Estate Agency Affairs Board Bulletin re: FFC's for 2020 & CPD points allocation - 12 Dec 2019

Estate Agency Affairs Board Bulletin

The Official Communique of the Estate Agency Affairs Board

12 December 2019

All Fidelity Fund Certificates to be issued within a week

This week the EAAB CEO, Ms. Mamodupi Mohlala met with the Real Estate Business Owners of South Africa (REBOSA) chairman Mr. Jan Le Roux to discuss amongst other things, the timeous issuing of Fidelity Fund Certificates (FFC) to legally compliant estate agents.

In terms of Estate Agency Affairs Act all registered estate agents are required to be in possession of a valid FFC to be able to trade.

As of Tuesday December 10, 2019  a total of 29 272 compliant estate agents applied and paid for the FFCs. By 4pm on Thursday December 12, 2019 the EAAB had issued 20 908 FFC’s.

The current batch of FFC’’s issued will be valid for the 2020 year.  The EAAB will provide an updated number at noon on Friday December 13, 2019.
Ms. Mohlala assures the industry that a final report will be distributed to industry by 20 December 2019 on which day all valid and compliant FFCs would have been issued.

Estate Agents urged to contact the EAAB over CPD points errors 

The Estate Agency Affairs Board (EAAB) is committed to ensuring that it regulates the property sector in the interest of consumers and its stakeholders.
In terms of the Education Regulations, all estate agents are required to attend the Continuing Professional Development (CPD) programme, which is aimed at empowering them and keeping them abreast of all relevant developments.
During a meeting with REBOSA, Mr. Le Roux brought to the attention of the EAAB that some estate agents who have complied with their CPD requirements have not been allocated their CPD points.

When the issue was previously raised by REBOSA, the EAAB took a proactive step by establishing a task team comprising of staff members from various units. The sole aim of the task team was to look into the CPD challenges and help expedite its resolution.

Thus far, the task team has managed to resolve most of the cases brought to its attention and is currently in the process of finalising the outstanding ones.
The EAAB appeals to those experiencing challenges with the CPD and point allocations to contact Thabang Modise at by no later than 19 December 2019.

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