Industry Members

As Practice Notes constitute an invaluable mechanism for the implementation for the Estate Agency Affairs Act and regulations promulgate thereunder, Stakeholders are advised that it is in their best interests that they are aware of the contents of such Practice notes.

The Consumer Protection Act 68 of 2008, ("the CPA"), was signed on 24 April 2009 and has since been promulugated in the Government Gazette.

Speaking at the Department of Trade and Industry's Consumer Rights Day conference in March, the Deputy Minister Ms Maria Ntuli reminded delegates that the new law demands that government must support civil society to build up a strong consumer voice.

South African consumer confidence was little changed in the third quarter, close to the highest since the last three months of 2007, as Africa's biggest economy pulls itself out of recession.

By law, all firms (Agencies) must have a trust account when registering, as well as appointed auditors to audit this account.

Please see the Estate Agency Affairs Board current Schedule of Fees and Banking Details.

Estate Agencies are reminded of the due date for the submission of Auditor’s Reports which is four months from the financial year end of each Estate Agency.

As part of the Estate Agency Affairs Board statutory mandate and legislation, it is the requirement of all estate agents wishing to operate within the residential property industry to be in possession of a valid Fidelity Fund Certificate (FFC).