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This presentation outlines the background, progress, and major events and achievements of the Estate Agency Affairs Board (EAAB) as of November 2013. Topics covered include board induction, board meetings, appointment of the CEO, and collaboration with other organizations.
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ESTATE AGENCY AFFAIRS BOARD PORTFOLIO COMMITTEE ON HUMAN SETTLEMENTS 14 NOVEMBER 2013 DIRECTOR-GENERAL Mr T ZULU
PRESENTATION OUTLINE • Background • Progress of the Board • 2.1 Board induction • 2.2 Board meetings • 2.3 Appointment of the Chief Executive Officer • 2.4 Major events and achievements by the EAAB 1
1. BACKGROUND The Estate Agency Affairs Board (EAAB) is an entity established in terms of Estate Agency Affairs Act, 1976 (the Act). The primary mandate of the EAAB is to maintain and promote the standards of conduct of estate agents and to regulate the activities of the estate agents. The entity is governed by the Board of directors appointed in terms of section 3 of the Act. The current Board was appointed on 1 January 2013 by the previous Minister of Human Settlements which he announced on 7 March 2013. 2
2. PROGRESS OF THE BOARD 2.1. Board induction On 22 April 2013 the Board was inducted on its mandate and fiduciary duties as required by the King III Report. 2.2. Board meetings The Board held its first meeting with the Minister on 10 April 2013 as required by section 4(1) of the Act. The Board at its meeting held on 10 May 2013 appointed Professor Kwandiwe kondlo as the Chairperson and Ms Maletsatsi-Maceba Wotini as the Deputy Chairperson of the Board. These appointments were made in terms of section 3(4) of the Act for a period of twelve months. 3
2. PROGRESS OF THE BOARD 2.3. Appointment of the Chief Executive Officer The Board appointed Mr Bryan Chaplog as the Chief Executive Officer of the EAAB with effect from 1 October 2013. 2.4. Major events and achievements by the EAAB The South African Qualifications Authority (SAQA) has appointed the EAAB as the professional body for the estate agency sector . The EAAB met with the Director-General of Public Works to establish a project group that would ensure that the public sector only makes use of transformed registered estate agents when dealing with immovable property transactions. 4
2. PROGRESS OF THE BOARD The EAAB established a provincial panel of inspectors to assist with the inspection of estate agents with a view to improve consumer protection. The following was achieved at the Association of Real Estate License Law Officials (ARELLO) Conference of 18 September 2013: The EAAB won an international award for the PDE5 study material. The Deputy Chair was appointed as the Vice-President of District 5 which covers the entire world except the United States of America (USA). The CEO and the Company Secretary were appointed to the Board of the ARELLO. 5
2. PROGRESS OF THE BOARD The EAAB held national road shows regarding the roll-out of the Finance Linked Individual Subsidy Programme (FLISP) and the value add of the various role-players. The EAAB held national road shows regarding the proposed property practitioners Bill. The EAAB implemented an electronic Fidelity Fund Certificate application system (MYEAAB), where estate agents can transact with the EAAB through an electronic portal. The EAAB established national relationships with the Black Conveyancing Association to create additional capacity in the GAP market and to provide housing consumer education and professional services in the fully subsidised and GAP market. 6
2. PROGRESS OF THE BOARD The EAAB developed the one estate agency / one intern initiative. The initiative will be rolled-out in terms of the National Skills Development Framework III. It is expected to create 10,000 job opportunities. 7
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