Rebosa 16 November 2017 Report

Dear Colleagues

As the year draws to a close, there is still much to be done.  Please take note of some important information contained in this report.

Kind regards
Jan

New Faces on Rebosa’s Board

Rebosa held its 4th Annual General Meeting on the 31st of October in Johannesburg.

We are pleased to announce the election and re-election of five directors to the organisations board inclusive of Ms Andrica Lekganyane, a new face and the founder and Managing Director AreaGroup Property Services.  

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REBOSA 25 OCTOBER 2017 REPORT

Dear Colleagues

Having just returned from the Financial Intelligence Centre’s Road Show for accountable and reporting institutions in Cape Town, I can confirm that there is enough time before you have to report transactions and activities to the FIC in terms of the ‘new’ guidelines.  For now it’s business as usual and we keep on doing what we have done for years.

This being said, in terms of the FIC Act, you were required to register with FIC and receive your ORG ID on the goAML reporting platform.  Failure to register is an offence and subject to a fine not exceeding R10 million or imprisonment for a period of up to 5 years.  The FIC may also, in terms of section 45C (1) of the FIC Act, impose an administrative sanction for a failure to comply with any provision of the FIC Act, including a failure to register. If you have not already registered, please do so immediately on www.fic.gov.za

We have received numerous enquiries in respect of the new guidelines from the FIC and many agents are concerned about the implementation dates and deadlines etc.  

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THE PORTAL PARTNERSHIP

“Property industry uncertainty over Naspers’s Property24 takeover of Private Property is finally over. In its place, a fresh vision for a symbiotic relationship between the industry and digital space”

Palpable energy emanates from Simon Bray, CEO of Private Property, partly because that’s who he is, but also sparked by his exhilaration around the collaborative future of Private Property and its new partners.

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THE GRANT OF AN EDUCATIONAL EXEMPTION IN RESPECT OF THE NON EXECUTIVE DIRECTORS OF AN ESTATE AGENCY COMPANY DOES NOT APPLY TO THE MEMBERS OF AN ESTATE AGENCY CLOSE CORPORATION

Members of an estate agency close corporation who are both competent and entitled to take part in the running of the estate agency business of the close corporation must be registered with the EAAB.

For the purposes of compliance with the requirements of the Estate Agency Affairs Act all members of an estate agency close corporation who are both competent and entitled to take part in the running of the estate agency business of the close corporation as well as the management of the close corporation are regarded as estate agents and, as such, must apply for, and be issued with, a valid fidelity fund certificate by the EAAB.  

Read moreTHE GRANT OF AN EDUCATIONAL EXEMPTION IN RESPECT OF THE NON EXECUTIVE DIRECTORS OF AN ESTATE AGENCY COMPANY DOES NOT APPLY TO THE MEMBERS OF AN ESTATE AGENCY CLOSE CORPORATION

2016- 2017 Scorecard Certificate Collection

The Property Sector Charter Council (PSCC) office is embarking on a reporting process as required by law.

Both the BBBEE Act notice 112 of 2007 (Gov Gazette 29617) clause no. 5.4.2.2 and the constitution of PSCC compels and imposes the executive authority and responsibility on the PSCC to “compile annual reports on the state of BBBEE within the Property Sector based in relation to the transformational objectives set out in the Sector Code”. Pursuant to this, the PSCC will therefore collect and capture all scorecard data from Sampled Property Measured Entities for the period between 2016-2017.  

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50 000 ILLEGAL AGENTS OPERATING, SAYS EAAB

In Durban last week, Margie Campbell, spokesperson of the EAAB quoted that there were as many as 80,000 estate agents registered in 2007 with approximately 30,000 today. The story was reported in Business Day.

Jan le Roux, chief executive of Rebosa questioned these figures and wants to know what the EAAB are doing about the issue.  

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