Illegal real estate agents increasing in Zambia

A real estate expert has lamented over […]

A real estate expert has lamented over the lack of stringent measures to curb the escalation of illegal agents, claiming they are depriving actual players of business. The Zambia Institute of Estate Agents (ZIEA) has declared war against the illegality, but stakeholders have observed with concern that the measures are limited to curb the escalation.

 Speaking in an interview with the Zambian Business Times (ZBT), Maroon Estates Limited Sales and Rentals Executive Kunda Mapoma also observed the lack of sensitization for the land owners who he claimed are actively supporting the unregistered agents.

“The restrictions surrounding the illegal agents are not enough, because wake up and start engaging in the business without the due procedure of obtaining a license from the Zambia Institute of Estate Agents (ZIEA).”

He lamented that most of the illegal agents are not considerate of the pricing and even charge less, which is draining the business for actual agents.

“The one thing is killing our business is that whatever commission they are given, they don’t care; for instance, they even charge K500 when it should be K3000, and landlords opt to work with such for the sake of earning a profit, and they don’t even ask for licenses; they go to cheaper agents,” he added.

According to the latest report from ZIEA, there are about 200 registered agents and more than 50 registered agencies, short of meeting the demands of the ever-growing market.

Article by Samuel Muta