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Stakeholders to sort out problems in real estate industry

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The Institute of Estate Agents of South Africa (IEASA), as a member of a multi-stakeholder group, reports that they, with the Real Estate Business Owners of South Africa (REBOSA), National Property Forum (NPF), South African Property Owners Association (SAPOA), and the National Association of Managing Agents (NAMA), as representatives of the real estate industry, have joined forces to work together with the Estate Agency Affairs Board (EAAB) to sort out issues that have confronted agents up to now, says Lanice Steward, president of IEASA.

There are various issues currently being addressed, namely, Fidelity Fund Certificates (FFCs), e-learning, and continuous professional development (CPD), says Steward.

If agents have not yet received their FFCs, they need to be aware that if the payment was made on October 31, 2015 for their 2016 certificate, the payment might only have reflected in the EAAB’s bank account on November 1. In this case the system would have recognised the payment as a late payment and would automatically have triggered a penalty due.  The FFC, according to the system, can only be issued once the penalty has been cleared so if agents know that their payments were made timeously they need to send proof of payment through to the EAAB to rectify the matter. This, of course, can be avoided by paying early, she says.

e learning resizeE-learning will be made available via the EAAB website from April 1 and those using this system can also gain CPD points for 2015, which they were unable to accumulate last year. It is important for agents to complete these courses and to understand that CPD is a reality in the industry and if not completed in the necessary time period there will be consequences, she warns.

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