SA's Commercial Real Estate Sage

The Estate Agency Affairs Board of South Africa ( EAAB ) is the property industry's governing body and controls all the real estate agents and property brokers real estate trading licences. Before applying with the EAAB, you will need to be employed with a registered and licence holding Estate Agency or property brokerage in South Africa.  This firm will need to be registered, have a current company Fidelity Fund Certificate (FFC) as well as have a registered principle agent who holds a Master Practitioner in Real Estate  ( completed PDE level 5 exam ) and A National Qualification in Real Estate Level 5 (NQFL5). To register and apply, you will need a certified copy of your ID ( or passport & work permit ) and a letter from your employer, the registered estate agency/property brokerage, and the firms registered agency pin. * You will notice in the blogs I write estate agency & property brokerage.  The reason for this is that estate agency refers to re...

In terms of the Estate Agency Affairs Act (112 of 1976), every estate agent and estate agency firm must obtain a Fidelity Fund Certificate (FFC) from the Estate Agency Affairs Board (EAAB).  It's illegal to operate as an estate agent unless the EAAB has issued you with an FFC for the current calendar year.  It's also illegal to claim commission if you didn't have a valid FFC at the time you rendered the services to the client. This applies not only to agents who sell residential property, but also to letting agents, commercial and industrial property brokers, agricultural property agents, business brokers, and agents who "exhibit" properties which are for sale or to let. All new entrants to the industry will apply for the FFC as interns and do a one-year internship with the firm.  During their internship, they will do a year-long qualification called the national qualification in real estate level 4 (NQFL4), unless exempted and complete an internship logbo...