Bogus property agents increasing

THE Estate Agency Affairs Board (EAAB) has seen a spike in the number of complaints from consumers against estate agents or people purporting to be such, of which most of them, upon investigating were found not to be registered estate agents.

The board said it had received almost 2 500 complaints from consumers against estate agents for the first and second quarter of this year compared to 2 000 during the same period last financial year.

The board has also received complaints from consumers who have been scammed of their rental money in situations where cons impersonate an estate agent using fake names and contact details, usually from a reputable firm only for the scammer to disappear once a consumer deposits money into their account.

The increase was because more people were becoming aware of the work being done by the EAAB, it said.

“With the festive season upon us and people preparing for next year we urge people to be careful and make sure the agent they’re dealing with has a valid fidelity fund certificate,” said EAAB acting chief executive Nikita Sigaba.

Sigaba said not all the complaints were resolved by the board since some fell outside of its jurisdiction.

“It is important to use a registered estate agent as this protects consumers in case of loss of monies deposited to an estate agent account.

‘‘By using a registered estate agent one is able to claim against the Estate Agency Fidelity Fund which is intended to reimburse persons who in certain circumstances have suffered losses due to theft of trust monies by estate agents”, said Sigaba.

“By law, estate agents are required to have a valid fidelity fund certificate issued by the board for them to practise.

‘‘We urge consumers to ask for this certificate before entering into any property transaction with anyone claiming to be an estate agent.

‘‘This will ensure that they are protected against illegal practitioners,” said Sigaba.