REBOSA Verbal Submission on Property Practitioners Bill to Portfolio Committee on Human Settlements

Madam Chairperson, Members of the Committee

Thank you very much for the opportunity to address you on the Property Practitioners Bill.

I am Jan le Roux, CE of Rebosa. Our members employ 16500 practicing estate agents, mostly focused on residential properties. I have been a registered agent for 35 years.

We support the replacement of the current Act

REBOSA has put a lot of work into drafting detailed comments on the Bill and submitted same to you.  Obviously it will be impossible to address all those issues today – hence I will only touch on  some.  

Read moreREBOSA Verbal Submission on Property Practitioners Bill to Portfolio Committee on Human Settlements

Invitation to participate in the stakeholder engagement on Property Practitioners Bill [2018]

The Portfolio Committee on Human Settlements (National Assembly) is mandated by the Constitution, amongst others, to conduct oversight over the Executive, pass legislation and conduct public participation on its legislative processes. The Speaker of the National Assembly, Hon Mbete referred the Property Practitioners Bill to the Committee for its consideration and reporting.  

Read moreInvitation to participate in the stakeholder engagement on Property Practitioners Bill [2018]

What must estate agencies do to be BEE compliant (Part 2)

Whether the Property Practitioners Bill comes to pass this year or the next, one clause that property practitioners must take notice of is the one that sets B-BBEE compliance as a requirement for the issuing of a Fidelity Fund certificate. What does a real estate agency have to do to become B-BBEE compliant? And what about white sole proprietors? Adrian Frewen, associate with the Phatshoane Henney Group of attorneys, shares some insight in the 2nd article in his series on the Property Charter and B-BBEE compliance.

Firstly, it is important to note that the compliance requirements for real estate agencies differ based on the size of the business. The Property Sector Code differentiates between three groups of entities, namely an Exempt Micro Enterprise (EME), Qualifying Small Enterprise (QSE), and Generic entities.  

Read moreWhat must estate agencies do to be BEE compliant (Part 2)

To BEE or not: No longer a question

The Amended Property Sector Code for Broad-Based Black Economic Empowerment (B-BBEE or BEE as it is more commonly referred to) was gazetted on 9 June 2017. The Property Sector Code applies to various entities operating in the greater property sector, including real estate agents. Adrian Frewen, associate with the Phatsoane Henney Group of attorneys, explains why achieving B-BBEE compliance is critical in the property sector.  

Read moreTo BEE or not: No longer a question

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.  

Read moreProperty Practitioners Bill Update

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.  

Read moreSAPOA, Property Sector Charter Council to continue partnership on transformation