Principal Estate Agents
Principal Estate Agents
The Estate Agency Affairs Board is presently being rather flexible, where principal estate agents are concerned until such time as the NQF Level 5 qualification is fully up and running;
If a person, at the moment, qualifies for registration as a principal estate agent, whether through having passed the previous Board examination or by reason of holding a qualification that is deemed to be equivalent to the NQF Level 5 qualification for this purpose, such person will be permitted to
register as a principal estate agent;
In the former case the principal will, of course, be required to complete the NQF Level 5 qualification or an acceptable equivalent, whether through training or by undergoing the RPL route, by no later than the end of 2011;
Having achieved principal status the persons concerned may then proceed to undertake the Professional Designation Examination (PDE) so as to obtain professional recognition as a principal estate agent;
It should, again, be emphasised that once the principal’s course has been successfully rolled out by the EAAB it will be required of all newcomers to the estate agency profession who wish to act as principal estate agents:
- First to complete the compulsory one year internship period as an intern estate agent;
- To acquire the Level 4 qualification, or an acceptable alternative; and
- Then to attain the Level 5 qualification, or an acceptable alternative; before they may be registered as principal estate agents.
New entrants wishing to act as principal estate agents must be certificated against the National Certificate: Real Estate.
This qualification not only adds value to the understanding of the property and real estate sector by principal estate agency practitioners but also enhances their appreciation of the practical functionalities occurring within the workplace;
The qualification is also intended to build on the skills that have been gained in the Level 4 qualification and will, essentially, consolidate the broad knowledge, skills and values required in the property and real estate profession;
The new entrant may, similarly, be certificated against the qualification after undergoing training through an accredited education provider or by way of the Recognition of Prior Learning route;
The completion of the Further Education and Training Certificate: Real Estate or the National Certificate: Real Estate, as the case may be, constitutes a precondition for admission by the professional estate agent to the Professional Designation Examination (“PDE”) which is a practical and integrated test of knowledge for estate agents that will be conducted by the Estate Agency Affairs Board;
The PDE is the final test of the estate agent’s ability practically to implement and apply the learning that has been achieved and successful candidates will be awarded a certificate of professional recognition by the Board.
Continuous Professional Development (CPD)
A continuing professional development programme will also be implemented in accordance with current best practice requirements in most world-wide real estate regulatory jurisdictions. One of the major intentions of the Board in introducing outcomes based education for estate agents was to raise societal perceptions of estate agents to professional status. It is increasingly accepted that members of a profession should maintain their professional standing through continuing professional education and development.
Estate Agency Affairs Act, 1976: Download
Principal Estate Agents
