By Collins Sarkodieh 
The Real Estate Agency Council is launching an aggressive enforcement drive to remove unlicensed brokers and agents from the Ghanaian market. This initiative aims to protect consumers from fraud and restore professional standards across the industry.
Jacob Adofo-Ansong, President of the Ghana Association of Real Estate Brokers (GARIB), recently confirmed that the Council plans to conduct widespread inspections of offices and operations.
Individuals or firms caught operating without the required licenses will face serious legal consequences. This move marks a major shift for a sector that has historically operated with high levels of informality.
The Real Estate Agency Act, 2020 (Act 1047) has officially transformed brokerage into a highly regulated profession with clear licensing requirements. Despite these formal standards, many unlicensed operators still present themselves as agents, which undermines the credibility of the entire sector.
These unauthorized individuals often lack accountability, exposing the public to unnecessary financial disputes. By intensifying monitoring, the Council intends to make illegal practice both difficult and unattractive for those who ignore the law.
How can the public avoid real estate fraud?
Transparency and due diligence are the best defenses against property-related scams. The Bank of Ghana now encourages brokers to utilize the Collateral Registry system to verify if a property has already been pledged as security for a loan.
Professionals in the field are now key enablers responsible for ensuring that every transaction is secure. Key institutions are also stepping up to support this regulatory shift in several ways:
- Banks now require official proof of licensing before allowing real estate firms to open business accounts.
- Local assemblies are checking for valid licenses before they authorize the placement of real estate signboards or billboards.
- Members of the diplomatic and international community are intentionally prioritizing licensed practitioners for their housing needs.
The Bank of Ghana remains committed to transforming the national credit landscape through innovations like the Borrowers and Lenders Act 2020 (Act 1052). This legislative framework, combined with the Collateral Registry, helps reduce financial risk and promotes a secure environment for all stakeholders.
Fred Asiamah-Koranteng, Head of the Collateral Registry Department, emphasizes that understanding property history is essential. He urges all industry players to conduct thorough searches to prevent the marketing of encumbered properties.
The Council is currently working to increase the visibility of licensed professionals so the public can easily identify who operates legally. Education remains a top priority, as officials believe that limited public awareness of these reforms is still a major challenge.
As these enforcement activities increase, the industry expects a transition toward a more respected and reliable model. By fostering collaboration between the media, regulators, and licensed agents, Ghana is laying the groundwork for a safer future in property investment.
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Source: GNA