The Estate Agency Affairs Board (EAAB) was established in 1977 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 EAAB is listed as a Public entity in terms of the Public Finance Management Act (PFMA) Act 1 of 1999.This legislation places responsibility on the Board of the organisation, as the accounting authority, to manage the resources in a manner that encourages efficiencies and accountability for the use of public funds. A key responsibility is to present to the Executive Authority with an annual Strategic plan for a rolling three year period.An additional responsibility conferred on the EAAB is to be supervisory body in terms of the Financial Intelligence Act.

A core function of the EAAB is to manage and control a Fidelity Fund, the Estate Agents Fidelity Fund (Fidelity Fund), in the interest of the public and estate agents registered with the EAAB.

MANDATE OF THE EAAB
The primary statutory mandate of the EAAB is to:
a) regulate, maintain and promote the standard of conduct of estate agents having due regard to the public interest;
b) issue fidelity fund certificates to qualifying applicants;
c) prescribe the standard of training and practical experience of estate agents;
d) investigate complaints against estate agents and institute disciplinary proceedings against offending estate agents where required; and
e) manage and control the Estate Agents Fidelity Fund.

The secondary mandate of the EAAB
The EAAB is, furthermore, mandated to act as the Supervisory Body of the estate agency profession in terms of the provisions of the Financial Intelligence Centre Act and to take all steps required to prevent, alternatively identify and report on, money laundering and terrorist financing activities.

VISION
To be a world class regulator that is responsive to, and surpasses, its stakeholder needs and expectations.

MISSION
To regulate, protect, guide and enhance the integrity of the real estate profession.

VALUES
a) Integrity: Quality of adhering to high moral principles and/or professional standards
b) Responsibility: The authority to make decisions independently and to be accountable for something or someone;
c) Excellence in service delivery: Exceed client expectations is service delivery;
d) Communications: The effective exchange of information between individuals and/or organisations by using written and verbal means and in such a manner that there is a mutual understanding;
e) Responsibility: Doing what we have promised;
f) Participation: Involving all relevant stakeholder in what we do; and
g) Integration: Working together in service delivery

The Mandate & Business of the EAAB:

• Mandate of the EAAB
• Vision
• Business Drivers