Industry Members

IMMEDIATE RELEASE

10 October 2011

THE ESTATE AGENCY AFFAIRS BOARD FORGES AHEAD

Professional Designation Examination (PDE)

The first Professional Designation Examination (PDE), leading to the professional designation of estate agents, was held by the Estate agency affairs Board (EAAB) countrywide on 18 August 2011.  “The EAAB is proud of the success of the pioneer PDE candidates, 70% of whom were successful.  By regulating the industry in this way, the EAAB islaying the foundation for estate agency practitioners to take pride in their profession,” says Bryan Chaplog Acting CEO of the EAAB.  Successful estate agency practitioners will be granted the use of the designation “Professional Practitioner in Real Estate (PPRE)” for non-principal estate agents and “Master Practitioners in Real Estate (MPRE)” for principal estate agents.  Such designations represent the accreditation by the EAAB to consumers of the professionalism of the practitioner concerned.  The next PDE will be held on 10 November 2011 and the EAAB is confident that even more candidates will be successful in proving their professional competencies and practical estate agency abilities.

 Fidelity Fund Certificates

The EAAB is pleased to announce that it has introduced an online registrations ‘MyEAAB’ portal on its website.  This will enable all categories of estate agent to register online when renewing fidelity fund certificates and also facilitate the registration of new entrants to the estate agency profession.  The EAAB is extremely proud of this new innovation and is confident that the ‘turn- around’ time for the issue of FFC’s will be substantially reduced, thus enabling it to comply with its statutory mandate to the satisfaction of stakeholders.  The ‘MyEAAB’ portal on the website is an online secured tool giving access to all information on the EAAB database to registered estate agents who will also be able to update such information from time to time as they are obligated to do.  The ‘MyEAAB’ portal will also provide information on the educational requirements for estate agents who will, at a glance, be able to provide assurance to clients that they are practioners in good standing with the EAAB.

 Inspectorate

It is an imperative of the EAAB to deal with unregistered estate agency practioners.  The EAAB as a result, is steadily clamping down on illegal operators and improving its inspectorate capacity having regard to the fact that it is a core function of the board is to enforce industry compliance through effective regulation.   “The EAAB cannot ignore the issue of illegal traders who are operating in the sector and who continue to be a threat to the profession and consumers says Chaplog.  “It is therefore important that the EAAB encourage illegal traders to comply with the Act“.

Inspections have thus far been carried out in Gauteng, KwaZulu-Natal and the Western Cape, where, according to the records of the EAAB, some 80% of estate agents are located.  During these inspections the vast majority of enterprises were found to be non-compliant ranging from the relative minor to extreme acts of non-compliance.  All cases of non-compliance will be followed up with 90 days and strict measures taken against offending estate agents who have failed to remediate the error and/or omissions identified.

The disciplinary unit of the EAAB has also made significant advances in the investigation and resolution of complaints received from members of the public against estate agents. During the last financial year, the EAAB received 1 597 new complaints. Of these, 758 were successfully resolved and 839 referred for further investigation.

Some 172 were sent to different disciplinary committees of inquiry: 112 convictions were secured; 29 respondents were found not guilty of conduct deserving of sanction and acquitted; 15 matters postponed at the request of one of the parties, and a further 16 matters were postponed at the request of the relevant committee of inquiry for further investigation.

“This is a difficult time for the sector.  South Africa’s democratic transformation has introduced many new consumers, many of whom are unaware of their rights, into the property market. This creates fertile ground for unscrupulous estate agents to take advantage of consumers,” concludes Chaplog, however, the EAAB will continue in its endeavors to sift out the bad.

Chaplog emphasized that the EAAB was continuously effectively and efficiently discharging its statutory mandate and that rumours and speculation to the contrary were totally unfounded and without any truth.   He further emphasised that the EAAB was pursuing its statutory functions with vigour and that it was anticipated that with the implementation of the current turn-around strategy a new era would soon dawn where the problems of the past would be relegated to history.

Ends/

Margie Campbell

Acting HOD Marketing & Communications Manager

Estate Agency Affairs Board

Tel: 011 731 5633

Fax: 0865 403 663

Email: Margie@eaab.org.za

Website: www.eaab.org.za