ANNUALLY
11
THE COST OF COMPILING ONP STATISTICS
THURSDAY, MARCH 31, 1994
IS AROUND $9.5 MILLION
THE FIRST ROUND OF THE PLANNED SURVEY WILL BE CONDUCTED FROM OCTOBER THIS YEAR. THE FIRST SET OF GAE STATISTICS, IN RESPECT OF LAST DATA COLLECTION YEAR,
WILL BE AVAILABLE BY FND 1995. IN DUE COURSE, WILL BE EXPEDITED SO THAT BY 1998 THE RELEASE OF GNP IN 1996 WILL BE ADVANCED TO MARCH 1998.
RESPECT OF
ESTATE AGENTS WORKING GROUP ENDORSES LICENSING
ITS
SYSTEM AGENTS.
THE WORKING GROUP ON REGULATION. OF REAL ESTATE AGENTS HELD MEETING YESTERDAY (WEDNESDAY) AND ENDORSED THAT THE LICENSING SHOULD BE DIVIDED INTO THREE CATEGORIES APPLICABLE TO ESTATE CORPORATIONS AND FRONT-LINE SALESPERSONS,
MEMBERS AGREED THAT ANY INDIVIDUAL WHO WISHED TO APPLY FOR ESTATE AGENT'S LICENCE SHOULD MEET A NUMBER OF REQUIREMENTS:
HE MUST BE AT LEAST OF A MINIMUM AGE AS SPECIFIED REGULATORY AUTHORITY;
AN
BY THE
* HE MUST BE A FIT AND PROPER PERSON, E.G. HE SHOULD HAVE NO IN THE RECORD OF CRIMINAL CONVICTIONS OR COMPLAINTS THAT, VIEW OF THE REGULATORY AUTHORITY, RENDER HIM UNSUITABLE BE AN ESTATE AGENT; AND
*
HE
THE
SATISFACTION
OF
ΤΟ
THE REGULATORY
TO DEMONSTRATES AUTHORITY THAT HE HAS A GOOD UNDERSTANDING OF THE STATUTORY OBLIGATIONS OF AN ESTATE AGENT AND THE RULES OF CONDUCT PRACTICE PRESCRIBED BY THE REGULATORY AUTHORITY.
AND
A
CORPORATION THAT WANTS TO OPERATE AN ESTATE MUST OBTAIN A CORPORATION LICENCE FIRST.
AGENT BUSINESS
MEMBERS AGREED THAT THE REQUIREMENTS FOR A CORPORATION SHOULD BE:
THE
CORPORATIONS*
INDIVIDUALS;
THE CORPORATION
LICENCE
DIRECTORS
MUST
FIT
AND
PROPER
SHOULD
HAVE ITS AS
SPECIFIED
DIRECTORS A BY THE
NUMBER OF REGULATORY
ESTATE AGENTS LICENSED AUTHORITY (E.G. THE REGULATORY AUTHORITY MAY SPECIFY THAT AT LEAST HALF OF THE CORPORATIONS' DIRECTORS SHOULD BE LICENSED ESTATE AGENTS); AND
*
THE CORPORATION HAS A LICENSED ESTATE AGENT ACTING AS OFFICER IN EFFECTIVE CONTROL OF ITS ESTATE AGENT BUSINESS.
THE
:
ги
/MEMBERS ALSO