THE Government should take the initiative and regulate the real estate industry, says property valuation and consultancy specialist Bruce Garland.
Mr Garland, head of Gardory subsidiary Bruce Garland, told a Kiwanis Club luncheon at Furama Hotel that all real estate salesmen should pass an examination to ensure they had a reasonable level of commercial practice.
He said estate agents should be bound by law to have a professional indemnity policy to eliminate malpractice.
''Qualified partnerships are controlled by their institutes code of conduct,'' he said.
''Unfortunately, this does not apply to the, may I say, ungodly, and it has developed into quite an unpleasant free-for-all.'' Mr Garland said many village commercial enterprises in Sai Kung had now ''seen fit to dabble in the real estate market''.
Restaurant operators were known to have converted part of their properties into real estate offices, and even a grocer kept a small area for sales and letting, he said.
