Real estate agents under scrutiny over inflated prices, deposit disputes
Licensed real estate agents were reminded that under the Real Estate Agents Act 2006, they must act honestly, fairly, and in the best interests of their clients.
Friday 01 August 2025 | 01:30
Real estate agents are under the spotlight after the Consumer Council of Fiji received complaints about overpriced property listings and dubious deposit practices.
Laiseana Nasiga
Real estate agents are under the spotlight after the Consumer Council of Fiji received complaints about overpriced property listings and questionable deposit practices.
The council raised concerns about agents advertising properties well above their official valuations, creating confusion for buyers and potentially distorting the market.
In one case, a consumer paid a $5,000 deposit for a property listed at $170,000 but an independent valuation revealed the property's true market value was only $135,000 - a discrepancy of $35,000.
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When the consumer chose not to proceed with the purchase and requested a refund, no full refund was issued.
Instead, the real estate agent offered only a partial refund and transferred the deposit to a solicitor’s trust account without the consumer’s knowledge or consent.
The solicitor claimed part of the funds were retained for legal fees, yet no agreement authorising such deductions had been signed.
Houses are currently listed for $850,000, $500,000, $340,000 and $250,000 across the Suva-Nausori corridor on social media platforms, the Fiji Sun found.
Consumer Council chief executive officer Seema Shandil said the case raised valid questions about ethical conduct and pricing practices in the real estate sector.
“If buyers are not advised to verify property prices independently, and if there are no safeguards ensuring fair refund of deposits, we risk creating an environment where consumers feel pressured into transactions that are not in their best interest,” she said.
Real estate agents reminded
Licensed real estate agents were reminded that under the Real Estate Agents Act 2006, they must act honestly, fairly, and in the best interests of their clients.
The council urged prospective buyers to obtain independent valuations from licensed professionals before committing to any property purchase.
Questions sent to Real Estate Agents Licensing Board registrar Peni Komainavoka went unanswered when this edition went to press.
Feedback: kaneta.naimatau@fijisun.com.fj
