EAAB IT System

TO: ALL STAKEHOLDERS

RE: IT ISSUES

The Estate Agency Affairs Board (EAAB) is mindful of the fact that its IT system is, due to circumstances entirely beyond its control, presently performing below full efficiency. This, unfortunately, has had a negative effect on the EAAB’s back-office functionality.  

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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.  

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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.  

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2017 AUDIT REPORT’S SUBMISSION REMINDER

The submission deadline of 30 June 2017 for estate agency firms with a financial year-end of 28 February 2017 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 their auditors: 

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HOW DO I, AS AN ESTATE AGENT, INTERACT WITH THE ESTATE AGENCY AFFAIRS BOARD?

An innovative mechanism to facilitate the interaction of estate agents with the Estate Agency Affairs Board (“EAAB”) will be introduced on 2 May 2017. As from that date the newly established online query management system must be used for all queries, questions and complaints relating to the issue of fidelity fund certificates, audit compliance, education compliance, legal matters and general enquiries.  

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IMPORTANT ANNOUNCEMENT: EXAMINATION CANDIDATES WHO UNDERTOOK THE PROFESSIONAL DESIGNATION EXAMINATION ON 2 MARCH 2017 MAY NOW OBTAIN EXAMINATION RESULTS

Candidates who wrote the Professional Designation Examination on 2 March 2017 are advised that:

  • the results of the examination may now be accessed by logging-on to the ‘MyEAAB’ portal of the EAAB website (www.eaab.org.za), clicking on the ‘Agents’ portal dropdown, completing the required information and then going to the right-hand menu and, under the ‘Education and Training’ tab, clicking on ‘Check your qualification status’ – if a green tick has been noted against the relevant PDE the candidate  will have passed the examination while if a red cross appears the candidate was unsuccessful;
  • appeals against examination results by unsuccessful candidates close on the 28 April 2017 after which date appeals cannot be entertained; and
  • certificates of Professional Recognition will be mailed to successful candidates by 2 June 2017.

 

Issued By: Estate Agency Affairs Board
Education and TrainingDept

Date of issue: 13 April 2017