REALB agents were directed to raise concerns with FCCC.
He said properties within the lower bracket - $350,000 to $500,000 were the most sold properties following COVID-19.
“Statistics in recent months have revealed in June the sale of 106 properties – all to the tune of $23.5 million,” Mr Hassan said.
“Before that, 110 properties were sold with a collective sum of $37.9 million. “However, it’s all lower end properties that are being sold.”
New market emergence
Mr Hassan said a new market had emerged with more people interested in the purchase of farm land.
He attributed the trend to the impact of COVID-19 and the number of people who became unemployed as a result. Meanwhile deputy vice chairman Hermant Kumar said the industry was marred with bogus agents and mischievous agents. “The mischievous agents are the ones that don’t comply with the Real Estate Agents Act; they make promises but don’t deliver.” Mr Hassan said the board was working to change governing provisions within the Act to allow them more powers to prosecute bogus agents.
Close to 20 bogus real estate agents were taken to task recently following a spate of events
The board continues its media campaign against bogus agents.
“The consumers need also to take care about who they are entrusting with their money,” Mr Kumar said.