The Estate Agency Affairs Board (EAAB) was established in 1976 in terms of the Estate Agency Affairs Act 112 of 1976 (‘the Act”), with the mandate to regulate and control certain activities of estate agents in the public interest.
The EAAB regulates the estate agency profession through ensuring that all persons carrying out the activities of an estate agent as a service to the public are registered with the EAAB. A Fidelity Fund Certificate, which is to be renewed each year is issued as evidence of such registration and confirmation that such person is legally entitled to carry out the activities of an estate agent.
The Estate Agency Affairs Board (EAAB), which has been reporting to the Minister of Trade and industry since 1976, was transferred to the Department of Human Settlements on 17 May 2012 by Proclamation of the President of the Republic of South Africa.
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CONTINUING PROFESSIONAL DEVELOPMENT (CPD) - UPDATE AND INTRODUCING E-LEARNING
20 OCTOBER 2015
The close of the first year of the first CPD cycle
As the first year of the first CPD cycle draws to a close, it has become apparent that some estate agents on the current CPD cycle may, for one reason or another, have failed to accumulate the required fifteen verifiable CPD points.
Who must register for CPD purposes?
Estate agents are reminded, in this respect, that all persons who held a valid fidelity fund certificate, whether as principal or non-principal estate agents, issued by the EAAB during 2015, excluding only those persons who held intern fidelity fund certificates, were obliged not only to have registered for CPD purposes but also to have accrued fifteen verifiable and five non-verifiable CPD points.
The implementation by the EAAB of a ‘catch-up’ CPD initiative
Mindful of this fact the EAAB has resolved to implement an appropriate ‘catch-up’ programme designed to assist non-compliant participants to obtain any outstanding verifiable CPD points that may still be required.
The form of the ‘catch-up’ programme
The ‘catch-up’ programme will take the form of a CPD e-learning intervention. Such e-learning may be accessed by all participants still needing to obtain verifiable CPD points through the “MyCPD” portal on the EAAB website (www.eaab.org.za) as from 1 November 2015.
Estate agents who enrolled for CPD but failed to obtain fifteen verifiable CPD points
Estate agents who have already enrolled on-line for participation in the CPD programme by completing the required Personal Development Plan (“PDP”) and making payment of the required CPD fee will be given internet access, depending on their individual PDPs, to a video recording of relevant CPD presentations made during the course of 2015, including both the slide presentations utilised by the facilitators at those events and the learning guides provided to event participants. E-learning participants will, after having duly viewed the presentation in question and having also considered the slides and other learning material, be required to answer ten randomly generated multiple-choice questions relating to the presentation in question. Participants correctly answering all the multiple-choice questions will be awarded the three verifiable CPD points for that particular topic. Participants not correctly answering all of the multiple-choice questions will be required to review the presentation and materials until such time as they are able correctly to answer all the multiple-choice questions.
Non-compliant estate agents who failed to enrol for CPD purposes
Estate agents holding valid fidelity fund certificates in 2015, other than intern estate agents, who were, thus, obliged to have registered for CPD purposes during 2015, but failed to do so, will be afforded a similar opportunity to ‘catch-up’ on verifiable CPD points so as to regularise their positions where CPD is concerned. Persons falling within this category may accrue the required fifteen verifiable CPD points needed for 2015. Affected participants are earnestly encouraged to take full advantage of this ‘catch-up’ opportunity. Such participants should, therefore:
Doing so will ensure that hitherto non-complaint persons are not rendered disqualified as estate agents by reason of their failure to comply with the requirements of the mandatory Education Regulations.
After having duly registered for CPD purposes, as set forth above, participants falling within this category will, similarly, receive access to the e-learning CPD material, in accordance with the completed PDP, from 1 November 2015 thereby enabling them to acquire the required number of verifiable CPD points for the 2015 year.
The CPD programme for 2016
Persons who will fall within the second year of the first CPD cycle in 2016
The CPD programme for the ensuing year, which will continue to fill identified education gaps for the profession in a practical, meaningful and positive way, is currently being finalised by the EAAB.
It is envisaged that, in 2016, participants will be afforded the choice of obtaining the required number of fifteen verifiable CPD points by:
It is to be emphasised, however, that a maximum of twelve verifiable CPD points may be earned through using the e-learning method. While participants will, therefore, be obligated to attend at least one contact session, they may choose to attend as many contact sessions as they wish in acquiring the full number of fifteen verifiable CPD points for the year.
CPD fees for 2016 and method of payment
It is not anticipated that there will be any increase in the CPD fees payable by estate agents for the 2016 calendar year.
The CPD fee for 2016 will, thus remain:
Payment for CPD purposes may be made only in full or by way of a debit order instruction over a maximum period of four monthly instalments. Any required debit order instruction should be submitted by the participant to the EAAB by no later than the final deadline for the payment of CPD fees.
Persons falling within the first year of the first CPD cycle, that is, persons entering the CPD system for the first time in 2016
Intern estate agents who obtained full status during the course of 2015 are obliged to register for CPD purposes for 2016. Such persons will, thus, commence the first year of their first CPD cycle in 2016.
Persons falling under this category are required to access the “MyCPD” portal of the EAAB website to register for CPD purposes in 2016 by completing the required Personal Development Plan (“PDP”) and making payment of the applicable CPD fee (R2 500 for principal estate agents and R2 000 for non-principal estate agents).
It is envisaged that persons falling within the first year of their CPD cycle in 2016 will also have the choice of obtaining the required number of CPD points by:
While it is anticipated that the CPD calendar for this category of CPD participants will shortly be finalised, they are requested, in any event, to ensure that they access the EAAB website from time to time to obtain more particularity in this respect.
Issued by: The Estate Agency Affairs Board
ESTATE AGENCY AFFAIRS BOARD
STATEMENT IN RESPECT OF NEW DRAFT REGULATIONS
18 September 2015
ESTATE AGENCY AFFAIRS BOARD TO ISSUE NEW REGULATIONS INTRODUCING NEW LEVIES AND CONTRIBUTIONS FOR PUBLIC COMMENT
Section 33 (1) of the Estate agency Affairs Act, 1976 empowers the Minister of Human Settlements to issue Regulations to promote and advance the object of the Act after consultation with the Board. The operating Regulations that governs the determination of contributions and levies in respect of issue of Fidelity Fund and Registration Certificates, have not been altered since 2006. Throughout these years, as a result of the aftermath of the economic mell-down which lead to unfavourable economic conditions within the real estate sector, the Estate agency Affairs Board felt it prudent to leave contributions and levies payable by estate agents unchanged.
Levies and contributions payable by estate agents contribute immensely to the wellbeing of the Estate agency Affairs Board. Thus, the EAAB is enabled to improve efficiency in its operations to serve its stakeholders who are estate agents and members of the public better and effectively. In this regard, the EAAB has been able to produce a cadre of competent and professional estate agents capable of delivering real estate services competently and diligently whilst at the same time promoting consumer interests.
It is the EAAB’s considered view that the prevailing levies and contributions payable by estate agents have been overtaken by economic and market conditions as well as inflationary considerations. All things considered, the EAAB has planned to introduce new Regulations on levies and contributions which will translate in the increase of levies and contributions with effect from 2017. In this regard, the new Regulations has been published by the Minister of Human Settlements in the Government Gazette No. 39195 on the 11th of September 2015 for public comment. Estate agents are urged to submit comments on the Draft Regulations before the are finalized as Final Regulations. Comments may be forwarded to Thulane Nkambule at Thulane.Nkambule@dhs.gov.za. The Draft Regulations can be accessed from the Government Printing Works website at www.gpwonline.co.za or the Estate Agency Affairs Board website at www.eaab.org.za.
To continue providing excellent service, it is necessary that these increases are introduced to enable the EAAB to service its clients competently and professionally, enforce compliance with the Estate agency Affairs Act, 1976 and the Code of Conduct and to promote the interests of consumers by inspiring greater consumer confidence in the real estate sector generally.
Issued by: THE ESTATE AGENCY AFFAIRS BOARD
The Estate Agency Affairs Board (“EAAB”) accepts no liability whatsoever for the content of the EAAB website or for the consequences of any actions that might be instituted by readers on the basis of articles and/or information appearing on its website. While all information is published in good faith by the EAAB and every possible effort is made to ensure the validity, accuracy and reliability of the information provided, no warranty of whatsoever nature attaches to the content on its website. The EAAB therefore cannot, and does not, accept responsibility or liability for the accuracy, content, completeness, validity, legality or reliability of information contained on its website. Users having specific questions about matters contained on the EAAB website are requested to first contact the EAAB or their legal representatives to obtain the necessary advice.