REAL estate agents are trying to organise a countrywide Myanmar Real Estate Association (MREA) to standardise operating procedures, a source within Yangon’s real estate community said last week.

U Sai Khung Naung, the managing director of Sai Khung Naung Real Estate, said the members of the proposed body are applying to the government for a licence to form the association.

“We have already organised an executive committee for this association with 19 members of Yangon’s real estate companies. We’ve been working on this plan for the past three years,” he said, adding that a draft plan of the association has already been drawn up.

U Myat Thu Win, the proposed chairman of the as-yet unformed executive committee, said committee members would be volunteers.

“We’re choosing future members who will be nominated and agreed upon by the group and who are willing to participate in this association,” he said.

The main purpose of the association will be to standardise operating norms throughout the real estate industry.

“We need to organise those operating in this industry into one body.

“After that, we can begin to settle ongoing issues like copying data and levying service fees or find ways to promote staff capacity building. If we’re able to boost the abilities of our workers it will lead to more satisfaction amongst customers and client.

“I believe this association has the capacity to aid the development of the real estate sector,” he said.

U Sai Khung Naung said the forming of an association would create opportunities to link up with real estate businesses in the Asian region.

The real estate agents who spoke to The Myanmar Times said they would welcome the formation of an industry association, including Daw Nilar of Kyel Su Thit real estate, who said it was a good sign the industry was moving forward.

“Plenty of other industries, like the engineering or business fields, also have an association. I think it’s a good development for our industry because this association will be able to set an example,” she said, adding that she would be willing to join.

U Tun Min Latt, who runs his own real estate business in Hlaing Tharyar township, said the association would improving the real estate business.

“We can better shape the industry if we work together to form and carry out ideas. I believe we can share information on a number of topics, such as how to integrate our services, by having an association.

“And by improving the industry I think we’re likely to find more clients. If this association is approved by the government I’ll be joining,” he said.

U Myat Thu Win said there are up to 200 real estate services countrywide.