-As US-Based Liberian Rebrands Sector
With several challenges within the real estate sector of Liberia, scores of real estate brokers, investors and vendors came together and established what they termed as the “Federation of Real Estate Agency of Liberia (FE REAL)”.
One of the major brains behind the establishment of this noble institution is a young female Liberian, who is based in the US, Madam Marvina F. Skaf. Ms. Skaf has over 19 years of experience in IT operations, cyber-security, marketing and has worked with the United States’ real foreign estate investors.
In an exclusive interview, Ms. Skaf disclosed that the formulation of proper laws and regulations within the real estate sector of Liberia will build confidence and trust in local and foreign investors.
She further noted that the real estate sector of any country is one of the vehicles that buttress government’s efforts in creating more jobs, infrastructure development and promoting economic growth.
With over 40 real estate brokers at a one-day workshop held at a local hotel in Paynesville, outside Monrovia, the US-based Cyber-Security Expert via zoom said her decision to help revamp the sector is because of the absent laws and regulations within the real estate sector of Liberia.
She said if there is no proper law put in place, potential investors will not put their dollars into the sector as a result the country’s development will move on a snail pace and government could also loose potential revenue.
According to Ms. Skaf, real estate business is not only about rental, selling and buying properties but it is about also creating jobs, laws and contributing to the revenue envelop of a country.
She urged stakeholders at the one-day workshop to make better use of the various social media platforms by digitalizing their businesses and creating a tracking system to measure their activities. Ms. Skaf also added that the establishment of FE REAL gives an organized advantage whether an agent is just getting started and keeping them focus on their goals.
It has been alleged that there are lots of unscrupulous individuals within the sector who are involved with dual sale of land and other properties that is frustrating potential investors and it is causing serious hindrances to the real estate sector of Liberia.
The one-day workshop that was held last Saturday is the second of its kind that was organized Ms. Marvina K. Skaf. Among other things, it was also intended to educate real estate agents in Liberia about the importance of sector.
Facilitating the workshop via zoom, she clarified that her partnership with FE REAL is not intended to provide real estate agents money but provide them with the requisite knowledge that will move the sector forward.
She also stated that along with members of the real estate entity, they are going to create a curriculum that will be endorsed by the entire membership of FE REAL; at which time every member will be licensed and anyone who is not certified and licensed will not be allowed to do any business within the real estate sector.
“In the next two to five years only licensed members of the Federation of Real Estates Agency of Liberia (FE REAL) will be regulated by the federation and their license will be renewed every year or after every two years,” Madam Skaf warned.
She disclosed that for one to obtain a broker license, that agent must run a real estate business for up to three years because with these regulations the sector will be able to attract foreign direct investors, better infrastructure like affordable housing facilities among others.
One of the major real estate business owners and Chief Executive Office of the Wiah and Sons told this medium that there is big workshop expected to be held in December this year if all of the formalities are finalized.
For his part, FE REAL current National Chairman, Reverend Habakkuk B. Powell, told participants at the one-day workshop that they are now in partnership with the relevant government entities like the Liberia Revenue Authority (LRA), Liberia Land Authority (LLA) and the Ministry of Finance and Development Planning.
Rev. Power said his decision to work with the government is because the real estate sector is the foundation for development, jobs creation and economic growth.
According to him, FE REAL was established to regulate the activities of real estate professionals and boost the sector by weeding out some unscrupulous individuals pretending to be real estate brokers, investors and vendors.
Speaking on behalf of participants at the workshop, Edward Z. Dickson, CEO of Monrovia Real Estate Agency, Inc. lauded Madam Skaf for the timely intervention to rebrand the sector and conducting a training that has enlightened their minds and broaden their ideas about the real estate sector.
The one-day real estate workshop was held under the theme: “The Art of the Deal! Real Estate Growth” with several other financial institutions attending the occasion at the Golden Gate Hotel.
Facilitators who spoke via zoom from the United States of America were Madam Marvin K. Skaf, Remoteone Solutions LLC; Madam Shundal Rodger; Mr. Kenneth Igwe, CEO, Loan Brooker, Director Baker Collins & Co. and Hakiim Herring, You Real Estate Partner.
