IEASA National - News

EAAB cracking down on conveyancing kickbacks   Article Date :25 Oct 2005 Warning to estate agents who may be receiving inducements. The Estate Agency Affairs Board (EAAB) has instituted disciplinary proceedings against estate agents who have allegedly received inducements from conveyancers in return for the referring of conveyancing work. The Board made known its action in an e-mail to Arnold Nel, Chairman, Institute of Estate Agents (SA) Pietermaritzburg & Interior region, in response to Nel airing concerns about the practice in a letter to the board. The board's response to Nel, makes clear that it is “receiving the full cooperation and support of the various provincial law societies” and gives the assurance that it will keep readers of The Agent informed of all developments regarding these matters. The e-mail is signed by Clive Ashpol. Nel, in a letter to this website that includes the Board’s comments, “encourages everyone to cease all such activities in respect of accepting and or asking for monetary incentives/inducements from conveyancer's.” He warns that transgressors “will be severely punished by the board.” CLICK HERE TO RETURN TO THE MAIN NEWS PAGE