select
|

EAAB January 2014 deadline for estate agents to obtain FFCs is unrealistic

It is now absolutely clear that an extension, probably of a whole year, is needed on the January 2014 deadline given by the Estate Agency Affairs Board to unqualified estate agents to obtain the now mandatory NQF4 and NQF5 qualifications, says Tony Clarke, Managing Director of the Rawson Property Group.

At the moment the Estate Agency Affairs Board expects all unqualified estate agents to pass their examinations and to be in possession of Fidelity Fund Certificates (which 'licence' them to operate as estate agents) by the January 2014 date mentioned.

Those estate agents who continue to do estate agency work without their FFCs in 2014 will, says the board, be operating illegally, their documentation can be challenged in law and they will not be entitled to collect fees.

"If the board sticks to their viewpoint," says Clarke, "it will simply mean that for much of 2014 there will be too few estate agents to serve the South African residential market - especially in the previously disadvantaged areas, where currently very few estate agents are fully qualified. Almost certainly then what will happen is that homes will be sold 'illegally', i.e. by estate agents not in possession of FFCs . The residential sector's efforts to transform the industry will be especially hard hit."

Currently, says Clarke, only 32,718 South African estate agents have fidelity fund certificates, 10,373 are estate agency principals,12,160 are full estate agents, 10,183 are interns and 47 are attorneys. The EAAB cannot give accurate figures as to how many of these FFC carrying members have already acquired the mandatory qualifications.

Although 'human nature' (especially a tendency to postpone necessary action) can be partially blamed for the backlog of unqualified estate agents, the inefficiency of the EAAB has also helped to bring about this situation, says Clarke.

"The Board has consistently fallen behind on the deadlines which it was supposed to meet and for a long time, estate agents could not get the basic required training materials. Furthermore the setting up of the Professional Designation Examinations and the supply of training material for this examination are also many months late."

Right now, says Clarke, the EAAB has not yet finalized the guidelines for one of its most important training programmes, the Continuous Professional Development initiative. For this training, which is mandatory for all qualified estate agents, the allocation of points for the various training initiatives has not yet been finalised and no one really knows how to go forward from here on. This, says Clarke, will cause a larger number of estate agents to fall behind on their training schedules.

On the positive side, said Clarke, it has to be recognised that the level of professionalism which the Estate Agency industry is now aiming at will make South African estate agents the best qualified and most regulated in the world today. While this is in every way to be welcomed, he said, it should also be recognised that over regulation can destroy initiative.


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 22 Nov 2017
      Most people know of the Community Schemes Ombud Service (CSOS) and that levies must to paid to fund its operations. In this article the experts at Paddocks will address some of the issues that are causing confusion.
    • 22 Nov 2017
      While sales have noticeably slowed in most sectors in most Cape town suburbs, the security estate sector in Constantiaberg has bucked the trend by remaining buoyant, with sales by August this year already surpassing total sales in 2016.
    • 22 Nov 2017
      The end of the year is fast approaching, and so are all the travellers, tourists and holidaymakers. For those who live near or own a property in a holiday-hotspot, the festive season also brings with it an abundance of short-term rental opportunities. Its a great way for property owners to make a few extra rand for their own holidays or to put towards their savings.
    • 21 Nov 2017
      The buying process is over, and the moving truck has delivered your household goods to your new property. Now it’s time to unpack and turn your new house into a home.
    • 21 Nov 2017
      When an offer to purchase a property is signed by both buyer and seller, this constitutes a binding agreement or “Deed of Sale” between the two parties. However, in most cases the “standard contract” might not be enough to cover all the specifics pertaining to the sale. The agreement may require some additions or alterations to clauses, which needs an expert hand in the drafting of such
    • 21 Nov 2017
      As more and more South Africans look to invest in property abroad, Spain is offering them one of the best deals in global real estate.
    • 20 Nov 2017
      Since 2012, sectional title complexes have been leading the South African property market, not only in terms of price growth, but sales volumes as well. Remaining relatively strong, even in the face of 2017’s political and economic turmoil, experts say this market segment could offer valuable insight into South Africans’ property purchase priorities.
    • 20 Nov 2017
      Regardless of whether you are purchasing your first start-up home, downsizing or moving in with roommates, finding ways to maximise small spaces can be a big advantage, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa.
        
    X
    Subscribe to the MyProperty Newsletter

    Name  
    Last Name  
    Email Address  
    Email Frequency
    select
    X
    Share this Page

       
    For Sale Property
    Rental Property
    More Options
    About
    Connect with us
    FEEDBACK