We’re living in exciting times!

Here are some of the issues we need to take cognisance of:

1. THE EAAB

By now all of us are aware of the court case and its outcomes regarding the FFC debacle.

Our regulating authority will now be subjected to a forensic audit as well, ordered by the Minister of Human Settlements.

We trust that the unjustifiable situation of lack of service delivery will soon be over.

2. THE PROPERTY PRACTITIONERS ACT

You need to get your status and details updated with the EAAB.

3. CPD

Please refer to the links on the EAAB website:

https://www.eaab.org.za/article/continuing_professional_development_cpd_system_glitch_ https://www.eaab.org.za/article/extension_of_cpd_points_acquisition

4. AUDITREPORTS

Queries can be addressed to : audit@eaab.org.za

While the Property Practitioner Act is in fact law, it is not yet operational. On 3 October 2019, President Ramaphosa promulgated the new Property Practitioners Act 22 of 2019. The Act only

comes into operation on a date fixed by the President by proclamation in the Gazette.

This Act is going to have serious repercussions and we suggest that everyone; principals, full status and intern agents, ensure that they meet all requirements as laid down by the new Act.

It’s that time of the year again. Companies whose financial year ended on 28 February 2021 need to have their audit reports submitted to the EAAB not later than 30 June 2021 to avoid

penalties.

If you have changed your audit company in the last financial year- please ensure to submit a

letter to that effect to avoid your report from being rejected.

iSiKolo School of Learning 021 9768848/0825331707 info@isikolo.net www.isikolo.net ©

5. FFC

If you plan to leave the industry- you must inform the EAAB that you wish to de-register.

If you fail to de-register and you then wish to re-enter the industry you will be subjected to hefty penalties.

CHANGE OF EMPLOYMENT:

https://www.eaab.org.za/registrations/change_of_details_of_estate_agency_name_or_agency_type

FIDELITY FUND CERTIFICATE AMENDMENTS (ADDITIONAL FIRMS AND NAME CHANGE) R374,00

6. INTERNLOGBOOKS

This situation remains the same.

• The proposed online logbook via the MyEAAB profile is not fully active as yet. Hence everyone must still work with the hard copy version.
• We have been advised that interns should rather send their completed logbooks to the Johannesburg office of the EAAB
• The Cape Town office is not currently open
• Completed logbooks can only be submitted 12 months after date of the first FFC being issued.
• They must be submitted from month 13, but not later than month 24.
• The logbook is hard evidence of the practical interaction with the theory and practice of real estate. It must be current [hence not older than 24 months].Note: it’s no use rushing off this logbook in the 1st few months of being an intern- there is a reason why the internship period is at least 12 months- interns have to gain experience in their 1st year.

  At iSiKolo we offer a one-day logbook compilation workshop- please contact sales@isikolo.net for more details or phone our office and speak to Salma or Nantes.

  7. QUALIFICATIONS

  NQF4: interns are to complete their NQF4 qualification in their first 12 months of registration. This can be done simultaneously with their logbook. In fact, it is advisable to start with the NQF4 qualification first and then compile the logbook as you go. This will avoid duplication of many tasks.

  Contact Nantes on 082 533 1707 or email info@isikolo.net for more information on our Full Intern Training Programme.

  ***Full status agents can fast track their qualification via the RPL method.

  NQF5: all current principals must obtain this soonest [if they haven’t done so already). New principals have to achieve both their level 4 and 5 qualifications.

• The entry level for the full training of NQF5 only requires a completed NQF4; real estate qualification.

iSiKolo School of Learning 021 9768848/0825331707 info@isikolo.net www.isikolo.net ©

• You don’t need to be a principal to obtain this qualification if you attend facilitated sessions. Start working on your future.

Exemptions from qualifications:

o The EAAB has adjusted the exemption matrix: https://www.eaab.org.za/article/1599742155

The gist is:

NQF4 exemptions:

Applicants holding any 3-year qualification equivalent to NQF 6 obtained from an accredited Tertiary academic institution are exempted from the Further Education and Training Certificate: Real Estate (NQF Level 4), subject to the discretion of the EAAB.

This is in a way stricter than the previous matrix, which allowed for certain diplomas, short courses, subject matter expertise in relevant fields.

Note; only the EAAB can grant an exemption – no training provider has the authority to do so anymore.

NQF5 exemptions:

Applicants holding, at least, an undergraduate or postgraduate qualification with the status of NQF 7 Level or higher obtained from an accredited Tertiary academic institution are exempted from the National Certificate: Real Estate (NQF Level 5), subject to the discretion of the EAAB.

This is in a way stricter than the previous matrix.

If uncertain, please send me an email and I will peruse your qualifications [free of charge with no obligation for you to enrol with us] – salma@isikolo.net or for more information contact Nantes on 082 533 1707 or info@isikolo.net

RPL:

• Some estate agents qualify to complete their qualifications via the RPL method. If you wish to acquire the qualification via the RPL route, you need substantial evidence of experience in a real estate context. Contact Nantes on 082 533 1707 for screening and information or email info@isikolo.net

Note: interns still need to do the one-year internship, logbook and PDE4 if exempt from NQF4 qualification.

8. PDE

The introduction of online PDE’s arrived.

The bookings for the May exam are not yet open.

We still offer our preparatory workshop for the PDE4. You can contact sales@isikolo.net for more information.

iSiKolo School of Learning 021 9768848/0825331707 info@isikolo.net www.isikolo.net ©

PDE4:

• ✓  interns should take the exam in the 2nd year after date of 1st registration, i.e. months 13- 24, but only after their logbook has been submitted and accepted by the EAAB- they receive a formal letter from the EAAB to confirm compliance. They also need their NQF4 SSETA certificate of compliance.o Hence interns should not wait to embark on their qualifications after the logbook has been done as this prolongs the internship period. The 2 must be done simultaneously.
• ✓  Full status agents: they need to complete the exam as soon as they have received their qualification [unless they were exempt i.t.o. the 2003-2008 ruling]
• ✓  Prospective principals; must have completed the PDE4 exam before they can become principals.PDE5:
• ✓  only current principals need to do this exam [unless they were exempt i.t.o. the 2003- 2008 ruling]
• ✓  new principals must take the exam within the 1st 24 months after receiving a principal FFC
• ✓  No one else but principals, can write the PDE5.

9. ISIKOLO FACILITATED SESSIONS and ONLINE NQF4 OPTION

We are trading as normal. We have resumed our contact session in Durbanville, George and Port Elizabeth.

We now offer an exceptional interactive NQF4 online option for the Full training NQF4. See our website for more details. www.isikolo.net

10. SSETA CERTIFICATES

There are many unclaimed NQF4/5 certificates at our offices. Please contact our SSETA liaison officer on admin@isikolo.net . Many people change their email addresses and don’t advise us accordingly, hence they don’t receive their notifications.

You need to send these certificates to upgrades@eaab.org.za with a request for a status update.

11. EAAB OFFERS REPRIEVE FOR ESTATE AGENTS WITH HISTORICAL DEBT

The EAAB press release on 14 February 2020 still applies.

https://www.eaab.org.za/article/press_release_eaab_offers_reprieve_for_estate_agents_with_hist orical_debt1

In summary:
If you failed to advise the EAAB that you left the industry and wish to re-enter you will incur fines.
This notification specifically refers to people with a 3-year break.

iSiKolo School of Learning 021 9768848/0825331707 info@isikolo.net www.isikolo.net ©

Principals; please ensure you deregister your agent when they leave your employ. Agents; leaving the industry must deregister with EAAB
The reprieve:

• ❖  There will be an initial R1000 penalty payable as an acknowledgment of debt before they will even reconsider your new FFC application
• ❖  The final amount due will be calculated by the EAAB
• ❖  The agent/principal will then have to sign an undertaking for the penalty to be paidback over a 6/12/16 month period
• ❖  Your new FFC will be issued on payment
  

  12. Historic agents re-joining the industry after a hiatus

  A practice notice ETD02/2019 of 26 June 2019 was published by the EAAB. This still remains in force.

  https://www.eaab.org.za/article/practice_note_etd02/2019_of_26_june_2019_regulating_t he_position_of_previously_registered_estate_agents_who_wish_to_return_to_the_sector

  The summary is as follows:

  Left during or before 2008 calendar year

  • Will be issued with intern FFC
  • 12-month internship will apply✓ Logbook after 13th month
    ✓ NQF4 within 12 months after re-registration ✓ PDE4 within 18 months after re-registration ✓ Failure to adhere: no FFC in following yearLeft during or after 2009 calendar year
  • Will be issued with FFC similar to status of last FFC held with EAAB
  • Must obtain relevant qualification pertaining to their FFC status
  • Must obtain PDE within 18 months after readmission
  • Failing to adhere: no FFC in following year
    

    13. iSiKolo ROADSHOWS

    We shall resume our popular roadshows soon.

    At iSiKolo real estate training is our passion. Don’t hesitate to contact us if you have queries in this regard.

    Follow our blogs on our website and Facebook/Instagram page [if you like the page- you receive all the notifications that we post]

    Thank you for your continued support. Stay healthy and safe!