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Move to quash graft in real estate
(STANDARD) 02月 12日 星期二 05:30AM
The Independent Commission Against Corruption has joined forces with the real estate sector to stamp out graft in the booming industry.
The number of complaints the ICAC received against real estate agents last year rose around 20 percent to 79 from 65 in 2006.
They accounted for 3 percent of all private-sector corruption complaints.
Fourteen cases were prosecuted last year - the same number as in 2006 - and 19 in 2005.
From 2005 to last year, the ICAC referred 18 cases to the Estate Agents Authority for follow-up action.
Three of the accusations were established, resulting in two agents having their licenses temporarily suspended, with the third agent's license being forfeited.
The anti-corruption body and the EAA have put out a joint publication to help property agents in their work.
ICAC program coordinator (business sector) Rita Lily Liaw said the move against corruption is to ensure that the property sector remains robust and graft-free.
One of the most common forms of corruption among real estate agents is the practice of paying bribes to transfer property from one agency to another.
Others include soliciting advantages from the buyer or seller without the consent of the agency and inflating the transaction cost to apply for higher mortgages.
Eric Wong Lun-cheong, EAA acting director of operations, said breaches of trust will not be tolerated and the anti- bribery ordinance is one of the core subjects property agents must pass before they can obtain their license.
Wong said agents should never solicit "tea money" from clients.
"The key to prevent oneself from falling on the wrong side of the law is that, whatever he or she receives as a commission, every party involved in the transaction must know about it, including the buyer, the seller and his or her employer," Wong said.
The ICAC move came as Hong Kong developers are predicting overall prices of the housing market, especially those of luxury premises, will increase as much as 20 percent this year in the wake of cheaper mortgages, higher household income and an optimistic economic forecast.