Operationalisation of the law refers to the process of implementing and enforcing legal frameworks to ensure they achieve their intended purpose in real-world scenarios. In Jamaica, particularly in the real estate sector, this involves translating legislation like the Real Estate (Dealers and Developers) Act into actionable guidelines, ensuring compliance among agents, brokers, and developers. For example, this could mean establishing mechanisms for licensing real estate professionals, monitoring adherence to ethical standards, and resolving disputes effectively through the Real Estate Board. Globally, operationalisation ensures laws are not just theoretical but actively shape industry practices, such as zoning regulations in urban planning or anti-money laundering rules in property transactions. This process often involves creating institutions, training professionals, and monitoring compliance to ensure that stakeholders act within legal boundaries. In real estate, operationalising laws builds trust, ensures accountability, and provides a structured environment for transactions, benefiting governments, businesses, and the public by maintaining order and fairness.
References:
National Land Agency (1987) The Real Estate (Dealers and Developers) Act. Jamaica: National Land Agency.
Real Estate Board Jamaica (n.d.) Licensing and Compliance Requirements. Jamaica: Real Estate Board.
Ministry of Housing, Urban Renewal, Environment and Climate Change (n.d.) Guidelines on Zoning and Urban Planning in Jamaica. Kingston: Ministry of Housing.
National Association of REALTORS® (n.d.) Global Standards in Real Estate. Chicago: National Association of REALTORS®.
World Bank (2018) Global Indicators of Regulatory Governance in Real Estate. Washington, D.C.: World Bank.
Jamaica Observer (2023) ‘Real Estate Compliance and Operationalisation: A Look at Jamaican Practices’, Jamaica Observer, 12 June.
Caribbean Policy Research Institute (2020) Enforcement and Compliance in the Real Estate Industry in the Caribbean. Kingston: CAPRI.