REBOSA 29 June 2018 Report

Dear Colleagues

Property Practitioners Bill

On Tuesday 26 June, the Department of Human Settlements briefed the Parliamentary Portfolio Committee on Human Settlements on the Property Practitioners Bill [B21-2018].  The Portfolio Committee is going to embark on a public participation process where the public will have an opportunity to interact with the committee on the Bill.  Rebosa will be participating in this process and will notify all our members in due course.  Please see the press release from the meeting below.

PP Bill Press Release  

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The National Association of REALTORS® (NAR) and the official host, Vietnam National Real Estate Association (VNREA), would like to invite you to join us at the IREC 2018—International Real Estate Conference in Hanoi, Vietnam from September 5 – 9, 2018. For more information about the specifics of the event, please visit the IREC 2018’s website at www.IREC2018.com.

About IREC 2018

IREC 2018 is a premier International Real Estate Conference gathering experts and real estate industry influencers from all over the world to connect, learn, network, share and transact. NAR has been a Strategic Partner to the IREC, formerly known as the IRC since its inception in 2015.  

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Property Practitioners Bill Update

Parliament, Tuesday, 26 June 2018 – The Portfolio Committee on Human Settlements was today briefed by the Department of Human Settlements on the Property Practitioners Bill [B21-2018] which seeks to, among other things, transform the property sector through regulation, participation and inclusion.

The committee has welcomed the briefing of this Bill, which provides for the repeal of the Estate Agency Affairs Act of 1976 and the provision for the continuation of the Estate Agency Affairs Board as the Property Practitioners Regulatory Authority. The committee is pleased that the Bill includes bond originators and assessors among others, and has raised the importance of having transformation as a standalone chapter within the Bill, since transformation of the sector is the main aim of this Bill as this sector does not have people who were previously disadvantaged operating within it.  

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SAPOA, Property Sector Charter Council to continue partnership on transformation

The South African Property Owners Association (SAPOA) will continue to fund the Property Sector Charter Council (PSCC) to the tune of around R250,000 a year for an additional three-year period.

The intention of this ongoing strategic partnership is to collaborate in fostering a common goal and vision in addressing the issue of and promoting transformation within the property industry.  

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2018 AUDIT REPORTS SUBMISSION REMINDER

1 June 2018

The submission deadline of 30 June 2018 for estate agency firms with a financial year-end of 28 February 2018 is imminent and this notification serves as a reminder to principals of these estate agency firms.

In order to ensure compliance with section 29(b), 32(3)(b) and 32(4) of the Estate Agency Affairs Act (the Act), principals are reminded to take note of the following information and also bring it to the attention of the auditors of their estate agency clients:  

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