The Tanzanian government is set to establish a Real Estate Regulatory Authority to professionalize the property market and curb fraudulent practices.The planned authority will regulate brokers and agents, ensuring only qualified professionals operate.Minister Dr Leonard Akwilapo confirmed the proposal has passed key government processes and is awaiting Cabinet approval.Industry stakeholders welcomed the move, citing the need for transparency and fair competition.The regulator aims to protect consumers from unethical practices, inflate prices, and unregistered operators.It is expected to boost investor confidence, particularly among foreign investors, by creating a more organized market.The reforms are crucial as urbanization drives property demand, but unregulated practices have led to financial losses for buyers.The authority will also enhance tax compliance and ensure all operators are properly registered.