Resource file for agents from IEASA

The Institute of Estate Agents of South Africa (IEASA), which operates through the management of some 80 board directors throughout the country, has compiled a list of resources for estate agents in response to the many queries they get about various aspects of qualification, laws, training and legal requirements.

Lanice Steward, IEASA national director and regional chairman of IEASA Western Cape, says that although agents need to be licensed through the Estate Agency Affairs Board and get their fidelity fund certificates, the learning takes time and this is where the institute steps in.

“Navigating your way through the many different requirements can be confusing, and the IEA resource file will be added to when it is necessary. So far, it lists various organisations that agents or property practitioners will need to be in contact with such as the Financial Intelligence Centre, Estate Agency Affairs Board, the Rental Housing Tribunal, Deeds Office, SARS, Services SETA, and so on. It also explains what each organisation does, and has all the contact details listed,” says Steward.

The file lists legal resources agents will need, such as various acts, bills and draft bills, the Consumer Protection Act, Rental Housing Act, FICA, and others, as well as brief explanations of each one and where to find a copy of each document.

The document includes descriptions of processes that are necessary for estate agents, such as the acquiring and keeping of FFCs, audit processes, how to go about submitting an annual audit and why this process is necessary, as well as all the relevant contact information for the EAAB if assistance is needed.

“It is vital for agents to keep up to date with current laws on property dealings as well as the running of their businesses. There are constant changes to legislation and agents need to be proactive in finding out about their areas of expertise, such as agricultural land, rentals, sectional title or managing a property business,” says Steward.

Email for an application form to join a regional branch of IEASA.

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