Real Estate brokers organise to raise standards
Seven months after an ad hoc group was formed in reaction to the imposition of G.S.T. on land transactions, today the Association of Real Estate Brokers of Belize held its first annual general meeting. Having successfully formulated a common sense approach on the tax issue, the members are now working together to assist Belmopan in the drafting of a bill to raise standards in the real estate industry. According to insiders, the real estate broker is one of the first faces that investors sees and it’s important to leave them with the right impression. In Belize this week to help the association reach the next level is Andrew Trumbach, a representative of the United States National Association of Realtors.
Andrew Trumbach, Rep, U.S. National Assn. of Realtors
“In the real estate profession, in the industry, the confidence and the public perception of confidence is extremely important. Real estate has been an economic engine for most economies in small countries and in large countries. I believe that what the Government of Belize is doing with the association is extremely beneficial to the country and it will increase not just the perception of confidence, but the consumer protection which is also important. We need to have basic competency in the profession, we need to be able to have honesty and fair dealing in the transactions, and I believe with the Government putting together a legal framework, it will benefit the entire country.”
Michael Singh, C.E.O., Century 21 Belize
“At this time, we’ve matured to a point that if we don’t get together and bring in some rules, put in some order, get some training, you’re going to have people coming in that will misrepresent the way the rules that should operate in Belize and that—I think by doing this, by having our stamp on a realtor’s website, by having our stamp on a realtor’s business card, it makes for more trust, it makes for more transparency, it makes for better trust by the government in doing business in terms of transferring land and just a myriad of other transactions that need to be cleaned up.”
During today’s meeting, Madeleine Lamont was elected as President of the Association while Hugo Moguel, Ted Napper, Stewart Krohn, and Mike Singh will serve as board members.
