Enforcement

The Estate Agency Affairs Board (EAAB) was established in 1977 in terms of the Estate Agency Affairs Act 112 of 1976 (‘the Act”), with the mandate to regulate and control certain activities of estate agents in the public interest.  The EAAB regulates the estate agency profession through ensuring that all persons carrying out the activities of an estate agent as a service to the public are registered with the EAAB. A Fidelity Fund Certificate, which is to be renewed each year is issued as evidence of such registration and confirmation that such person is legally entitled to carry out the activities of an estate agent.  A core function of the EAAB is to manage and control a Fidelity Fund, the Estate Agents Fidelity Fund (Fidelity Fund), in the interest of the public and estate agents registered with the EAAB.

Enforcement Department is responsible for Inspections and Investigations, Disciplinary and Claims.  The core function the EAAB is to enforce industry compliance through effective regulation. The EAAB is therefore responsible for ensuring that all estate agents are issued with a valid Fidelity Fund Certificate (FFC) on time in order for them to trade legally.  The EAAB is also responsible for the professionalisation of the industry by ensuring that every person trading as an estate agent acquires the right qualifications as prescribed in the legislation that came into effect on the 15 July 2008.

To ensure full compliance with the Estate Agency Affairs Act of 1976, the EAAB must conduct regular inspection of all registered estate agents.  Failure to comply with the regulatory requirements will lead to an estate agent being taken through a disciplinary process.  The EAAB is empowered by law (Act 112 of 1976) to protect consumers against unscrupulous estate agents and those agents who generally do not follow the code of conduct.  Therefore, the EAAB has the responsibility to process all claims lodged against the Fidelity Fund by members of the public as a result of misconduct by estate agents.