Realtor Association of Guyana wants legislation for sector

The newly launched Realtor Association of Guyana is driving efforts to have the sector regulated through the introduction of a legislative framework, in protecting all stakeholders involved in the realty process.
President of the Realtor Association of Guyana, Chief Samsair outlined that while the real estate industry is one of the largest sectors, there is minimal regulatory structure in place.

“Our network of industry professionals aims to protect the integrity of this industry by enabling a stronger sense of accountability and professionalism within the real estate landscape. Immediately, we strive to bring realtors together to build this Association into a driving force behind legislative advancement. Our long-term strategy is to establish ourselves as the official body that liaise with all public ministries in matters pertaining to real estate in Guyana,” Samsair explained.
A legislation committee has been established, in pursuing their advocacy for real estate legislation to enhance protection for buyers, sellers and real estate agents.
“Model legislation was already submitted to the Attorney General’s office for review and consultation, with the aim of formulising a Real Estate Act of Guyana. The Membership Committee is committed to developing programmes to benefit its members across the country. We provide a platform for listing, advertising and networking with like-minded individuals within the industry.”
Samsair said the Association is also working on a course for individuals interested in pursuing a career in real estate.
Chairman of the Georgetown Chamber of Commerce and Industry, Timothy Tucker underscored that too long has the private sector and public faced corruption or been swindled by real estate agents.
“It’s important when you have this coming together of reputable persons, reputable businesses, businesses with international names forming an association so that they can protect the industry that they work in and represent. From the GCCI’s standpoint, we know this very well,” Tucker stressed.
Attorney General, Senior Counsel Anil Nandlall stated that with Guyana is one of the most sought-after countries in this part of the hemisphere, but as first-generation Guyanese to witness the transformation into an oil producing nation brings responsibilities.
“It means that the task that we have on our hands does not make us only special, but it creates upon or shoulders, a responsibility and a lot of hard work. We have to actually build this country. Every facet of this country has to be rebuilt and be modernised. We have, fortunately, the resources and developmental partnerships available to us to achieve this seminal objective,” Nandlall told stakeholders.
The AG underscored that Government is working to have a vibrant and extensive legislative agenda, and some of the current laws have already been revamped since the administration took office in 2020.
“We’re doing that in every single sector. In terms of modernising our structure of doing business in Government, we have an E-transaction Bill that we’re currently finishing off so that we can move more freely and readily to paperless transactions and systems of payment.” (G12)