Monday, September 25, 2017

Real estate body seeks member boost

Myanmar Real Estate Services Association is looking to boost its membership in Yangon Region, the vice president of the newly formed body said recently.

Formerly known the Myanmar Real Estate Association, MRESA waged a six-year campaign to be officially recognised by the government before being granted approval by the Ministry for National Planning and Economic Development on June 28.

U Than Oo, the association’s vice president and the managing director of Mundine real estate agency in Kyauktada township, said the association aims to help the development of the country’s urban landscape and housing development.

He added that the association aimed to bring order to the nation’s many brokers and agents and help them and clients to solve disputes.

He said the association was actively seeking members in Yangon.

“We have informed people in Yangon’s real estate industry about the official registration and legally formation and have started distributing guidelines to members, as well as applications,” he said.

“There are many real estate agents and brokers in Yangon Region and we are accepting applications from outside Yangon as well,” he added.

Membership forms are also available at the association’s headquarters within the Union of Myanmar Federation of Chambers of Commerce and Industry office in Lanmadaw township.

Companies and organisations that wish to join the association will be required to pay a joining fee of K100,000 and an annual fee of K36,000. Private businessmen wishing to join will be required to pay a K50,000 joining fee, with an annual fee of K30,000, while other new members will pay a joining fee of K30,000 and an annual fees of K18,000.

Ko Soe Wunna, the general manger of Shining Star real estate agency in Ahlone township, said he welcomed the formation of an official real estate association, which benefited all parties in the industry.

“I hope the association is good for big and small agents in the industry, as well as for individual brokers and clients,” he said.

“What we need is for some basic qualifications to be set for handling real estate transactions – some basic courses,” he added.