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Ivan Zhakata Herald Correspondent

The Estate Agents Council of Zimbabwe (EACZ) has warned home seekers of bogus estate agents who are masquerading as its members with the intention of swindling people of their money.

This comes after the police launched a manhunt for an alleged real estate fraudster, Mpumelelo Mhlanga, who reportedly fleeced home-seekers of US$200 000.

EACZ disassociated itself from Mpumelelo’s activities and his firm Ihawu in a statement.

It said Mpumelelo was issued with a “stop trading” letter early this year after it was discovered that he was masquerading as an estate agent.

EACZ is a statutory body for all persons registered as estate agents in Zimbabwe, involved in the sale and leasing of properties.

“The law regarding sale and leasing of properties for third parties requires such services (selling and leasing of properties) to be provided by registered estate agents only,” EACZ said.

“EACZ like all other professional bodies, faces challenges of illegal operators trading without fulfilling registration requirements and in the process fleecing the public of their funds in the form of illegal fees and theft of trust funds.

“Such operators are bogus, masquerading in various forms including as accommodation agents notorious for charging the public fees for illegal services such as being registered on a database or for getting lists of properties to lease, taking advantage of the general shortage of accommodation in Zimbabwe. Bona fide agents do not charge fees for such services.”

EACZ said estate agency firms operate on the basis of annual trading licences known as Compensation Fund Certificates (CFC) issued by the council on condition of clean trust account audits as well as firms having in their employment Principal Registered Estate Agents (PREAs).

The council said the CFC is issued for the purpose of compensating members of the public who may lose funds whilst dealing with legitimate estate agents.

“EACZ works hand in hand with law enforcement agents such as the ZRP in identifying and flushing out illegal or bogus estate agents and urges the public to only deal with agents registered by EACZ. The public is urged to always check the authenticity of an agent or firm.”