In an effort to make Fiji’s real estate and property rental market more competitive, efficient and fair, a Memorandum of Understanding (MoU) has been signed between Fijian Competition and Consumer Commission (FCCC) and Real Estate Agents Licensing Board (REALB).

The FCCC has the general responsibility of ensuring public welfare through the promotion of competition, fair trading practices and consumer protection under the Fijian Competition and Consumer Commission Act 2010 (FCCC Act 2010)

REALB is primarily responsible for licensing of real estate agents, granting certificate of approvals to salespersons who meet the criteria, provide approvals for branch managers and the location from which they are to operate from.

With the MoU in place, FCCC and REALB will work collaboratively towards enhancing competition and fair practices in the real estate and property rental market.

In this essence, both will recognise the importance of mutual consultation across a wide range of issues relevant to the real estate and the property rental market in Fiji.

Recurring issues impacting the public will be discussed in a timely manner so that appropriate measures can be taken to remedy them, improving the overall service to the public.

While signing the MoU, FCCC chief executive officer Joel Abraham said the partnership will go a long way in improving the services of the real estate and property rental market for the general public.

Mr Abraham said: “Members of the public tend to face critical issues involving substantial sum of money with regards to property rentals and FCCC has received a significant number of complaints over the years.

“Hence, such collaborative work will greatly assist in assuring consumer protection,” Mr Abraham said.

REALB acting chief executive officer, Virisila Tuimanu said that REALB will assist with the required information as and when required to provide successful implementation of the MoU and moreover promoting consumer protection.

She added that such mutual relationships with government agencies strengthens information sharing opportunities which helps in creating and sustaining a professional environment.

The MoU was signed at the REALB premises in Suva on July 31, 2018.

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