Real Estate Advisory Council (REAC) has issued a warning to the public to watch out for fraudulent real estate agents under the pretext of selling property overseas.
The council convened an emergency press conference this week to issue out a caution which REAC chairman; Montshwari Mooketsi says it was triggered by a situation where a group of people were in the country this past weekend claiming to sell hotel rooms in Dubai.
“As the regulatory body, we were shocked, because normally any dealing with real estate matter must communicate and get permission or license from us before carrying out any activity that relates to real estate, especially sale of properties,” said REAC chairman.
Mooketsi said this group of people who are Kenyan nationals claimed to be representing a company called The First Group which is registered in Egypt.
He said investigations that were carried out revealed that there is no such company in Egypt and it turned out these people were not legitimate.
Mooketsi says it is illegal for anyone to come into the country and sell property while unregistered.
“It is a regulated industry, so, it is a very serious offence that they committed,” insisted Mooketsi, noting that the fake agents were charging people around P8 000 which allegedly was to take them to Dubai.
Though he did not have the number of people who were scammed by these agents, Mooketsi says it would appear the number is much higher according to reports they received.
He says they have engaged with Interpol to find these alleged scammers, but they have not yet located them.