Government moves in to bring sanity in real estate sector through establishment of Management Council

Lands Minister, Deus Gumba

* The sector has long been plagued by unethical practices, including the rise of ‘briefcase estate agents’ who have taken advantage of regulatory loopholes to dupe unsuspecting Malawians

* These individuals lack professionalism and have used tricks to siphon resources from Malawians

* This is not only unethical but undermines the credibility of the entire sector—Minister of Lands, Deus Gumba

By Fostina Mkandawire, MANA

Minister of Lands, Deus Gumba has said the establishment of the Real Estate Management Council will bring long overdue order, accountability, and professionalism to Malawi’s land ownership sector.

Speaking during the official orientation of council members in Salima yesterday, Gumba said the Real Estate Management Act, 2024, and the Property Valuation Act, 2024, offer a comprehensive legal framework to regulate the sector and protect the public from unscrupulous agents.

“The establishment of the Real Estate Management Council could not have come at a more opportune time,” he said. “The Council will play a critical role in bringing order, accountability, and professionalism to the real estate sector.”

He emphasised that the sector has long been plagued by unethical practices, including the rise of “briefcase estate agents”, who have taken advantage of regulatory loopholes to dupe unsuspecting Malawians.

“These individuals lack professionalism and have used tricks to siphon resources from Malawians. This is not only unethical but undermines the credibility of the entire sector,” he said.

According to Section 9 of the Real Estate Management Act, the Council is mandated to regulate the practice of real estate business and ensure that only licensed individuals operate as agents, managers, or developers.

Gumba said this framework is also key in addressing long standing issues such as money laundering, often facilitated through real estate transactions.

“The risks will now be mitigated through the Council’s collaboration with institutions such as the Financial Intelligence Authority,” said the Minister.

Real Estate Management Council chairperson, Don Whayo assured the public of their commitment to restore trust in the sector: “Our responsibility is to ensure that real estate agents are credible and the public is protected.”

“We are fully committed to making sure the law is followed and that only licensed individuals operate in the sector.”

Whayo further noted that the Council’s immediate priority is to screen existing practitioners and ensure that only qualified individuals continue to offer services.

“This is a service to the nation — we must move quickly to protect Malawians. Real estate is vital to the economy and must be regulated to avoid crisis,” he said.

The Council is also expected to set up an operational structure within the next month to support the enforcement of the new laws and monitor compliance.