All agents, principals and directors of a company need to be registered with the EAAB and have a Fidelity Fund Certificate in their possession if they want to trade as an estate agent. Failure to comply with the registration carries a fine of up to R25 000.00. An agent that is not registered is also not entitled to commission.
- Registration of an Estate Agency
This section is covered under clause 13.
Once you have obtained your company pin, beginning with an “F” you can register your agents. We suggest that the principal handles the entire registration process, initially using their own email address. Once the registration is complete the email address of the agent should be updated.
All FFCs (Fidelity Fund Certificates) automatically expire on the 31st December annually and payment for the following year’s certificate needs to be made by the agent on or before the 31st October annually. Failure to register by that date results in the EAAB charging a late payment penalty. The renewal fees are available on the EAAB website.
- Registration of an Estate Agent
All registrations shall be performed on the MyEAAB Agents Portal accessible through the EAAB website at www.eaab.org.za/myffc.
- The following documents are required BEFORE beginning the registration process.
- Certified copy of Identity Document – (South African citizens and permanent residents).
- Certified copy of Passport and work/business permit issued by the SA Department of Home Affairs – (Foreign Nationals).
- Letter of Employment signed by the Principal (see attached example).
- Firm Pin Number – the firm must be in possession of a valid FFC.
- Seven-digit EAAB reference number of the principal or full status agent overseeing an intern.
- Payment of the application fee of R529.80 (currently) to the EAAB using ONLY THE AGENT’S SEVEN-DIGIT PIN NUMBER ISSUED TO THEM UPON REGISTRATION.
- EAAB Bank details are as follows:
ABSA ACCOUNT NAME: Estate Agency Affairs Board
ACCOUNT NO.: 405 203 3310
BRANCH NAME: Universal
BRANCH CODE: 632005
- Email the certified ID, letter of employment, and proof of payment to email@example.com
- Regularly check for the new certificate or follow any procedures the system is requesting.
Should an agent previously registered with another company join you, the agent (preferably the principal) should login to their profile and under “Manage your Employment” do the following:
- Change your employment
- After 48 hours link a new employer and upload the new employment letter
- Make a payment of the transfer fee of R345.00 (currently – please check the EAAB website for confirmation)
- Once completed, follow up on the site and download the new certificate.
- Should you experience any problems kindly contact Head Office for assistance.
For more information please see insert below:
The following notes have been taken from the EAAB website:
Intern Estate Agents
In terms of the Standard of Training of Estate Agents Regulations, 2008 (“the Education Regulations”), all persons seeking to enter the estate agency profession are required, as from 15 July 2008, first to serve as intern estate agents, acting under the supervision of a principal estate agent, for a continuous period of twelve months calculated from the date of the first issue to those new entrants of intern fidelity fund certificates by the Estate Agency Affairs Board (“EAAB”). This requirement applies to all new entrants, or intern estate agents, regardless of any academic, professional, or other qualifications which they may hold.
To accommodate the peremptory internship requirements of the Education Regulations, the EAAB has introduced a mandatory one-year program for intern estate agents effective from 02 January 2013. The program has been specifically designed to facilitate and monitor the induction of intern estate agents into the estate agency profession and applies to all new entrants, or intern estate agents, regardless of the future status to which such persons aspire and/or of their current academic, professional or other qualifications.
The maintenance of a mandatory workplace learning program logbook and workplace portfolio of evidence (PoE) constitutes an integral component of the entire program. The EAAB has, to this end, compiled a draft logbook for use by both intern estate agents and their principals (or mentors).
In terms of the Education Regulations, only persons who have held three consecutive FFCs and still hold the current FFC may be appointed and serve as mentors for intern estate agents. This means only full status estate agents at the principal and non-principal status are allowed to play the role of the mentor.
The Mentor will be responsible to monitor intern performance and learning throughout the prescribed 12-month internship period and sign-off the intern Logbook and evidence accordingly.
The intern estate agent is expected, during the course of the twelve-month internship period, to complete and maintain a logbook in which accomplished activities are not only fully recorded but, also, signed-off by the principal/mentor/coach/supervisor (“the principal”) assigned to assist and provide the intern estate agent with logistical support during the internship period. It is anticipated that this requirement will ensure that the intern estate agent is provided with a personal record of all practical tasks completed and experience gained at the workplace.
It is important to note that all interns are required to upgrade from intern estate agent to full status within a 24-month period. No intern is allowed to remain an intern past this period. Therefore it is important to ensure that the Intern Logbook and the prescribed qualification is complied with within the first 12 months of the internship period and focus is on PDE 4 thereafter, in order to upgrade to full status by end of the 24th month. No intern estate agent will be allowed to renew their FFC beyond the 24th month. Disqualification of the intern will be effected at month 24, to ensure the intern is compliant before allowed to re-register as an estate agent.
For more information please see the inserts below:
There are many FET colleges that offer the SETA qualifications and agents are free to choose who they would like to qualify through.
We aim to upload various completed NQF 4 qualifications on the training site. This is still in the planning stage and will be uploaded when ready. The notes will be available for viewing only, as agents are encouraged to do their own work and submit their own understanding of the questions asked in their study material.
NQF 5 completed manuals being made available for the view is still under consideration.
For further information kindly view and familiarise yourself with the information given by the EAAB on their website.