1. The Estate Agent's Professional Home 2. iCourse Graduation 3. The Compliance Column (5) - Fidelity Fund Certificates



The Estate Agent's Professional Home Every professional person needs a professional home. A place where he or she can meet and interact with other members of the professional "family". A base to define his or her place in society. A source of support and guidance through his or her professional life. For estate agents, the Institute of Estate Agents of South Africa is that professional home. Our professional family has grown rather spectacularly over the past few months (we're told that between 1000 and 1500 new agents are registering every month), which means that it's now more important than ever to accommodate our industry's needs. What will the professional estate agent find in the Institute? He or she will find: training courses; workshops and seminars; empowerment opportunities; networking and social events; an online showcase; a code of ethics; dispute resolution; and advice and guidance. Market forces, new laws, and the growing role that estate agents have to play in law enforcement, make thorough training essential for any estate agent wanting to succeed. IEA Western Cape meets that need through a range of regular courses, covering real estate sales; the Estate Agency Affairs Board exam; super sellers (advanced property selling skills); commercial property broking; auctioneering; business broking; property development; starting a business; and showhouse sitters. Because completing a course and passing an exam aren't enough to keep up to date, we provide regular workshops and seminars on topics such as sectional title; legal update; tax; sole mandates; canvassing; rentals; and property management. The IEA fully supports Black Economic Empowerment, and over and above our regular courses, we provide special empowerment programmes for previously disadvantaged estate agents. We are a party to the Property Sector Empowerment Charter, and will be developing additional programmes to help our members to meet their obligations under, and derive benefit from, the Charter as it is implemented from 2006 onwards. Because estate agents work in a demanding, high-pressure world, we host regular events to help them to take time off to unwind. They include: outings; breakfast meetings; golf days; an annual ladies' day; and an annual general meeting and social function. To help our members to stand out from the masses in our over-crowded industry, we display their names, areas of specialisation, and contact details on our website, for the whole world to read. We offer a dispute-resolution service aimed at solving, as smoothly and speedily and inexpensively as possible, problems which may arise between IEA member agents. There are many times when estate agents need expert advice and guidance. The IEA provides its members with access to industry leaders, and specialists in many fields, who are willing to help. All this is contained in a new leaflet which we have just published. It's available, free of charge, from the IEA regional office in Pinelands. Anyone who'd like a copy - especially if it's to pass on to a colleague who is not yet an IEA member - please contact us and we'll gladly let you have a supply. ------------------------------------------------------ iCourse Graduation "It is my mission to see a golden layer of well trained, well employed and well paid black estate agents, coached and mentored by those who instructed them, so that future legislation and regulations are easily passed on, and your performance remains at a high level." So said IEA Western Cape general manager Vivien Marks at the graduation ceremony for the participants in "iCourse" (see IEA News 49). The function, arranged by IEA director Joy Macnab, was held at an African-themed restaurant in Observatory. "iCourse" is another IEA Western Cape transformation initiative, tailored to fit the specific requirements of estate agents in African residential areas. It was presented by three top IEA training instructors, an attorney, a lecturer from the Graduate School of Business, officials from the SA Revenue Service and the provincial Department of Housing, and representatives from Standard Bank, which sponsored the course. Another "iCourse" will be held shortly. ------------------------------------------------- The Compliance Column (5) Highlighting the many things that estate agencies need to do to keep on the right side of the law. Please note that these are only pointers: for detailed information, you should contact the relevant authorities. Fidelity Fund Certificates • every estate agent must register with the Estate Agency Affairs Board and obtain a fidelity fund certificate (FFC) which is, in effect, a licence to practice • this applies to estate agency firms; directors, CC members, and principals; individual estate agents (including letting agents); showhouse sitters; and commercial and business brokers • an estate agent must show his/her FFC to a member of the public, on request • it is illegal to practise as an estate agent (or agency) without having a current FFC • if an unregistered agent concludes a sale or lease, neither the agent nor his/her firm is entitled to be paid and commission or fees for the transaction • an FFC is valid only for a calendar year, and must be renewed annually ------------------------------------------------------