Below, please find the EAAB annual performance plan as presented to the Chairperson of the Portfolio Committee on Human Settlements on 28 March 2017.
Highlights from the presentation include:
- The EAAB will ensure that 100% of the registered estate agents are fully qualified in terms of legislative requirements by the end of 2018/19
- The EAAB will implement a wide range of measures to monitor compliance such as introduction of online self-assessments and evaluations, strengthening of the EAAB ‘enforcement capacity to enforce the provision of the Act and strengthening audit compliance process.
- EAAB will develop and implement programmes to accelerate the achievement of 30% participation of previously disadvantaged background in the Profession of Estate Agents
- Implementation of a Research unit within EAAB to support transactional support function and gain an understanding of illegal trading Estate Agents.
- Finalisation of Property practitioners Bill.
- 95% of FFC issued to compliant new registered estate agents issued within 21 days
- 90% of the renewal certificates issued to current and compliant estate agents within 5 days.
- FFC renewals fee to increase by 36% except for interns to support transformation
- FFC new registration fee to increase by 6% except for interns to support transformation
- Income from exams to increase as examination deadline come closer;
- Interest income estimated to increase by 7.48%;
- Management fee to remain relatively constant;
- Contributions from New Registrations are estimated to increase by 20%;
- Agent interest estimated to increase by 12%;
- Interest Income is budgeted at 7% on the expected capital investment of R70 million;
Top40 is expected to generate annual returns of 8% per annum on the capital investment of R350 million;
Click on the link below for the full EAAB 2017/18 Performance Plan.