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Real Estate Association holds discussion on new law governing sector
Garep members posing for a photo
Kaieteur News – The Guyana Association of Real Estate Professionals (GAREP) on Wednesday held a meeting at the Pegasus Hotel to update its members and the general public about a new Real Estate law recently passed in parliament to govern the sector.
Executives from GAREP and the Guyana REALTOR Associations were present to answer questions about the new legislation from dozens of practitioners in attendance.
GAREP had worked closely with Guyana REALTORS Association and the Attorney General’s Chambers to ensure that the law was not detrimental to the sector.
“We as Realtors, regardless of which organization we are affiliated with must work together to raise the standards and professionalism of all representatives in our field. We are not just sellers and renters of real property, we are professional advisors on property management and wealth creation in the most lucrative industry in the world”, said GAREP President Aleem Hussain while adding that, “Every agent is a representative of the industry and if one fails, it’s a stain on all our reputation so we are now in essence, our brothers keeper.”
Meanwhile GAREP’s Secretary General, Nicola Duggan, spoke of the requirements needed to be compliant with the law and warned that violations will be taken seriously by the AG’s Chambers.
Several issues that affect Real Estate agents were also raised that the meeting. The issues include registration at Guyana Revenue Authority (GRA), access to copies of transports at the Deeds Registry and banking laws that allow for the opening of escrow accounts.
GAREP promised that it will discuss the issues raised with the AG’s Chambers.
Treasurer, Sandy Harry and Assistant Secretary Treasurer, Kerron Boston informed the attendees of the benefits they can receive from joining the real estate association such training, and seminars.
Training will be provided by the Vice Presidents of two associations, Neil McFoy and Ryan Gomes.
Many welcomed the idea and signed for their membership at the meeting.
To register as a member of GAREP and attend future sessions contact can be made with Harry on cell phone number, 6927610
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