Rebosa Report 29 August 2017

Avoid the negative consequences of non-compliance in 2018

As December 2017 rapidly draws near, full status estate agents (excluding presently registered intern estate agents), are again reminded that they must ensure that they comply with mandatory Continuing Professional Development (CPD) requirements if they wish to continue legally practicing as estate agents.

Please note that all agents who were registered as full status estate agents in 2015, but who either failed to register for CPD in 2015, 2016 and/or 2017 or who have not yet accumulated the requisite verifiable and non-verifiable CPD points for those CPD years, are advised that 2017 is the last year in which they may still register for, and complete, the entire CPD programme for the cycle.

Any agent who has failed to accumulate forty-five verifiable and fifteen non-verifiable CPD points by the end of the 2017 calendar year will not be able to renew their fidelity fund certificates for 2018.

Please read the full notice below.

CPD Reminder 2017

Read moreRebosa Report 29 August 2017

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We offer you and your employees a complete management training solution consisting of  a suite of 42 online on-demand leadership and management courses called Harvard ManageMentor.  Courses cover all the core topics in the categories Managing yourself, Managing others  and Managing the business. The whole suite is made available at the incredible low price of R8,450 (ex VAT) per employee, which buys learners access to all courses for a whole year!  See the attached brochure for a list of all course topics.  

Read moreSpecial limited offer – affordable Harvard ManageMentor training for all Estate Agency Businesses!

2017-2018 Discretionary Grants: Call for Applications

The Services Sector Education and Training Authority (Services SETA) hereby invites registered employers in the Real Estate and related services sector, Skills Development Providers or registered education institution accredited to provide training on legitimate SAQA registered qualifications specifically in the Real Estate and related services sector and suitable entities to apply for discretionary grant funding. These grants are intended to meet the sector needs set out in the Sector Skills Plan (SSP), Strategic Plan and the priorities set out in the National Skills Development Strategy (NSDSIII).  

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10 THINGS YOU SHOULD KNOW ABOUT PROPOSED CHANGES TO THE PROPERTY PRACTITIONERS BILL

1. DEFINITIONS

The Bill would extend the definition of an estate agent to a property practitioner, which could include bank employees, bond originators and building caretakers. This wider definition will mean the EAAB (the authority in future) will be inundated.

2. OMBUDSMAN

The introduction of an ombudsman, who in turn can appoint a mediator. There could be a faster resolution of conflicts but it also leads to vast powers with overlapping and unclear jurisdictions.

3. COMPOSITION OF THE BOARD

The number of board members would be reduced to a maximum of 12. The Minister can and will appoint at least one person with knowledge of the industry.

Read more10 THINGS YOU SHOULD KNOW ABOUT PROPOSED CHANGES TO THE PROPERTY PRACTITIONERS BILL

THE REAL IMPACT OF THE PROPERTY PRACTITIONERS BILL

Richard Stevens paints a bleak picture about the potential impact of the Property Professional Bill on his small real estate agency

We are a small, black real estate agency and have been operating our business, sheridaproperties, since October 2011. My wife, Sherida, has been an estate agent since 2003, and has obtained a Fidelity Fund Certificate every year since. I am a full status estate agent (Professional Practitioner in Real Estate) and my wife is the Principal Estate Agent (Master Practitioner in Real Estate).

Read moreTHE REAL IMPACT OF THE PROPERTY PRACTITIONERS BILL

CONTINUING PROFESSIONAL DEVELOPMENT (CPD) PROGRAMME 2017

Estate agents are reminded that, in terms of the Standard of Training of Estate Agents Regulations, 2008, they must comply with prescribed Continuing Professional Development (CPD) obligations to continue to practice as such.

All estate agents, excluding only intern estate agents, must participate in the EAAB’s CPD programme and accrue the required number of annual verifiable and non-verifiable CPD points if they wish to retain a fidelity fund certificate entitling them to render estate agency services.  Estate agents falling within the rolling three-year CPD cycle which commenced in 2015, that is to say, persons who were registered as full status estate agents in 2015, but who either failed to register for CPD in 2015, 2016 and/or 2017 or who have not yet accumulated the requisite verifiable and non-verifiable CPD points for those CPD years, are advised that 2017 is the last year in which they may still register for, and complete, the entire CPD programme for the cycle.  

Read moreCONTINUING PROFESSIONAL DEVELOPMENT (CPD) PROGRAMME 2017

PROFESSIONAL INDEMNITY INSURANCE FOR ESTATE AGENTS

The sale, lease or management of immovable property is clearly not simply about the estate agent concerned closing the deal and obtaining payment of the agreed commission.

More intrinsic detail is required to ensure that the property transaction is completed in a transparent and compliant manner as required by the Estate Agency Affairs Act, 112 of 1976 (“the Act”).

It must be borne in mind that Estate Agency Affairs Board (EAAB) was created to protect members of the public in their dealings with estate agents. Consumer protection, indeed, lies at the heart of regulating the real estate sector.  

Read morePROFESSIONAL INDEMNITY INSURANCE FOR ESTATE AGENTS

EXPANDED CRITERION FOR THE GRANT OF THE STATUTORY EXEMPTION AGAINST THE PROFESSIONAL DESIGNATION EXAMINATION IMPLEMENTED

The Estate Agency Affairs Board had previously interpreted regulation 7(3) of the Standard of Training of Estate Agents Regulations, 2008, as meaning that, to qualify for the grant of the statutory exemption against the Professional Designation Examination (“PDE”), estate agents must have continuously held a valid fidelity fund certificate solely for the period 2003 to 2008 inclusive.  

Read moreEXPANDED CRITERION FOR THE GRANT OF THE STATUTORY EXEMPTION AGAINST THE PROFESSIONAL DESIGNATION EXAMINATION IMPLEMENTED