It was with great sadness that we learnt of the passing of Pam Golding. Mrs Golding was a truly remarkable women. She built a thriving global property business that earned her place as one of Africa’s leading businesswomen – all whilst maintaining her effortless grace and charm and never losing sight of her exemplary levels of ethics and integrity. She has left a wonderful legacy for the next generation of female entrepreneurs to follow. We extend our deepest sympathies to Andrew, Peter and Jill, the Pam Golding Group family and her many colleagues and friends.
New Minimum Wage Provisions
The introduction of a national minimum wage is expected to increase the earnings of more than six million working South Africans. Under the new law, employers will have to pay their staff a minimum wage of R20 an hour.
The bill was expected to be passed before the 1 May 2018 deadline but it now seems unlikely that it will be finalised this year.
Please find below an article on the Bill for your perusal.
Sworn Affidavit – B-BBEE Exempted Micro Enterprise
An Exempted Micro-Enterprise, “EME” is only required to submit an affidavit confirming an annual turnover of less than R2.5 million. EMEs automatically gain Level 4 BBBEE status. If there is 51% black ownership, they are given Level 2 status, while EMEs with 100% black ownership immediately gain Level 1 status. Affidavits are valid for a period of one year, and then need to be re-done.
Below, please find a template that can be used in this regard.
Private Property Portal
There seems to be some confusion and misinformation being circulated on social media about the Private Property transaction.
Much has been discussed on social media around Caxton’s shareholding in Private Property and a call for Rebosa to “level the playing fields” by supporting and endorsing up to 5 portals.
It should be noted that Caxton’s does not have a controlling share in Private Property and view this transaction as a long term strategic investment, partnering with the industry as opposed to pure return on investment, as has been touted on social media.
Ideally, it would have been advantageous for the industry if estate agents had got together a decade ago and created a 100% agency owned portal – that ship has sailed. Private Property is currently the second biggest portal with the third, fourth and fifth contenders’ way down the pecking order.
Private Property has the potential to compete and exceed and therefore in the best interests of the industry, Rebosa is endorsing Private Property South Africa. The objective is to ensure that the industry is not held to ransom by one dominant portal.
More importantly a share offer will reach all estate agencies in a matter of weeks in terms of which shares will be offered to each and every estate agency on exactly the same terms and conditions on which the current shareholders bought their shares in Private Property. There will be no disadvantage to late comers nor smaller agencies. This is a “level playing field”.
Rebosa Property Sector Code Presentations
The Property Sector Code (PSC) was gazetted on 9 June to address inequalities in the property sector and promote economic transformation. It applies to all property practitioners and is binding by law. The impending Property Practitioners Bill proposes that all Property Practitioners will require a BEE certificate, without which FFCs will not be issued.
Rebosa will be embarking on a national roadshow to unpack the PSC in detail and explain how B-BBEE will be implemented in the property sector in terms of the Codes of Good Practice Scorecard.
Mr Adrian Frewen, an Associate in the Commercial Division of Phatshoane Henney Group of Attorneys, will be our special guest at these events.
Please diarise the following dates and ensure to book your tickets on our EventBrite site timeously as seating will be limited.
1. Garden Court – Durban 10 May
2. The River Club – Cape Town 15 May
3. Protea Hotel OR Tambo International Airport – 18 May
Details will follow.
EAAB Multi-Stakeholder Group Meeting
We are pleased to announce that the next MSG meeting is scheduled for Thursday 12 April 2018
This platform was created as a conduit between the EAAB and industry. We have proposed many agenda items that need clarity or resolve and will report back following the meeting.
EAAB Online Query Management System
As discussed in our previous report, the EAAB will no longer attend to any queries without an online query system reference number.
See below for your perusal a very comprehensive Standard Operating Procedure Manual (SOPM) of EAAB registration requirements prepared for us by Joseph Sakoneka. If agents follow these procedures by the book it will streamline processes and allow for easier resolve of all your queries.
Rebosa Online Query System
Following our last report, our website developers are currently designing our own online query system which will align with EAAB online query system. As with all technology we are having to test the processes and will send out a notification when this is live and operational.
Jan le Roux
REBOSA | (NPC) Company Registration 2011/12976/08
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