By Andrew Batt:
The real estate industry on the Indonesian island of Bali is calling for stern action to be taken against the growing number of unregistered sales agents – many from Singapore and Malaysia – who are flocking to the island to sell property.
According to several local media reports, The Indonesian Association of Real Estate Brokers (AREBI) Bali chapter has called on the provincial administration to strictly regulate unregistered brokers.
Foreign brokers require licenses to conduct business on the island.
Association advisor Tony Eddy told reporters: “There have been many property brokers operating in Bali without the required licensing, not only local people but also those from overseas. Many of them don’t even have a background in the property field. This has disadvantaged us, the registered and professional brokers who pay taxes.”
Darmadi Darmawangsa, Chairman of AREBI at the national level, shared his views that members were concerned about the number brokers and developers operating in Indonesia, particularly those from Singapore and Malaysia.
He said: “They can freely hold exhibitions in hotels. It’s absolutely against the law, but the government has done nothing to regulate it. They are not bound to any regulations or ethics, thus could potentially disfavour customers.”
Andrew Batt, International Group Editor of PropertyGuru, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
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