Brihat Investments has concluded its sixth certified Real Estate Marketing Agents course.

“In the next 10 years, demand for proper housing units will increase so this is the right time to start investing in preparing better human resource to bridge the gap between buyers and sellers,” said chairman of Brihat Investments and coordinator of Urban Development Forum of Federation of Nepalese Chambers of Commerce and Industries Om Rajbhandary.

Rajbhandary has been campaigning for the introduction of professional and trained manpower in the brokerage business. “It will create a new profession and since transactions will be done through registered channels, the nation will not be cheated of revenues and consumers too will be saved from being conned by brokers,” he pointed out.

The six-day course was designed by Brihat Investments in affiliation with Thai Real Estate Business School (TREBS). The session speakers included real estate expert from TREBS Bangkok Dr Sopon Pornchokchai, Om Rajbhandary, professional architects, engineers, lawyers, bankers, insurers, valuators, habitat specialists and technical consultants.

The course, which officially ended on March 16, had a total of nine participants. They were educated about the fundamentals of real estate market scenario of Nepal, product selling, and legal formalities in real estate among others.

The fiscal year’s budget had announced that a provision will be introduced to settle real estate transactions through registered PAN account holding brokers to better manage transactions.

The budget had announced to permit foreigners and NRNs to purchase housing units in Nepal. Though, the policy has been introduced, the government has yet to prepare regulations and directives to implement the rule.

“Once the framework for the execution starts, the sector will need certified and educated agents to undertake transactions without hurting either buyers or sellers,” said Rajbhandary.

The government needs to develop a curriculum and take an annual examination to certify real estate agents to ensure professionalism in the real estate sector, he added.

source: The Himalayan Times, 17 March 2012