Bogus agents cause concern
A PARTICULAR bank has been said to be sending out emails to all their clients in terms of promoting one or two particular companies in the real estate industry.
This was revealed by the president of the Real Estate Association of Fiji Anand Goundar during their submission to the Standing Committee on Economic Affairs on the Fiji Financial Intelligence Unit 2018 Annual Report on Thursday.
“We asked them what your relationship is and then say no we just have buyers and we just sending it in a casual basis,” he said.
“The problem here is that if a particular loan officer who is sending mass emails to the bulk of his clients (bank customers), so what is the relationship between this agent and the bank officer that he is favouring.
“I have asked them to send emails for me but nobody has done it for me, so I’m just kind of suspicious here as to what is the relationship between this particular agent or three agents under the association and this bank or the bank loan officer.”
According to Mr Goundar bogus agents come from different work backgrounds outside the real estate industry, most noticeably bankers and lawyers.
“I have been approached by several lawyers that they have a client and if I sell that property they will pay me the proceeds and I have to give them back and they will term that as a consultation fee.”
He said his association was working mostly through consumer council and REALB as the latter has a memorandum of understanding with all the stakeholders.