FAKE realtors throughout Zimbabwe are using various media platforms to advertise houses for letting and sale and fleece innocent Zimbabweans in the process.
These unscrupulous elements are also conniving with fake lawyers to trick unsuspecting homeseekers.
Tichamurai Machetu of Zengeza 5, Chitungwiza, was recently arraigned before Chitungwiza Magistrate Court and charged with violating section 60 of the Estate Agents Act [Chapter 27:17], which provides for offences by or relating to persons operating illegally as estate agents.
Machetu used plaques to advertise houses for rent and for sale in the domitory town of Chitungwiza.
He also charged a non-refundable US$15 brokerage fees to accompany homeseekers to view the advertised houses.
Henry Masvimbo was recently indicted in the Masvingo Magistrate Court for illegally operating as an estate agent.
He used social media platforms, especially Facebook and WhatsApp, to advertise houses for rent and for sale.
Masvimbo was ordered to pay $50 000 or spend three months in prison if he failed to pay.
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Bogus realtors use various tricks to lure homeseekers and the Estate Agents Council of Zimbabwe (EACZ) is thus advising people to only deal with reputable estate agents to protect their investments.
EACZ was established as a regulatory body in the 1970s in terms of the Estate Agents Act [Chapter 27:17] to register real estate agents and control the practice of estate agency in Zimbabwe.
Its duties are outlined in section 4 of the Act and include the registration of persons practising as estate agents in Zimbabwe, as well as exercising disciplinary powers over estate agents and agencies.
EACZ further ensures that the standards of competence and conduct of estate agents in Zimbabwe are high to protect the public on top of managing the compensation fund, which is managed by EACZ in terms of sections 37-50 of the Estate Agents Act [Chapter 27:17].
EACZ chairperson Nico Kuipa confirms that the compensation fund acts as insurance where members of the public are compensated in the event that they suffer a loss as a result of doing business with a registered estate agency.
“The compensation certificate is very important and practising without it is illegal and can be punished with a hefty fine or disqualification from real estate practice.
“On the 30th of June, 2022, EACZ released a list of 20 individuals and 70 estate agencies that were banned because they were operating without compensation fund certificates.
“These individuals and agencies are prohibited from managing or selling properties until they are compliant,” he said.
The public is, therefore, encouraged to check for the current-year compensation fund certificate provided by EACZ to uncover fake realtors.
This certificate is issued annually under the company’s name, and includes the name of the principal registered estate agent.
Estate agencies must display the compensation fund certificate at their office reception.
In addition, members of the public have the right to request the PREA’s registration certificate or visit the firm’s physical address or call EACZ on +263242746356 to verify the registration details of estate agents and agencies.
Most Zimbabweans are losing their hard-earned money to fake agents. Accordingly, EACZ encourages the public to avoid dealing with bogus realtors no matter how tempting the deal may be.
- Lazarus Sauti is a research and publicity officer for the Estate Agents Council of Zimbabwe. He can be reached at [email protected]
