EAAB to outlaw non-compliant estate agents

The news that the Estate Agency Affairs Board is now clamping down on and expelling estate agents who are continuing to operate in the property market despite not complying with the board’s instructions regarding continuing professional development courses is exactly what the industry needs, says Rowan Alexander, director of Alexander Swart Property.

“Several thousand estate agents will now either be out of a job or will be operating illegally,” says Alexander.  “What is more, the most common offenders will usually be those who have been in the industry a long time but had come to believe that the board would not make good its promise to crack down on those who shirked their obligation to continue with their professional training.”

He says anyone dealing with an estate agent should now take one or more of the following steps to protect themselves from dealing with an agent operating illegally:

Check the agent’s standing with the Estate Agency Affairs Board by means of the search function on the board’s website.

Insist on seeing the agent’s fidelity fund certificate – and check that this is up-to-date. Any agent operating without a FFC is working illegally.

Check on the agent’s email correspondence to ensure they have a privy seal signature. This should be on all agents’ correspondence and indicates they are in good standing with the board.

Alexander warns that anyone dealing with a property agent who is no longer licensed will have no comeback from the EAAB should that agent defraud them in any way.