Welcome to our March report.
We’d like to bring to your attention the recently gazetted regulations in respect of 2017 fees for the issuing of Fidelity Fund and Registration Certificates.
We would also like to remind you that the deadline for CPD payments is 31 March, 2016.
Again, I would like to take this opportunity to thank you for your ongoing support as we navigate our way through these challenging times.
Regulations in Terms of the Estate Agency Affairs Act, 112 of 1976 – Issuing of Fidelity Fund and Registration Certificates
The honourable Minister of Human Settlements, Ms Lindiwe Sisulu, published draft regulations for comment in this regard on 11 September 2015.
REBOSA duly commented. See our submission below for your perusal.
In summary, our commentary addressed the following:-
1. The increase (see table below) is not warranted in view of the funds available to the EAAB to manage its affairs.
2. The increase would impede transformation.
3. The new category in respect of companies and closed corporations discriminates against smaller agencies (and in the process inhibits transformation).
The final regulations were gazetted by the Minister on 26 February 2016.
The following fees effective 1 January, 2017 apply:
|Fees 2006 to Date
1 January 2017
|Levy: Principal Agents||R750.00||R1,200.00|
|Levy: Non-Principal Agents||R320.00||R 510.00|
|Levy: Intern Agents||R 364.80|
|Levy: Company / CC||R1,200.00|
|FFC: Principal Agents||R415.00||R 580.00 *|
|FFC: Non-Principal Agents||R165.00||R 230.00 *|
|FFC: Intern Agents||R320.00||R 165.00 *|
|FFC: Company / CC||R 580.00 *|
* Contribution to the fund is only for first time registrations, conditions apply. (See Gazette)
Our submission was met with marginal success in that a concession has been granted in respect of a new Clause 8 that has been added in terms of which companies or closed corporations operating as estate agencies can apply for exemption from the fee payable, provided its turnover did not exceed R2.5 million for the preceding year. This is not ideal but it does constitute an accommodation that will affect many small businesses positively.
In terms of the current effective regulations, the 26 February 2016 Gazette, makes no mention of VAT whereas that of 2006 (current) did. In terms of the Value-Added Tax Act, 1991 (Act No. 89 of 1991), all prices are deemed to include VAT payable. We will get further clarity on this going forward.
Multi-Stakeholder Group (MSG)
The newly formed MSG is going from strength to strength, having recently adopted its Terms of Reference.
After five meetings, we can report that substantial progress is being made in respect of many issues, while the participation of key industry players in the MSG has grown at the same time. The stakeholders now include REBOSA, IBBASA, NAMA, NPF, IEASA, SAPOA, SAIA and EAAB. This initiative will continue to strengthen the lines of communication between industry and the regulator.
New EAAB Board
The term of the current EAAB Board has now terminated and the Minister will appoint a new board in due course. Nominations were requested.
Property Practitioners Bill
All indications are that the Property Practitioners Bill will be published for comment within the next few months.
Through the MSG platform, we have succeeded in sharing our thoughts and opinions with the EAAB and their legal advisor.
We have subsequently spent more time with EAAB officials in this regard and have managed to convey numerous industry concerns in the process. We await the draft Bill that will be released for public commentary before we can ascertain what will eventually be incorporated.
We will continue to keep you posted, as this proposed Bill will have material and long term effects for the industry.
Electronic Delivery of FFCs
For those of us who have not yet received FFC’s for 2016, there is some good news in the pipeline.
We have again, taken up the issue of the timeous delivery of FFCs with the CEO of the EAAB, Mr Bryan Chaplog, He has responded with “we are close to finalisation” in making FFC’s available electronically.
This will enable agents to download their FFCs from their MyEAAB portal.
The Expropriation Bill has now been published. We include an article courtesy of the Institute of Directors Southern Africa – Contemporary Gazette Volume 11, Issue 2 of 9 February 2016.
This article includes proposals that everyone in the property industry should be made aware of.
REBOSA Equality Pledge
REBOSA launched an Equality Pledge aimed at uniting estate agents to stand up against all forms of discrimination in both their workplaces and in society as a whole.
We thank all of you that have supported the campaign and returned your pledges to us.
As valued members of REBOSA we are inviting you to please participate fully in this campaign by sharing the pledge on all your social media platforms, company websites and email databases. If you can take pictures of you and your colleagues signing the pledges and posting these pictures to your pages, all the better.
This campaign deserves to be highlighted so we can move beyond the stigma that all estate agents are racist and move towards healing, restoration and reconciliation.
The 2016 CPD cycle has commenced. This serves as a reminder that CPD payments must be made by 31 March 2016.
The deadline for completing your PDP was 29 February. If you have not completed your plan, please do so as a matter of urgency so that you are not penalised going forward.
Please complete your PDP before making your CPD payment.
If your points for 2015 are still not reflected on the portal, please let us know as a matter of urgency so that we may assist. You can email us on firstname.lastname@example.org Please remember to include your ID number, EAAB reference number and the dates, times, venues and topics of the events you attended. We cannot help you fast track these points unless we are furnished with all the relevant information.
REBOSA’s staff are constantly inundated with requests for assistance in tracking and allocating payments for CPD, FFCs, PDE Exam’s etc.
It is extremely difficult to allocate and upload payments when incorrect reference numbers are used.
Please may we appeal to you that you use ONLY your 7 digit EAAB reference number as the reference for all your EAAB payments. Do not include your name, surname, name of your agency, description of what the payment is for, or any other reference.
Ref: 1110001 (7 Digit EAAB Ref No.)
Payments made are allocated only by this number and it’s how the EAAB’s system has been programmed. When other references are used, the system kicks out the payment and that’s when manual allocation of payments need to occur, resulting in delays and added frustration.
We thank you for your cooperation in this regard.