FAQs
Frequently Asked Questions (FAQs)
Find answers to the most common questions about REAC’s licensing, compliance,
and regulatory processes under Act 1047. Click on a question to expand and read more.
Can a real estate company in Ghana operate without a REAC licence?
No. Under Act 1047, a company must first obtain a broker’s licence from REAC before carrying out real estate agency services.
What is the difference between a broker’s licence and an agent’s licence?
A broker’s licence authorizes an individual or company to supervise real estate transactions. An agent’s licence allows an individual to operate under the supervision of a licensed broker.
Can a company itself become a licensed broker?
Yes. A company may apply for a broker’s licence (corporate broker) but must appoint a designated officer who holds an individual broker’s licence.
What qualifications are needed to become a broker?
You must be at least 21 years old, of good character, hold at least a diploma in real estate-related studies or equivalent, and pass REAC’s broker examination (unless exempt under transitional provisions).
Can I use foreign experience to qualify as a broker in Ghana?
Yes. Under Section 59 of Act 1047, individuals with more than 5 years of proven practice before the law came into effect may qualify for licensing without examination, subject to REAC’s approval.
How long does a REAC licence last?
Licences must be renewed annually.
Do companies and agents need separate licences?
Yes. The company needs a corporate broker’s licence. The designated broker needs an individual broker’s licence. Each agent needs an agent’s licence.
What documents are needed for a broker’s licence application?
Application form, proof of ID, educational qualification (minimum diploma), evidence of experience, police clearance, tax clearance, TIN, passport photos, and payment of application fees.
What documents are needed for an agent’s licence application?
Application form, proof of ID, police clearance, affiliation with a licensed broker, tax clearance, passport photos, and application fees.
If the designated broker of a company resigns, what happens?
The company must immediately notify REAC and appoint a new licensed broker. Until then, the company and its agents cannot legally operate.
Can a developer’s sales department register directly with REAC?
Yes, but only under the supervision of a licensed broker. All sales agents must also obtain individual agent licences.
Can an agent work independently without a broker?
No. By law, every agent must be affiliated with a licensed broker.
Can a company employ an external broker?
Yes. A company may employ an external licensed broker, but that broker must hold a valid REAC broker’s licence before being designated to act on behalf of the company.
What if the external broker is not licensed?
The company must first obtain its corporate broker’s licence and the external person must apply separately for an individual broker’s licence. Both must be approved before the company can legally operate.
Can REAC inspect brokerage firms and agents?
Yes. REAC is empowered under Act 1047 to monitor compliance, inspect offices, review transaction records, and enforce standards of practice.
Does REAC monitor advertisements by real estate agents?
Yes. Under Act 1047, REAC regulates advertisements in print, electronic media, and online platforms to ensure compliance and protect the public from false representation.
What happens if my licence expires?
You cannot legally carry out real estate transactions until it is renewed.
Are there penalties for operating without a REAC licence?
Yes. Act 1047 imposes sanctions including fines and possible imprisonment for unlicensed operations.
Does REAC provide a public list of licensed brokers and agents?
Yes. REAC maintains a national register of licensed professionals, which will soon be accessible online.
How can I make a complaint against a broker or agent?
You may file a complaint through REAC’s office or website. A complaint resolution mechanism exists under Act 1047 to handle disputes, client grievances, and disciplinary matters.
What is the Agent Registration Fee?
The annual registration fee for Agents is GHS 1,350.00.
What is the Broker Registration Fee?
The annual registration fee for Brokers is GHS 2,850.00.
What is the Real Estate Agency Services Fee for Developers?
The annual registration fee for Developers is GHS 2,850.00.
What is the Real Estate Agency Services Fee for Marketers?
The annual registration fee for Marketers is GHS 2,850.00.
What is the Real Estate Agency Services Fee for Facilities/Property Managers?
The annual registration fee for Facilities/Property Managers is GHS 2,850.00.
What is the fee for a Foreign National Purchase?
The fee is the Cedi equivalent of US $250.00.
What is the fee for a Foreign National Landlord?
The fee is the Cedi equivalent of US $250.00.
What are the Sales and Lettings Surcharges?
Sales surcharge is GHS 125.00 and lettings surcharge is GHS 50.00.
What are the Transaction Certificate Fees?
Sales & Purchase Certificates cost GHS 125.00 while Rental Certificates cost GHS 75.00.
What is the per registered agent fee under a Broker, Developer, or Marketer?
Each registered agent under a Broker, Developer, or Marketer pays GHS 250.00.
What are reinstatement and suspension fees for licences?
Reinstatement fee is GHS 750.00, suspension fee is GHS 250.00.
What are the certificate-related fees?
Replacement and amendment of licence certificates each cost GHS 250.00.
How much does it cost to access registers and databases?
A copy of the Register of Brokers & Agents costs GHS 3,750.00, while the National Transactions Database costs GHS 2,500.00.
What are the training and examination fees?
• Course Fee (Agents): GHS 750.00
• Course Fee (Brokers/Marketers/Developers): GHS 1,250.00 each
• Examination Fee: GHS 875.00
• Diploma Certificate: GHS 375.00
• Exemption Application per subject: GHS 75.00
What are the fees for training providers?
Course provider accreditation fee is GHS 1,000.00 and per-student course fee is GHS 750.00.