In REBOSA Reports

Rebosa Consumer Campaign

  

Given the digital age we live in, the many online platforms and Apps available and the constant hype around agents’ commission, many consumers believe they can sell or buy a home online, thereby cutting out agents and the paying of commission.  

We all know that many sellers / buyers don’t realise that real estate transactions are fraught with ups and down, ins and outs, and pitfalls along the way to the successful conclusion of a sale.

Rebosa have launched a series of Consumer Adverts to combat this thinking and to highlight and promote the importance of retaining a “Rebosa Member Estate Agent” for all property transactions.

Attached are a few of our adverts that will be featured in major publications in the weeks to come.

If you require more information on this campaign then please don’t hesitate to contact us on info@rebosa.co.za

Make sure your auditor does it

The submission deadline of 30 June 2017 for estate agency firms with a financial year-end of 28 February 2017 is imminent.

Please note that the sole manner of submission of audit reports is uploading them on the MyEAAB Auditors Portal, accessible on www.eaab.org.za/myaudit.

Please refer to the EAAB notice attached.

Should your auditors be unable to upload your audit reports due to EAAB website technical or functional glitches please remind them to take screenshots as proof of attempt at submission so that you will not be penalised due to system failure.

Remember, if your auditor fails, you take the blame. The responsibility remains yours.

IT3b Certificates

In instances where estate agencies experience delays in obtaining IT3b certificates for trust accounts from the banks, it will be acceptable for the auditor to attach a covering letter (in place of the IT3b certificate) explaining the reasons why the IT3b certificate could not be obtained and attached when submitting the audit report online.

The EAAB have underlined that the delays or difficulties in obtaining the IT3b certificates from banks should not delay the submission of the audit reports within the prescribed four months after the financial year end.

Amended Property Sector Code

The Amended Property Sector Code was gazetted on Friday 9 June, 2017 – Gazette Number 40910.

This amended sector code (including the scorecard incorporated therein) applies to all privately owned and public enterprises within the property sector. In addition it is binding to all organs of state and public entities, organized labour and communities involved with or interested in the Property Sector.

The full document is available for download on Rebosa’s website – https://www.rebosa.co.za/wp-content/uploads/2017/06/GN-560-40910-Amended-Property-Sector-Code.pdf

Property Sector Charter Council State of Transformation Report for the Property Sector

The Property Sector Charter Council recently  launched the PSCC 2015-2016 State of Transformation Report for the Property Sector to coincide with the gazetting of the long-awaited Amended Property Sector Code (June 2017 Gazette no. 40910) on Friday, June 9, 2017.

The full report can be downloaded on Rebosa’s website – https://www.rebosa.co.za/wp-content/uploads/2017/06/PSCC-SOT-Report-Final-2017.pdf

Property Practitioners Bill Roadshows

We have spent the month of June conducting roadshows around the country to unpack the Bill and alert agents and Principals of the flaws in the “Bill” in its current form.  Rebosa have submitted its commentary on the Bill to Parliament, the Minister and the Department.  We have also been attending the Public Participation hearings hosted by the Department to highlight our concerns.

We received an overwhelming response to these sessions and would like to thank those of you who attended.  We would also like to thank ABSA for their generous sponsorship of these events.

We will be issuing CPD points to all those who attended during the course of the next week.

Should you have been unable to attend, please visit our website where you will find our commentary as well as Questions and Answers to the clauses in the “Bill” – https://www.rebosa.co.za/property-practitioners-bill-qa/

Realignment of Real Estate Qualifications

The following real estate qualifications are currently registered on the National Qualifications Framework and are a core part of the ongoing education, training and professionalisation process of the real estate sector. They fall under the occupational qualifications sub-framework and the Quality Council for Trades and Occupations (QCTO).  Delegated QA Functionary is the Services Sector Education and Training Authority (SSETA).

·        National FET Certificate in Real Estate – SAQA ID 59097 | NQF level 4 | Credits 150
·        National Certificate in Real Estate – SAQA ID 20188 | NQF level 5 | Credits 135

Both qualifications registration end dates are 30 June 2018 and the last date for enrolment is 30 June 2019.

The South African Qualifications Authority (SAQA) have stated that these qualifications come from previous qualification development models [legacy qualifications] that are still active and therefore; need to be taken through a ‘conversion process’.

Following a meeting to discuss this realignment of qualifications with SSETA and QCTO, Rebosa has taken the initiative to form a steering committee comprising of industry leaders and education professionals to comment/submit input on alternative/new occupational qualifications to replace the current NQF 4 and 5 legacy qualifications within the real estate sector.

We will keep you abreast of any developments in this regard.

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