By John Kariuki
The Association of Real Estate Stakeholders (RESA) has taken a decisive stance against unethical behavior in the real estate sector by expelling Vasco Real Estate from its membership. The move, announced in an official statement dated January 15, 2023, underscores RESA's commitment to upholding the highest standards of integrity, transparency, and professionalism in the industry.
According to the statement, Vasco Real Estate was expelled following due process that confirmed multiple violations of RESA’s code of ethics. The association emphasized that such practices contradict the values it seeks to instill in the real estate industry to protect the trust and confidence of all stakeholders, including investors, clients, and the broader community.
“As of August 2024, Vasco Real Estate ceased to be affiliated with RESA,” the statement reads. “We have updated our member directory and request that all communications and engagements reflect this change.”
RESA also reassured stakeholders of its ongoing commitment to maintaining ethical standards within the industry, stressing that any deviation from these principles will be met with appropriate action.
“Actions or behaviors that undermine integrity, transparency, and professionalism will not be tolerated,” the association affirmed.
The decision reflects RESA’s broader mission of “Restoring Confidence in Investments,” a slogan prominently featured in the statement. The organization’s leadership highlighted that the move is part of ongoing efforts to strengthen accountability and reinforce public trust in the real estate sector.
For the real estate market, this decision serves as a warning to other players in the industry to adhere to ethical practices. RESA’s strict approach signals a broader push to ensure that stakeholders—including investors, homeowners, and partners—are protected from unscrupulous dealings.
As the industry evolves, RESA’s focus on integrity could set a benchmark for how professional associations in Kenya and beyond manage compliance among their members.