Ghana Institute of Real Estate Brokers Launched: A New Chapter for the Industry

On November 15, 2024, the Erata Hotel in Accra became the stage for a historic moment in Ghana’s real estate sector—the official launch of the Ghana Institute of Real Estate Brokers (GhIREB). The event, which also included the induction of the institute’s inaugural members, marked the beginning of a new era of professionalism, accountability, and ethical practices in the industry.

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Setting the Stage for Transformation

The real estate sector in Ghana has long grappled with issues of unregulated practices and inconsistent standards. Against this backdrop, GhIREB’s establishment comes as a timely intervention. The institute aims to standardize real estate practices, provide training and certification, and build trust between professionals and their clients.

In his opening remarks, Nana Otu Turkson, the guest speaker and CEO of the Real Estate Agency Council (REAC), underscored the need for change. He revealed a startling statistic: “As of now, only a few brokers have been registered as brokers in the country. This speaks to the need for stronger regulation and the professionalization of the industry.” 

In early November, the Real Estate Agency Council (REAC) initiated a limited registration process for real estate brokers. However, only a small number of applicants successfully registered, having met the stringent requirements set by the council.

This sentiment set the tone for the day’s proceedings, as speakers, panellists, and attendees united around a shared vision for a better future.

A Gathering of Industry Leaders

The event brought together some of the most influential voices in Ghana’s real estate landscape. Among the distinguished speakers were:

• Hanna Atiase, CEO of EWells Realty & Consultancy. She also served as a lecturer during the training.
• Surv. Raphael Hockey Esq., Head of Regional Operations at the Lands Commission, who also served as a lecturer during the training sessions preceding the launch.
• Valuer Aba Amoah, a respected member of the Ghana Institution of Surveyors (GhIS) and CEO of BDZ Properties. She also served as a lecturer during the training.
• Daniel Kontie, CEO of African Continental Engineering & Construction Network.
• Chief Nana Asare Amankwah II, CEO of Shelter Mart.

Their insights highlighted the importance of professionalism, innovation, and ethical conduct in addressing the sector’s challenges.

Induction of New Members

A significant milestone of the event was the induction of real estate brokers and agents into GhIREB. These agents represent the next generation of real estate professionals committed to operating within a framework of ethical standards.

The inductees will continue their journey through advanced training programs, which will eventually qualify them as licensed brokers and agents under the REAC. This process ensures that GhIREB members not only meet but exceed the expectations of clients and stakeholders.

Key Discussions and Themes

Panel discussions during the event focused on:

• Tackling unregulated practices and their impact on the industry.
• Leveraging technology to improve service delivery.
• Building trust with clients and ensuring transparency in transactions.

These conversations underscored the need for collaboration among agents, developers, and policymakers to create a thriving, well-regulated real estate sector.

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The Way Forward

The launch of GhIREB is a decisive step toward addressing the pressing challenges in Ghana’s real estate market. By creating a unified code of ethics, providing opportunities for professional development, and promoting accountability, the institute is poised to elevate the sector to new heights.

As the event concluded, there was a shared sense of optimism among attendees. The Ghana Institute of Real Estate Brokers is more than just an organization—it is a movement that promises to redefine real estate practices in Ghana. With the foundation laid at this historic event, the future of the industry looks brighter, more transparent, and undeniably professional.

This launch is not just a milestone but the beginning of a transformative journey for real estate practitioners in Ghana, paving the way for a more organized, credible, and investor-friendly sector.