What is the function of the Estate Agency Affairs Board?
The core function of the EAAB is to enforce industry compliance through effective regulation. The EAAB is therefore responsible for ensuring that all qualifying estate agents are issued with a valid Fidelity Fund Certificate (FFC) on time in order for them to trade legally.
Where do I report estate agents in South Africa?
LODGING A CLAIM AGAINST AN ESTATE AGENT. AND THE DISCIPLINARY PROCESS.
How do I find out if an estate agent is registered in South Africa?
To verify estate agents’ legality, buyers can request a copy of the fidelity fund certificate from the agent. Alternatively, they can contact the EAAB call centre on 087-285-3222.
How do you check if an agent is registered?
You can also verify an agent on the Estate Agency Affairs Board website where all agents who are marketing properties must be registered.
Do estate agents have a Code of Conduct?
Such staff must observe this Code and their legal responsibilities in all their dealings with consumers. Staff must have a good working knowledge of the law of agency, the law of contract, and all relevant estate agency legislation; and familiarity with the basic conveyancing and mortgage application processes.
Who needs an FFC?
In terms of the Estate Agency Affairs Act (112 of 1976), every estate agent and estate agency firm must obtain a Fidelity Fund Certificate (FFC) from the Property Practitioners Regulatory Authority (PPRA).
How do you complain about an estate agent?
You can report a letting agent to trading standards if the agent hasn’t registered with a letting agent redress scheme or their practices appear unfair. Trading standards may be able to investigate unfair or unlawful charges. To complain to trading standards, contact the Citizens Advice consumer helpline.
How do I complain about a managing agent?
Reporting your agent if they’re not registered If your letting agent isn’t registered with a redress scheme you can report them to the Trading Standards team: Phone: 020 7926 5000. Email: [email protected].
Who is the governing body for estate agents?
The National Association of Estate Agents (NAEA) is the UK’s leading professional body for estate agency. Our members practise across all aspects of property both in the UK and overseas, including residential and commercial sales and letting, property management, business transfer, auctioneering and land.
Who regulates managing agents in South Africa?
If they operate a trust account they must contribute to the EAAB’s fidelity fund. This fund is there to protect the Body Corporate against theft and fraud. Once the Ombuds Act is implemented it is expected that Managing Agents will be regulated by the Ombud.
How do I know if a property agency is legit?
Fact: CEA’s Public Register has all the professional information about a property agent for easy fact-checking
- Agent’s name.
- Agent’s photograph.
- CEA registration number.
- Registration period.
- Past disciplinary actions.
- Awards received.
- Estate agent that he/she belongs to.
- License number of the estate agent.
What is the role of the estate agency Affairs Board?
As a supervisory body in terms of FICA, the Estate Agency Affairs Board (EAAB) is empowered to act in the enforcement of the provisions of the act. Accountable institutions which fall under the Estate Agency Board include estate agents as defined in the Estate Agents Act, 1976 (Act 112 of 1976).
Which institutions fall under the estate agency board?
Accountable institutions which fall under the Estate Agency Board include estate agents as defined in the Estate Agents Act, 1976 (Act 112 of 1976). Please follow This link to report.
What is the estate agency Affairs Act 112 of 1976?
It was established in 1976 in terms of the Estate Agency Affairs Act 112 of 1976 (EAAA). This Act protects the interests of the public and ensures that estate agents are compliant. Are you spending an enormous amount of time and effort trying to finalise documentation and queries with the EAAB?
What does the estate agents act mean for You?
This Act protects the interests of the public and ensures that estate agents are compliant. Are you spending an enormous amount of time and effort trying to finalise documentation and queries with the EAAB?