Advice and Opinion

IEASA Notification: Required Disclosure by Intern Estate Agents

Intern estate agents are reminded that they are obliged, pursuant to the provisions of regulation 2(4)(a) of the Standard of Training of Estate Agents Regulations, 2008, to disclose the fact that they are intern estate agents on all printed material relating to their activities as estate agents. They are required, therefore, specifically to disclose the fact that they are intern estate agents on, for instance, all business cards, letterheads, pamphlets, brochures and any form of advertising, save only for advertisements appearing in the ‘smalls’ section of the press.

Intern estate agents may not, whether directly or indirectly, hold themselves out or advertise that they have complied with the prescribed educational requirements or that they are full status estate agents.

Intern estate agents may also not complete or draft any documentation relating to any transaction negotiated by them, in their capacity as intern estate agents, otherwise than in the presence of a principal estate agent or of a full status estate agent who has continuously held a valid fidelity fund certificate for a period of at least three years. That principal or full status estate agent must, in addition, certify on the documentation in question that such documentation was completed in his/her presence.