Reader queries on agent qualifications

21 Feb 2012

Following an article on how one becomes a estate agent in South Africa, readers asked specific questions on estate agent qualifications compliance.

I hold a BSc Building Science degree from Wits, Plus a MSc/MBA from Luton in the UK and passed the Estate Agency Affairs Board (EAAB) examination in 2006. I have been trading as a letting and rental managing agent for the past six years with no property sales experience. Do I need to go through the process you have just explained to be compliant?

A Property24 reader asks:

I hold a BSc Building Science degree from Wits, Plus a MSc/MBA from Luton in the UK and passed the Estate Agency Affairs Board (EAAB) examination in 2006.

I have been trading as a letting and rental managing agent for the past six years with no property sales experience.

Do I need to go through the process you have just explained to be compliant?

Kevin Mullins, chief executive officer of the South African Real Estate Academy responds:

The BSc Building Science degree offers a full exemption from the training requirements at NQF level 4 (non-principal agent).

An MBA from a South African university offers a similar exemption at NQF level 5 (principal agent). If you wish to submit the MBA from Luton for consideration, you will have to have the degree evaluated by SAQA (details on their website at www.saqa.org.za) and submit the evaluation certificate along with the proof of qualification.

You will also have to write the Professional Designate Exam (PDE) to attain full status as an estate agent as it appears that you missed the exemption window (agents who were registered by the EAAB between July 2003 and July 2008.

A Property24 reader asks:

Do companies that collect property rentals have a regulatory board and where can one find them in South Africa?

Mullins responds:

They do not have a regulatory board in the sense of a legislative body like the EAAB.

Managing agents that collect rentals should (but are not obliged to) belong to the National Association of Managing Agents (NAMA). They can be contacted on www.namasa.co.za.

A Property24 reader asks:

I passed the EAAB examination (Certificate in Estate Agency) in 1990 and currently have my own auctioneering business.

Can I register as an estate agent and my business as an agency with this qualification?

Mullins says:

Unfortunately not, new entrants to estate agency must follow the training regulations set out in Government Notice R633 published on 4 June 2008.

In a nutshell, non-principal agents must achieve the FETC: Real Estate (NQF level 4) and principal agents must achieve the NC: Real Estate (NQF level 5).

New entrants are also obliged to serve an internship of 12 months and pass the PDE exam before being registered as full status agents.

In addition, new entrants with a tertiary qualification in specific fields may apply for exemption from the qualification criteria (see answer to first reader).

Visit www.sarea.co.za or email Nicole@sarea.co.za

Readers may submit questions to Property24’s Guest Expert panel and/or comment below. We may not be able to answer all questions received, but all will be considered.

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