Advice and Opinion

Time is running out for estate agents

Some estate agents still seem inclined to ignore the fact that all estate agents now have to obtain the Further Education and Training Certificate in Real Estate (which is on Level 4 of the National Qualification Framework) and this has to be done by 30th June 2015.  Similarly, all real estate business owners must obtain the National Certificate in Real Estate (NQF5) by that date. 

“Time is running out for unqualified estate agents, some of whom still seem to think that a further extension may be given or even that the new educational regulations set up by the Estate Agency Affairs Board will somehow be set aside,” said Barry Fourie, head of the Rawson Property Group’s Training Academy.

Agents who already have a valid Fidelity Fund Certificate duly issued by the Estate Agency Affairs Board as at 15th July 2008, said Fourie, can obtain the new qualification through the Recognition of Prior Learning provision. New entrants are required to do a 12 month learnership with an accredited training provider while completing a log book of activities as intern estate agents.  These log books must then be sent to the Estate Agency Affairs Board at the end of the 12 month intern period.

After obtaining the statutory qualifications, estate agents are required to write the Professional Designated Examination (PDE) of the Estate Agency Affairs Board.  Agents that pass the PDE are entitled to use the designation: Professional Practitioner in Real Estate (PPRE).  Business owners that pass the PDE are entitled to the designation: Master Practitioner in Real Estate (MPRE).

Agents are also required to complete further training in Continuing Professional Development (CPD) during a three year cycle to ensure that they keep up-to-date with changing legislation and trends.

The Rawson Training Academy, an accredited provider of training, fully supports the drive by the Estate Agency Affairs Board to professionalise the real estate industry, said Fourie. He added that the measures taken so far have already ensured a marked increase in the standard of people serving the industry.

Fourie cautioned estate agents to make sure that they use only accredited training providers to obtain these qualifications.

“Agents must be aware that, at this stage, only the Estate Agency Affairs Board is an accredited provider of Continuing Professional Development.  Agents should not be fooled by training providers claiming to offer CPD courses when they are in fact not licenced to do so.”

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  • At R2,000 to R2,500 per registered estate agent, the governments Estate Agency Affairs Board will rake in about R80 MILLION in fees just for 2015.

    Not bad for organising a few lectures around the country!

    I wonder what happens to the balance of cash.

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