Thank you 1. Pro-active leadership 2. Real leadership take times to give time to further a cause for all 3. Stand together and advance in life – common goals 4. A strong man stand up for himself – a stronger man stands up for other
ISSUING AND RENEWAL OF FIDELITY FUND CERTIFICATES During the 2012/13 financial year, the EAAB issued 55 232 fidelity fund certificates. Financial Years Comparisons: Fidelity Fund Certificates issued 56000 55000 In the financial year under review, a 54000 T total of 55 232 FFC’s were issued: o 53000 t a 52000 Attorney: 94 l Full Status Estate Agents: 15959 55232 51000 Intern Estate Agents: 14819 F 50000 F Principal Estate Agents: 13323 52423 52304 C Firms: 11037 49000 50422 49981 Total 55232 48000 47000 FY 08/09 FY 09/10 FY10/11 FY11/12 FY12/13 Financial Years
Geographical Province Grid Report – Estate Agency Affairs Board Fidelity Fund Certificates Issued for 2013 18252 20000 18000 16000 14000 12000 9605 Estate 10000 Agency 8000 5938 Firms 4674 6000 4000 2728 2362 1684 1356 1144 624 395 2000 1322 736 392 428 359 185 0 Estate 120 Agents Estate Agents Estate Agency Firms
STAKEHOLDER ATTENDANCE 1800 WESTERN CAPE 1625 1600 KWA ZULU NATAL 1400 1239 GAUTENG 1200 1000 EASTERN CAPE 713 800 600 FREEE STATE 600 MPUMALANGA 400 250 235 145 115 90 200 NORTH WEST 0 LIMPOPO NORTHERN CAPE
APPOINTMENT OF THE EAAB AS THE PROFESSIONAL BODY OF THE REAL ESTATE SECTOR The Estate Agency Affairs Board has now been recognised by the South African Qualifications Authority (SAQA) as the Professional Body of the estate agency sector on 19 September 2013; It has been acknowledged, that the EAAB is the statutory regulator of a recognised community of expert real estate practitioners; Recognition as a professional body is granted for an initial five-year period and is renewable for subsequent five (5) year periods, subject to the favourable outcome of a monitoring and evaluation process to be conducted by SAQA.
Media Coverage during April 2012 – March 2013 The graph below provides a summary of where the EAAB received free media publicity to the value of R10 647 556.43. The negative coverage was attributed to the dissolving of the previous Board and the appointment of the Administrator. 0% 0% 5% 0% 0% 0% 5% 100% 2% 8% 9% 6% 10% 20% 10% 90% 22% 24% 0% 80% 2% 50% 54% 70% 56% 54% 60% 42% NEGATIVE 100% 50% 95% 92% 90% 85% 80% NEUTRAL 40% 76% 28% POSITIVE 30% 50% 20% 36% 34% 37% 18% 10% 0%
MEDIA TONE ANALYSIS – APRIL – OCTOBER 2013 100% 100% 1 90% 90% 85% 85% 0.9 0.8 0.7 0.6 % of Positive 0.5 Coverage 0.4 % of Neutral 0.3 Coverage 0.2 % of Negative 10% 10% 10% Coverage 5% 0.1 5% 5% 5% 0% 0% 0% 0% 0% 0% 0% 0% 0
THE PROPOSED NEW PROPERTY PRACTITIONERS BILL Developments that have emerged over the past 37 years within the SA economy; Transformation will now be legislated for the sector Job creation will be enhanced Tax compliance will be enforced Disciplinary Hearing ruling will have the status of a judgment in a civil court and must be executed accordingly. Capacitation of the EAAB to deliver on its mandate; Powers of DC will be equivalent to ruling of a magistrate court Existing regulatory mechanism is to be enhanced Inspection powers will be increased Unlawful market practices will be better outlawed -:Buying access to business opportunities -: Limiting the rights of consumers -:
ACCREDITATION OF ESTATE AGENTS BY HOA’S Does a HOA have a legal enforceable right for the actions? Based on what laws do they base their practices? On what bases do they claim a portion of your commission On what basis do they fine the seller for using “outside” estate agents Consumer has choice and should have free market HOA can not infringe on your rights as an estate agent The EAAB does not support the actions of the HOA’s The EAAB do not support illegal practices by estate agents The EAAB supports the rights of sellers and buyers and these rights are better serviced by registered estate agents
Way forward We require that complaints be submitted to the EAAB relating to all the various contraventions and code of conduct violations EAAB will investigate all complaints received and take legal action against the parties Activate the MOU with the National Consumer Commission to work with EAAB on the legal matters of common interest for the benefit of the consumer The HOA’s falls under the Community Scheme Ombud Services. The CSOS will be moving into EAAB offices The Bill will be adjusted to clarify our legal position as aligned with the CPA and outlaw the market practices that are unlawful Prepare for a legal action to the highest courts when needed
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