13 December 2019
The Estate Agency Affairs Board has made significant progress in issuing Fidelity Fund Certificates to all legally compliant estate agents.
As of midday 13 December 2019, 24 993 FFC’s were issued. Of the 29 727 applications received from timely and compliant estate agents, only 4 734 remain outstanding. All the newly issued FFC’s relate to estate agents who have paid within the prescribed period of between 1 July and 31 October 2019 and are fully compliant. These FFC’s will be available on the EAAB portal by 14 December 2019.
FFC’s of estate agents who are compliant but who paid their levy after the prescribed period will be processed by 20 December 2019.
All non-complaint estate agents will be dealt with in due course.
Additional capacity has been made available to reconcile all outstanding FFC’s as matter of urgency.
A report on the progress will be submitted to the EAAB board and industry stakeholders on Tuesday December 17.
In terms of Estate Agency Affairs Act all registered estate agents are required to be in possession of a valid FFC to be able to trade. The current batch of FFC’s issued will be valid for the 2020 year.
The EAAB CEO Ms Mamodupi Mohlala assures the industry that a final report will be distributed to industry by 20 December 2019 on which day all valid and compliant FFC’s would have been issued.