IEASA – THE WAY FORWARD
The IEASA for the present takes responsibility for all its members, both principals and agents. Sustainable business models are currently being developed to comply with government’s requirements to have separated bodies in terms of organised labour and organised business, whilst acknowledging that an agent’s main business is selling property. It is imperative that agents and estate agency principals are properly organised to have a voice in industry.
The IEASA is fully aware of the need for transformation in the industry on different fronts. The primary goal is to build on over 75 years of service to the industry and to emerge with two financially viable bodies fully representing the new South Africa.
Therefore expanded, vibrant and dynamic organisations will emerge to serve the industry for many years to come!
Recent legislation has dictated that the real estate industry can no longer be represented entirely in one professional body, as the government feels that a body whose directors are made up predominantly of real estate principals may not act in the best interests of the estate agent. Whilst most of the current IEASA directors (who are not remunerated) feel that they act in the interests of the industry as a whole, this decision has been made by government.
Against this backdrop, the industry has no choice, but to create at least one new body so that the current Institute of Estate Agents would represent estate agents, i.e. labour, and a new body would represent real estate business owners – predominantly principals.
The Institute would however, like to make its members aware that whilst it has no objection to the newly formed body representing certain principals, (REBOSA – Real Estate Business Owners of South Africa) – this is not the body that is officially endorsed by the Institute. An announcement is pending with regards to the separate associations recommended by the Institute to represent agents/employees and principals/business owners in future that encompasses the interests of our industry.
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