With the year-end rapidly approaching, it is once again Fidelity Fund Certificates (FFC) renewal time for South African estate agents.
In order to deal with the increasing size of the South African estate agency business, the Estate Agency Affairs Board (EAAB) has made it easier for estate agents to obtain their pin number. (This is the number that is required as reference for renewal).
According to Bill Rawson, Chairman of Rawson Properties, estate agents previously had to wait for a renewal notice from the EAAB before they could apply for the renewal of their certificates, causing serious delays. 'However, the EAAB has recognised the need for a more swift approach and has subsequently placed all registered agents pin numbers on their website'
Rawson says that registration has been compulsory since 1977, and it is an offence to practice as an estate agent without being registered at the EAAB. An unregistered agent is prohibited from being paid commission or fees for any services provided while he/she is unregistered.
The deadline for renewals is 31 October and the rates are R855 for principals and R364,80 for estate agents. Payments can be made into the EAABs bank account, quoting the pin number as reference.
