IMPORTANT ANNOUNCEMENT

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COMPLIANCE WITH EDUCATIONAL REQUIREMENTS BY ESTATE AGENTS WHO WERE REGISTERED WITH THE EAAB ON 15 JULY 2008

It is recorded that, pursuant to the provisions of the Standard of Training of Estate Agents Regulations, 2008, all principal and non-principal estate agents who held a valid fidelity fund certificate, issued by the Estate Agency Affairs Board (“EAAB”), on 15 July 2008, were required to have complied with the mandatory educational requirements for estate agents by no later than 30 June 2015.

It was, thus, required of affected estate agents to have been both duly certificated against the relevant NQF real estate qualification applicable to their estate agency status and, also, to have passed the necessary Professional Designation Examination, whether for principal or non-principal estate agents respectively, by no later than 30 June 2015.

Due, however, to extraneous circumstances over which estate agents have no control, it is apparent that a number of the estate agents concerned have still to be certificated against the required NQF real estate qualification. Since certification against the NQF real estate qualification is a prerequisite for registration for the Professional Designation Examination, those persons have, consequently, neither been able to enrol for nor write the required Professional Designation Examination.

Having duly taken these factors into account, the EAAB has resolved that currently practicing principal and non-principal estate agents who were registered as such on 15 July 2008 but who have not yet complied with the prescribed educational requirements may not be issued with a fidelity fund certificate for the 2016 calendar year unless they:

  • provide written proof to the EAAB confirming that they are currently registered with a Services SETA-accredited real estate prior learning assessment centre or real estate training provider, as the case may be, for accreditation against the required NQF real estate qualification; and
  • where such a document has been issued, also furnish a copy of the preliminary competency finding by that Services SETA-accredited real estate prior learning assessment centre or real estate training provider, as the case may be, pending the verification of that competency finding by the Services SETA.

The required proof of registration by the estate agent concerned with a Services SETA-accredited real estate prior learning assessment centre or real estate training provider, as the case may be, must be received by the EAAB by no later than 30 October 2015, being the last date for the renewal of fidelity fund certificates for the 2016 calendar year. Receipt by the EAAB of such proof will enable the estate agent concerned to be issued with a fidelity fund certificate for the 2016 calendar year. Once the initial competency finding against the NQF real estate qualification has been duly verified by the Services SETA, the estate agent concerned will be required immediately to advise the EAAB accordingly and to enrol for, and pass, the next scheduled Professional Designation Examination.

Practicing principal and non-principal estate agents who were registered as such on 15 July 2008 and who have yet to comply with the peremptory educational requirements are, therefore, requested to e-mail the necessary written proof of registration with a Services SETA-accredited real estate prior learning assessment centre or real estate training provider, as the case may be, to the EAAB as soon as possible. Such written proof should be e-mailed to upgrades@eaab.org.za and must, in any event, be received by the EAAB by no later than 30 October 2015. Failure to do so will result in the disqualification of that estate agent meaning that it will not be possible for the EAAB to issue a fidelity fund certificate to that person for the 2016 calendar year.

Issued by: Estate Agency Affairs Board

Date: 21 August 2015

 

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