FIDELITY FUND CERTIFICATES ISSUED TO ALL LEGALLY COMPLIANT ESTATE AGENTS

20 December 2019

The Estate Agency Affairs Board (EAAB) has successfully processed and issued Fidelity Fund Certificates (FFC's) to all legally compliant estate agents.

EAAB CEO Ms. Mamodupi Mohlala met with Real Estate Business Owners of South Africa (REBOSA) chairman Mr. Jan Le Roux on 10 December 2019 to discuss, amongst other things, the timeous issuing of FFC's to legally compliant estate agents.

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

The EAAB is pleased to announce that by close of business on 20 December 2019, it had processed and issued FFC's to 30 483 fully compliant estate agents who paid within the prescribed period of 1 July to 31 October 2019.  A team dedicated to deal with all FFC related matters finalized the 30 483 FFC's which included:

• 29 727  applications received from legally compliant estate agents by 10 December 2019
• A list from REBOSA; and
• A list from Pam Golding Properties

The EAAB had also set up an email hotline (FFC2020@eeab.org.za) to fast-track the issuing of outstanding FFC's to legally compliant estate agents. By the cut-off time of 10am on 20 December 2019, a total of 301 queries had been logged via the email. This email address has now been deactivated and all queries logged thereon before the cut-off time will be responded to by Sunday 22 December 2019.

All non-compliant estate agents will be dealt with in due course.  The current batch of FFC's issued will be valid for the 2020 year.  

Our offices are closed as of today 20 December 2019 and re-open on 2 January 2020.  The EAAB wishes all its stakeholders in the property sector and members of the public a happy and safe festive season.

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