New on the Market: Developers, investors, commercial

http://21rose.blogspot.com/

Can't find that telephone number?

Try this:

http://cellphoned.blogspot.com/

and let me know how it works for you.

Any similarities with accrediting Estate Agents?

Read from the bottom to the top. Double click on the image to zoom in.

THE SERVICES SETA CONFERENCE - Photos

Go to http://traininggoingson.blogspot.com/

What should the Real Estate industry do to prevent this?

I believe that the professional body - here I mean the Institute for Estate Agents should act as a watchdog and have its own systems and procedures in place to ensure that a person that is a member of the institute meets a given set of quality control requirements. One of theses methods would be that the IEA not recognise the results of training providers that have been implicated in dubious practices.

OOBA - another useful site for the property consumer.

http://www.ooba.co.za/site/index/bond

This is neat!

Virtual Tours - Vizmark Virtual Tours 082 900 4301

http://www.vizmark.co.za/#

Professionalisation of the industry - a view.

A short article on professionalisation of the industry in SA: http://www.realestateinvestor.com/media/blog/4696/

 X

If you wish to submit your organisation's details go here:

The residential property market by FNB

First National Bank provides you with an insight into the residential property market in South Africa via our new quarterly review - the FNB Residential Property Barometer.

The information in this quarterly property report is gathered from local real estate professionals and covers residential property market activity, perceptions and expectations. So, whether you are a buyer, a seller or just curious, you can now get a reliable and accurate source of information on the residential property market.

https://www.fnb.co.za/personal/borrow/homeloans/quarterlyReview.html

A new report on Housing.

http://www.busrep.co.za/index.php?fSectionId=566&fArticleId=4627720

Anthony van der Riet

Strutting his stuff at the first Jhb Metro Branch meeting on 17 September 2008. The topic was the new Qualification for Estate Agents. He, together with Charl Heydenrych explained how the Institute could help them to attain the qualification. Charl stressed the use of accredited providers in the process and that the Institute will act as a source of information to help make things easy for members.

IEASA - National Conference

You should have been there.

Even if it was only to hear Dr. Willie Marais, current Chairman if the Institute, give the 250 odd delegates a run down on the state of the profession.

He gave a broad brush of the activities as it relates to the S.A. Real Estate Proffession's relationships, alliances and bonds - Regionally, Nationally and Internationally.

A prticular highlight was in the area of corporate governance where Kate Colsell's persistence resulted in an updated Board Charter and Regional Operations Manual. This together with a strengthened regional structure should ensure good governance and play the vital role on municipal and local level protecting the rights of agents.

On an International Level Dr Marais praised the work of his predecessor Bill Rawson that laid the groundwerk to an improved relationship and Liason with the NAR.

Nancy Macaluso and Tony Macaluso (together with a video message Norman Flynn of the IRPF) interspersed the talk to outline some of the commercial and educational benefits of an international bond between the organisations.

On a little discordant note Dr Marais alluded to the impact that the OFO (Organising Framework of Occupations) is going to have on the implementation of the newly promulgated regulations - he believes that it was somewhat premature to have done it now when the systems to deal with them have not been put in place in the right sequence and forethought. In the same vein he regretted the less than optimal relationship that exist btween the EAAB and the profession.

Many other points were eloquently touched upon - the relationship with SAPOA, SAFRE and other professional bodies; the positive relationships with financial institutions (ABSA, Bond Choice); the relationship with the Services SETA; the Property Charter Council and so on.

My view is that while Unity is Strength, we still have too few members to really be the force to be reckoned with to keep the burocrats at bay and have a thriving profession (and a resultant vibrant propertry industry).

Let us get together.

Charl Heydenrych
2 September 2008

Trading illegally?

http://www.dispatch.co.za/article.aspx?id=240173

IEASA - JHB Metro

An early morning meeting - Anthony van der Riet and Anne Fry discussing the shape of the moon before the first inaugural board meeting of the newly constituted "JHB Metro" branch of the Institute of Estate Agents of South Africa on Friday 22 August 2008.

A board was constituted at this meeting and some inititial portfolio allocations made. We will keep you posted with breaking news!

(Photo taken by Charl Heydenrych)

EAAB - IMBIZOs

http://www.eaab.org.za/article.php?a_id=56

Equivalency/Exemptions Matrix for Further Education and Training Certificate: Real Estate (NQF Level 4) SAQA QUAL ID 59097

Equivalency/Exemptions Matrix for Further Education and Training Certificate: Real Estate (NQF Level 4) SAQA QUAL ID 59097

If you want it - send me an email - proplib@tiscali.co.za - and I will forward it to you. Just received it from the Property Chamber at the Services SETA.

Simpiwe Piliso - sensationalist about the rental market.

In an article in the Sunay Times (p5, July 27 2008) the reporter used a series of emotive words and phrases to describe the behaviour of property owners in the rental market:

The following words were used: " - but they are sqeezing tenants to cover their bonds", " as landlords demand exorbitant rates" "only nine years ago" - my God, nine years ago one could buy a tin of jam for sixpence...

Simpiwe, also makes the error many times in his article about high "asking" prices(or on offer or on the market). Any first year economics student will tell him and any agent using similar terms, is that it is not the price asked that matters, but the price at which the transaction takes place.

He also makes it sound like a crime if one manages to cover ones bond with the rental as if that is the only cost variable the owner has to contend with.

I would have expected more facts and comparable figures in an article of this nature.

Yes, the rental market seems to be robust - but in a stuation of choice an exorbitant price is the same as affordable if the deal is struck and not a price if no deal is made.

Free the Market

Why would one not be a free market capitalist?

If , in a market economy, the government simply allows and then protects the private ownership of property and the right to the voluntary exchange of labour, goods and services through consenting participants. A society of peace and stability within which people live their lives without fear of confiscation through taxes and expropriation for the common good. Where willing buyers and sellers meet in an unfettered marketplace where the value of goods and services are determined by buyers and sellers that are allowed to trade freely without subsidies and price controls, tariffs and special licences and controls to stem the free flow of ideas and goods and services.

If, in a free market economy people can trade with their property and labour in any way they see fit, as long as they not act in a way that would infringe on others to be have in a similar way and without force or the threat of force or acting in a fraudulent way. Where individuals take responsibility for their actions and cause no damage to others lives and property. Where there is a free movement of goods and services between nations and states.

A free market capitalist society where the role of the state is not to promote the interest of any one group, where it sees its role as the protector of property rights of all and cherishes individual liberty and the rights of groups to promote their groups as long as it does not done in a way that it offends basic human and individual rights.

A free market where economic growth is high because of a low tax regime, where people spend more time and effort on creating wealth than on efforts to protect themselves from the tax authorities. Where the government upholds a policy of protecting the value of the currency and therefore takes no inflationary actions. Where nobody is granted any special privileges on the basis of race or gender and there are no special subsidies, tax consessions, import controls, tariff protections granted to favour some special interest groups. Where political power and influence is curtailed to the essential services of foreign relations, the army, the judiciary and internal safety and security.

A free market where rules are kept simple and understandable, where you would not find unrealistic building, zoning, and other restrictions on trade and costly process involved in setting up of businesses, the subdivision of land and the meeting onerous regulatory requirements when starting enterprises.

A society where the government allows communities and sub-communities a bigger say in those decisions that affect them directly. Why not free market capitalism?

Liaises Faire.

Charl Heydenrych

EAAB presentation.

Do you want the presentation in Power Point that the EAAB give on their road show about the new dispensation?

Email me and I will send you the file on the new FETC: Real Estate.

Suspensive and resolutive conditions

This is an extract from a court case that you can access through the "Palette" - a Free Resource Guide (Part of the Paint by Numbers programme) to help you attain the FETC: Real Estate - a quick and easy way!

5.2 Suspensive and resolutive conditions
A suspensive condition suspends the operation of all or some of the obligations flowing from the contract until the happening of a future, uncertain event. A resolutive condition, on the other hand, terminates all or some of the obligations flowing from the contract upon the happening of a future and uncertain event. (See R H Christie: The Law of Contract, 4th Edition, at page 159; President Land Trust Ltd v Union Government (Minister of Mines) 1911 AD 615 at 627-628.) Whether a conditional clause in a contract is suspensive or resolutive is a matter of construction. It will depend on the intention of the parties as expressed in the language of the contract. (See: Worman v Hughes and Others 1948 (3) SA 495 (A) at 505; Van Pletsen v Henning 1913 AD 82 at 89; Van Jaarsveld v Coetzee 1973 (3) SA 241 at 244E-F.) The words “subject to” in contractual settings are usually used to denote a suspensive condition, but depending on the context, it could also denote a resolutive condition or simply a material term as opposed to a suspensive or resolutive condition. (Panabourne Properties Ltd v Ramsdon 1996 (1) SA 1182 (A) at 1188A.)

THE HIGH COURT OF SOUTH AFRICA (CAPE OF GOOD HOPE PROVINCIAL DIVISION) CASE No: 10352/2005 In the matter between: KARTHIGASEN NARAIN (First Applicant) SABASHNEE NARAIN (Second Applicant) and FINEPROPS 1074 CC (Respondent)

Need an offer to purchase form?

Try this one:

http://www.offertopurchase.co.za/index.php

A little philosophy lesson before learning about FICA and the National Credit Act

Both a knowledge of FICA and the NCA are Unit Standards that need to be mastered when doing yet another government imposed requirement on entrepreneurs - FETC:Real Estate. Read this article to put things in perspective when pondering the low rate og economic growth in South Africa.


“Market Fundamentalists” – who are they?

Churchill said that people occasionally stumble upon truth, but pick themselves up and press on. Josh Billings said the trouble with people isn’t their ignorance, it’s the number of things they know that just ain’t so. Ayn Rand stumbled upon something everyone knows that just ain’t so, but picked herself up and pressed on. The counter-intuitive truth she stumbled upon in her monumental novel, Atlas Shrugged, is that the world’s real “market fundamentalists” are anti-capitalists. They have more faith in capitalism than capitalists.

Rand calls entrepreneurs, “people of the mind”. Through efficient competitive enterprises these “true” capitalists create wealth. Their nemeses are “the looters”, wealth-consuming politicians, bureaucrats and hangers-on, including “crony” capitalists, beneficiaries of government patronage.

Atlas Shrugged is such a significant book that people should not be considered educated if they haven’t read it – over twenty million sold, with several readers per copy; the world’s “best novel” according to a Random House reader survey; after the Bible, the book that most affected readers’ lives according to a Library of Congress survey. Rand and millions of readers, including me forty years ago, pressed on from the truth upon which she’d stumbled.

Truth in fiction
In Atlas Shrugged, as in reality, virtually everything done by the state is characterised by incompetence, and real or suspected corruption. As in South Africa, Atlas Shrugged’s “looters” call on “the people of the mind” to help them fix their mess. They ask Rand’s capitalist heroes to run the economy as successfully as they run their businesses. But Rand’s capitalists are more than entrepreneurs, they are philosophical capitalists, so they decline and point out that the endemic failure of government isn’t the absence of competence or good faith, but the inevitable perverse incentives of interventionism.

Interventionists of all ilks regard capitalism as virtually indestructible. For pro-market liberals it is fragile – interventions and taxes subvert efficiency, bankrupt marginal business, inflict destitution and unemployment on marginal labour, and turn consumers into victims of the road to hell paved with consumer protection intentions.

In Atlas Shrugged and in reality, the anti-capitalistic mentality has an incredibly flattering conception of entrepreneurs. They believe entrepreneurs will, as if by magic, produce an endless flow of technology, products, wealth, taxes and jobs, regardless of what regulators throw at them. Instead of doing anything useful, entrepreneurs “exploit” society by way of ingenious, mysterious and nefarious stratagems. The supposed liberty of consumers and employees in free markets to decline what entrepreneurs offer, is illusory. Anti-capitalist faith in the ingenuity and indestructibility of markets is more appropriately called “market fundamentalism” than the anguished pro-market realism of free marketers. They literally believe in miracles, that capitalists can produce benefits without costs.

Free lunch fantasies
Interventionism is a grand “free lunch” fantasy whereby confiscatory taxes and incredibly costly controls, such as the Financial Advisory and Intermediary Services Act (FAIS), the National Credit Act (NCA) and a deluge of health care interventions, have no adverse impact on the provision of services, credit and health care. When economic liberals protest, interventionists have such confidence in capitalists that they cannot imagine sceptics as anything other than bad faith “fronts for big business”.

This curious confidence in capitalists explains why interventionists press on regardless of “unintended consequences”. When the disappearance of financial services for all except the rich follows FAIS, or no credit for people who need it most follows the NCA, and when none of the predicted benefits materialise, and everyone is reconciled to the characteristic incompetence of government, market liberals lament that “we told you so”, and interventionists blame “market failure”. It never occurs to them that a deluge of regulatory imposts could have negative effects, because they imagine capitalists to be God-like miracle-makers.

“Looters” often pay capitalism the ultimate compliment by imitating it. When they resort to charging for government-supplied water, supplying electricity through a state-owned company, and throw billions of Rands taxed from “people of the mind” at loss-making nationalised airlines, they call it “privatisation”, “commercialisation”, “corporatisation” “deregulation” and “PPPs”. Conversely, no one suggests improving the market by imitating government.

Instead of discontinuing failed policies, “looters” espouse increasingly extreme interventions. Failed “land reform” is what “true” capitalists expect from anti-market land policies. “Looters”, as Rand’s apt name for them predicts, not only ignore the stupendous potential for empowerment of upgrading all black-held land to freehold and redistributing the state’s superfluous land, they attribute their failure to being insufficiently Mugabeesque. Their “solution” is more of what’s failed: willing buyer-unwilling seller looting.

Gang rape
The fundamentalist faith of “looters” in capitalism explains why they are so sanguine about increasingly extreme measures. “Organised business” responds with costly lobbying for amelioration. It achieves awkward compromises in smoke-free rooms. This gives the impression that business “supports” anti-business policies. The process is like a gang intending to gang-rape a woman responding to her pleading by deciding that she will be raped only by the gang leader. The view that business “supports” interventions amounts to saying she “agrees” to sex with her rapist. Usually “crony” capitalists negotiate regulatory threats into sufficient protection against competitors and innovators to off-set new costs and risks.

People are entitled to their own opinions, not their own facts. Whether capitalists are fearsome super-humans to be subjugated by extreme measures, or vulnerable entrepreneurs easily subverted by disincentives, is a matter of opinion. That there are no “free lunches” is a fact, which means that, notwithstanding compromises between “looters” raping markets and their victims, all interventions have costs. Whether benefits exceed costs is also a matter of fact, and the fact is that freer markets out-perform less-free markets by every objectively indexed criterion.

Author: Leon Louw is the Executive Director of the Free Market Foundation. This article may be republished without prior consent but with acknowledgement to the author. The views expressed in the article are the author’s and are not necessarily shared by the members of the Foundation.

From Meumann White - a useful resource for agents wishing to attain the FETC:Real Estate

TABLE OF CONTENTS - http://www.meumannwhite.co.za/property_law_update.pdf
A PROPERTY LAW UPDATE PRESENTED BY BRUCE FORREST OF ATTORNEYS MEUMANN WHITE

BUYING THROUGH TRUSTS, COMPANIES AND CLOSE CORPORATIONS

COOLING-OFF CLAUSE

CAN A PURCHASER WITHDRAW HIS OFFER AT ANY TIME

HOW CRUCIAL IS THE COMMUNICATION OF AN ACCEPTANCE OF AN OFFER TO THE OFFEROR

TRANSFER DUTY

CLAIM FOR COMMISSION

HOUSING CONSUMERS PROTECTION MEASURES ACT 95 OF 1998 (NHBRC)
PROPERTY OWNING COMPANIES OR CLOSE CORPORATIONS WHICH ARE REGISTERED VAT VENDORS

CAPITAL GAINS TAX (CGT)


RENTAL HOUSING ACT

SALE OF REAL RIGHTS BY A DEVELOPER

FICA AND THE ESTATE AGENCY BUSINESS

AMENDMENTS TO THE TRANSFER DUTY ACT IN RESPECT OF NOMINATIONS AND TRIPARTITE AGREEMENTS

SHARE BLOCK CONVERSIONS : TRANSFER DUTY REFUND

LIABILITY FOR LEVIES ON TRANSFER OF A SECTIONAL TITLE UNIT

SERVITUDES OVER IMMOVABLE PROPERTY AND THEIR IMPLICATIONS

AMENDMENT TO SECTION 14 OF THE TRANSFER DUTY ACT NO. 40 OF 1949

EXCLUSIVE USE AREAS

QUESTIONS ON SECTIONAL TITLE

SLOWING DOWN THE TRANSFER PROCESS

VAT AND PROPERTY

AMMENDMENT TO THE TRANSFER DUTY ACT PERTAINING TO DIVORCED AND SURVIVING SPOUCES

Who am I?

Just to answer a query -

I am Charl Heydenrych - and I am the Skills Development Facilitator for:

Chas Everitt
Huizemark
Fine and Country Estates
Adrienne Hersch Properties
Whitfield Property Brokers
Gilbert Estates
(and a few others, some not quite in the fold...)

and yes, we will be assisting ANYBODY to meet the requirements of the new regulations that require all agents to have obtained the FET Certificate: Real Estate in the most effective way, by December 2011!

I think I downloaded a CV in a previous post - just scroll down.

Talk to me if you need help in attaining the FETC: Real Estate (SAQA ID 59097)

proplib@tiscali.co.za

The EAAB Roadshow programme to explain the new qualifications for Real Estate Agents

Click to enlarge.

THE ROADSHOW DATES THAT HAVE PREVIOUSLY BEEN PUBLISHED HERE HAVE NOT BEEN CONFIRMED - I WILL KEEP YOU POSTED!!!

Email Email me here for
more info. and for a free Adobe copy of the new regulations.

Watch this space for EAAB roadshows on the new FETC: Real Estate Qualification

The Estate Agency Affairs Board is embarking on a couintry wide series of roadshows to explain the implications of the newly gazetted regulations. I'll be listing the dates and contact details here soon.

New Qualifications Materials!

The study material for the following core unit standards has now been duly completed by the various authors, namely:



242584 Demonstrate knowledge and understanding of the FAIS Act as it impacts on a specific financial services sub-sector
242593 Explain South African money laundering legislation and the implications for accountable institutions in transacting with clients
246733 Demonstrate knowledge and understanding of the legislation applicable to real estate practice
246736 Market, sell and lease property
246739 Manage self-development in a real estate environment


Such material must, however, be still reviewed before it can be uploaded to the SETQAA for moderation.

3. It is law! You need to have the FETC: Real Estate.

It has been promulgated - all Estate Agents need to meet the requirements set out in the new regulations - the process is starting as from the 15 th July 2008.

Talk to me if you need any help in attaining the Further Education and Training Certificate: Real Estate!

You can relax a little - the deadline for attaining the qualification is December 2011.

Charl Heydenrych

2 BODY CORPORATE/ASSOCIATION - insurance

IS YOUR BODY CORPORATE/ASSOCIATION ADEQUATELY INSURED?

See WHITFIELDS newly posted information regarding this matter on their insurance page.


http://www.whitfields.co.za/insurance/

 X

If you wish to submit your organisation's details go here:

1. Mortgage Fraud: The Hickson Story (US)

"In mortgage-fraud schemes, a property owner obtains a fraudulent appraisal establishing an inflated price for the home, according to the FBI. The owner sells the property to a "straw" buyer, who is a partner in the scam and has taken out a mortgage for the inflated price from a bank unfamiliar with local property values. The seller receives a check from the lender, minus any money owed on the property, which he splits with the buyer. Usually, an appraiser and a mortgage broker also get a cut.

The buyer eventually allows the home to go into foreclosure, leaving the bank with a property worth far less than the mortgage. His or her credit rating will be ruined by the foreclosures, but prosecutions of mortgage fraud have been limited because it's difficult to track, the FBI said."

Read more at: http://blog.mlive.com/kzgazette/2008/06/hixon_story.html

 X

If you wish to submit your organisation's details go here:

Benefits of using an independent Estate Agency

http://www.rockyvalley.co.za/press/view/21

345 visitors since I started counting! (Today - 12 July 2008)

300 visitors since I started counting! (Today - 3 July 2008)
200 visitors since I started counting! (On Wed 25 June 2008)
100 visitors since I started counting! (On Friday 13 June 2008)

I wish I had more comments on my posts however - talk to me if you see this or find something interesting or useful or if you have a question or...

Its just nice to get some feeddback!

Here is another useful site - it seems.

If you have used it - let us know what you think.

http://www.propnetsa.com/propertyinsouthafrica.php

Thanks.

A Genius site - Property Genie

Have you used this site to find what you want?

http://www.propertygenie.co.za/PG/south-africa/residential-property/

It works like a dream! ...and I am not paid to say this - try it! tell me what YOU think.

Create your own real estate!

Rich Sowa built an island out of plastic bottles in net bags. Here's a videohttp://seasteading.org/comment/reply/184

Information at your fingertips: W#links

Information at your fingertips: W#links

Gravity

A property search engine http://www.g.co.za/

They say: "Every night, our web crawlers scan South Africa's leading estate agent sites and index all the properties they find to our database, so that you can perform the widest possible search for real estate from Cape Town to Johannesburg."

Congratulations

Congratulations to Seeff Atlantic Seaboard, City Bowl and CBD - specifically MD Ian Slot (082 452 3944, email ianslot@seeff.com) for selling that luxury apartment at a record price!

Should foreigners own land?

Business Leadership SA submission on Gutto Report on Foreign Land Ownership (for your information)

Last year the Minister of Agriculture and Land Affairs commissioned a panel of experts, headed by Prof. S. Gutto to investigate and report on Land Ownership by Foreigners in South Africa. If the recommendations contained in the report, are acted on, they will have far reaching effects on the economy and investment in South Africa. You can access the submission from Business Leadership SA prepared in response to the "Gutto Report" which is essential reading for all business leaders by clicking on the link below .

The attached covering letter explains the purpose and thrust of the BLSA submission. (The Free Market Foundation's comment on the report is also accessible in pdf format by clicking on the title below.)

Business Leadership SA Submission on Report and Recommendation by the Panel of Experts on the Development of Policy regarding Land Ownership by Foreigners in South Africa

Free Market Foundation Comment on Report and Recommendations by the Panel of Experts on the Development of Policy regarding Land Ownership by Foreigners in South Africa

Brief Comment on the Quantitative Aspects of the Report and Recommendations by the Panel of Experts on the Development of Policy Regarding Land Ownership by Foreigners in South Africa ("Report") Kind regards

Gail Daus-van WykProject Manager

Just received this in my in-box! I'm publishing it here as a service to the industry.

----- Original Message -----
From: Michelle Dickens
Sent: Wednesday, May 28, 2008 8:14 PM
Subject: [TPN] Rental Property Legal Seminar



RENTAL PROPERTY LEGAL SEMINAR 2008





TPN is proud to host our annual Property Legal Seminar

An invitation to all TPN members - Property Managers, Landlords, Agents, and other interested parties.

TPN remains committed to providing our industry with access to professional and relevant industry information.

We have partnered with Fullard Mayer Morrison Inc. for the 2008 Seminar.


Don't miss this opportunity to get a practical compact session

AGENDA INCLUDES:


Charging interest, penalties and default administration charges


Terminating a monthly lease on notice


Cancelling a lease for breach


Practical aspects of the landlord's tacit hypothec


Working with letters of demand


Reporting a defaulting tenant to the credit bureau: the new rules


Section 31 rent interdict summonses


Section 32 rental attachments


Commercial and residential evictions


Extra-judicial evictions considered


Capita selecta of certain practical aspects: liquidation, sale of building etc


Review of recent court cases and legislative developments impacting on leases




Where and When?

Date:
19th June 2008

Time:
08:30 for 09:00 - 16:30

Venue:
The Theatre on the Track

Address:
1 Monza Place, Kyalami Business Park, Midrand

Cost:
R600 (excl VAT) per delegate







EACH DELEGATE WILL RECEIVE A DOCUMENT PACK COVERING THE SUBJECT MATTER DISCUSSED

Space is strictly limited and is on a first come, first served basis.


Should you indicate that you wish to attend, a confirmation of registration document and invoice will be despatched by e-mail.


If you have any queries, don't hesitate to contact Michelle or Delia on 0861 876 000, or email them at info@tpn.co.za.

A horror story reported in the SOWETAN today.

Horror Story

News from the US of A

Home sales unexpectedly rise in April

By MARTIN CRUTSINGER, AP Economics Writer

On Yahoo News

 

 

 

WASHINGTON - Sales of new homes rose in April for the first time in six months although the unexpected increase still left activity near the lowest level in 17 years.

 

The Commerce Department reported Tuesday that sales of new homes rose 3.3 percent in April to a seasonally adjusted annual rate of 526,000 units.

 

But the government revised March activity lower to show an even bigger drop of 11 percent to an annual rate of 509,000, which was the weakest pace for sales since April 1991. Economists believe that new home sales will remain weak for some time as the housing industry struggles with falling prices and rising mortgage foreclosures, which are dumping even more homes on an already glutted market.

 

The Commerce report showed that the median price of a new home sold in April dropped to $246,100 in April, down 4.2 percent from April 2007.

 

A separate report showed home prices falling during the first three months of this year at the sharpest rate in two decades. The Standard & Poor's/Case-Shiller index fell 14.1 percent in the first quarter compared with a year earlier, the biggest year-over-year decline since the index began in 1988.

 

The Commerce report on new home sales showed the April rebound was led by a huge 41.7 percent surge in sales in the Northeast. Sales were up 8.3 percent in the West and 5.8 percent in the Midwest. The only region which saw a decline in sales in April was the South, where sales fell by 2.4 percent.

 

The inventory of unsold new homes edged down slightly to 10.6 months' supply at the April sales pace, compared with 11.1 months in March. However, the April level was still about double the inventory level that was normal during the five-year housing boom.

 

That boom ended in 2005 and since that time the housing industry has been struggling in a tough environment with falling sales and prices and rising mortgage defaults.

 

Economists believe that home prices will remain under pressure until the sizable level of inventories is worked down to more manageable levels. Many analysts don't expect to see a rebound in prices until sometime next year.

 

CHARL HEYDENRYCH
 
Brookfield Investments 158 (Pty) Ltd 
DIRECTOR
 
21 Rose Street, Florida 1710
PO Box 2447, Florida Hills 1716
Tel  011 672 9019 • 082 637 3710
Fax  011 472 0510
Email  proplib@tiscali.co.za
http://realestategoingson.blogspot.com/

 

http://goldmanstokvel.angelfire.com/

Real Estate Agents Galore!

http://www.yellowpages.co.za/search.jsp?query=Estate+Agents&location=johannesburg

Get your money back!

CLAIM back your SKILLS DEVELOPMENT LEVY
BENEFIT from TAX REBATES and CASH GRANTS



Skills Development Levy

As your Skills Development Facilitator I will help you to claim back up to 50% of your Skills Development Levy by:

Ø Developing and submitting a Workplace Skills Plan (WSP) which complies with SETA (Sector Education Training Authority) guidelines:
- Linking skills needs with corporate objectives.
- Analysing your workforce.
- Analysing your training needs.
- Developing a plan to meet your equity objectives.
Ø Advising you on the implementation of your Workplace Skills Plan and establishing systems to track training costs and activities, etc.
Ø Drafting an Annual Training Report (ATR) on the implementation of the Workplace Skills Plan (WSP) according to SETA specifications:
- Within prescribed deadlines.
- Approved by relevant stakeholders.
- Employment Equity compliancy (if appropriate).
Ø Registering you as a provider of training (if appropriate).

Tax Rebates & Cash Grants

As your Learnership Consultant I will help you to benefit from government rebates and grants in respect of training by:

Ø Showing you how apply for learnerships as a Lead Employer and shave thousands off your taxable income per trainee placed on a learnership programme (existing or new staff).
Ø Helping you with your quality assurance and accreditation requirements needed to implement learnerships and claim tax rebates.
Ø Assisting you to obtain training grants for training in key skills.

Contact me and I will send you a copy of the application form.Brookfield Investments 158 (Pty) Ltd DIRECTOR 21 Rose Street, Florida 1710PO Box 2447, Florida Hills 1716Tel 011 672 9019 • 082 637 3710 Fax 011 472 0510Email proplib@tiscali.co.zahttp://realestategoingson.blogspot.com/

New kid on the block

Check this one out : Smartsell - www.smartsell.co.za

OVERFLOW EXAMINATION

 

This serves to advise all stakeholders that the Estate Agency Affairs Board has scheduled an Overflow Examination, to be conducted under the old education curriculum, for all prospective candidates who previously wished to write the examination but who, due to the overwhelming demand, could not be accommodated.

 

 

This examination will take place, country-wide, on 10 July 2008. Successful candidates will be granted full status as estate agents pursuant to the old regulations. Such candidates will, thereafter, be able to proceed, in the normal course of events, to have that prior learning, as well as any other relevant prior learning, recognised and assessed pursuant to the RPL arrangements that are provided for in the new regulations.

 

 

The EAAB believes that this latitude will, undoubtedly, benefit the many persons who are still seeking to gain full status as estate agents under the old regulations and will, also, serve as a useful transitional arrangement for the introduction of the new Outcomes Based dispensation for estate agents.

 

Study material for the Overflow Examination is available at the EAAB.

 

Contact me and I will send you a copy of the application form.

EXAMINATION CENTRES: OVERFLOW EXAMINATION: 10 JULY 2008

 

BENONI

Beula Park Conference Centre

Essex Street

TUNNEY

 

BLOEMFONTEIN

Bobbiespark Sports Club

Hanna Road

Fichardtpark

BLOEMFONTEIN

 

CAPE TOWN (GOODWOOD)

His People Centre

His People Church

Corner Joe Hattingh and Sollie Streets

Goodwood

N1 CITY

 

CAPE TOWN (PAROW)

UNISA

Jean Simonies Street

PAROW

 

DURBAN

Ocean Conference Centre

121 Lower Marine Parade

DURBAN

 

GEORGE

George Municipality

York Street

GEORGE

 

JOHANNESBURG

UNISA Conference Centre

2 Vinton Road

Ormonde Ext 1

JOHANNESBURG

 

NEWCASTLE

Dutch Reformed Church Hall

Corner Wolf, Jakkals and Leeu Streets

Amajuba Park

NEWCASTLE

 

PIETERMARITZBURG

Hall A1

UNISA

1 Long Market Street

PIETERMARITZBURG

 

POLOKWANE

Westernburg Hall

Corner Ben Harris and Buys Streets

Westernburg

POLOKWANE

 

PORT ELIZABETH

Abraham Levy Centre

Barris Walk

Glendenningvale

PORT ELIZABETH

 

POTCHEFSTROOM (TLOKWE)

The Administrative Buro

Reformed Church

Corner Meyer and Mollen Streets

POTCHEFSTROOM

 

PRETORIA (TSHWANE)

George Bou Conference Centre

234 Visagie Street

Corner Andries Street

PRETORIA

 

UPINGTON

Protea Hotel

24 Schroder Street

UPINGTON

 

VANDERBIJLPARK

Vaal University of Technology

Andries Pretorius Boulevard

VANDERBIJLPARK

 

Contact me and I will send you a copy of the application form.

Brookfield Investments 158 (Pty) Ltd 
DIRECTOR
 
21 Rose Street, Florida 1710
PO Box 2447, Florida Hills 1716
Tel  011 672 9019 • 082 637 3710
Fax  011 472 0510
Email  proplib@tiscali.co.za
http://realestategoingson.blogspot.com/

 

http://goldmanstokvel.angelfire.com/

Mass Exodus?

It was reported (on page 9 of Cape Argus on May 10, 2008) that Bill Rawson, chairperson of Rawson Properties, has taken issue with at least four estate agency leaders regarding their public statements on the so-called mass exodus of agents from the industry.

He says almost all the statements he has seen have been irresponsible and have been based on unreliable figures or, in some cases, on pure speculation.

"It may be that the drastic loss of agents from the industry quoted by some reflects the situation in their own companies, but that scenario is not supported by the only reliable source of statistics on this matter, the Estate Agency Affairs Board," he said.

It was reported that Rawson says the EAAB's "commendable and highly factual" advertisement in the Sunday Times that set out the problems the board is encountering and the mistakes agents make in their efforts to register, reveals that 42 868 agents are registered with the EAAB.

To this figure, he says, could be added anything up to 20 000 other agents who in many cases have paid their deposits to the board (R9-million received payments have still to be allocated) but who have not yet received their certificates.

"There are a host of reasons for the delays in registration," says Rawson. "In some instances the postal services have let the board down badly. In others the board itself has accepted that it has fallen behind. Then again it has to be realised that the application or renewal systems are complicated."

Rawson says the EAAB will have to catch up with the latest technologies and introduce web-based initial applications and renewal debit payments, and he has no doubt the vast majority of estate agents will welcome this.

"The temporary difficulties outlined so pertinently by the EAAB should not, however, obscure the fact that the board is working hard to remedy the registration crisis and has employed extra staff for this purpose.

I (the author of this site) believe that these problems will be vastly eclipsed by the new qulification requirements being itroduced. If they (EAAB) do dot improve their systems December 2011 will leave the industry in a shambles

Rawson furthersr said "The difficulties should also not make us forget that the industry has held on to 60 000 agents, most of whom are perfectly capable of riding out the current slowdown and have no intention of leaving. I estimate that right now for every three agents leaving the profession a further two are joining it. The 'exodus' is, in my view, a massive exaggeration. It is not taking place.

"The new franchise model adopted by many big agencies is attracting a more qualified and competent type of applicant to the industry than has ever been seen before. Property marketing is now regarded by many as a challenging, worthwhile career suited to those with an entrepreneurial spirit."

SHARE YOUR VIEWS - Is there an exodus? Have the numbers of practicing agents been reduced by the tightening of the market?

This article was originally published on page 9 of Cape Argus on May 10, 2008

It was reported in the Sunday Times today (11 May 2008)

that house price growth is at an eight-and-a-half year low. This is indicated by the April results of the ABSA House Price Index.

Growth slowed to 6.8% year-on-year (in the middle section of the market)- down from 7.6% in March. It was further reported that this was the fourth consecutive month of single digit growth in nominal house prices since the 11.2% growth recorded for December 2007.

ANC Today -10 May.

Housing and human settlements

(They say)Positive results are emerging in the implementation of the comprehensive programme
dealing with human settlement and social infrastructure. Banks have indicated that
R35 billion has been released for financing housing development and ownership. The
upward movement of interest rates has however eroded the affordability of housing.

An inclusionary housing policy has been finalised and implemented across private and
publicly driven housing development. Multiple housing projects that are designed as
mixed use and mixed income housing developments serve to ensure cross subsidisation
and achieve inclusionary housing objectives.

Over 100,000 units are planned in projects such as Cosmo City, Olievenhoutbosch,
Chief Albert Luthuli and Mogale (Gauteng), Bendor and Lephalale (Limpopo) and
Klarienet (Mpumalanga). At the same time, a voucher system for building materials in
rural areas to support the self-build initiative is being investigated by the
Department of Housing. The Rental Housing Act has been amended to improve the
regulation of tenant-landlord relations.

Looking for property - check these sites out.

www.cyberprop.com
www.sundaytimesproperty.com
www.real-estate-south-africa.com
www.cellproperty.com
www.propertygenie.co.za
www.funnelproperty.co.za
www.propertytrader.co.za
www.property24.co.za
www.mls.co.za

Used any of these? - Please give us feedback, write a comment.

Test

X

CHARL HEYDENRYCH
 
Brookfield Investments 158 (Pty) Ltd 
DIRECTOR
 
21 Rose Street, Florida 1710
PO Box 2447, Florida Hills 1716
Tel  011 672 9019 • 082 637 3710
Fax  011 472 0510
Email  proplib@tiscali.co.za
http://realestategoingson.blogspot.com/

 

http://goldmanstokvel.angelfire.com/

Should we be thankful?

It is reported (Manto Tshabalala-Msimang 05 May 2008 - Briefing document released by Minister of Health May 5 2008 - Social Sector Cluster briefing document:

That positive results are emerging in the implementation of the comprehensive programme dealing with human settlement and social infrastructure. To date, financial institutions (Banks) indicate that R35 billion has been released for financing housing development and/or ownership.

A housing policy has been finalised and implemented across private and publicly driven housing developments. Housing projects that are designed as "mixed use" and "mixed income" housing developments will ensure cross subsidisation and achieve inclusionary housing objectives. Over 100 000 units are planned in projects such as Cosmo City, Olievenhoutbosch, Chief Albert Luthuli and Mogale (Gauteng), Bendor and Lephalale (Limpopo) and Klarienet (Mpumalanga).

At the same time, a voucher system for building materials in rural areas to support the self-build initiative is being investigated by the Department of Housing. (This one I think has promise - CH)


The Rental Housing Act has been amended to improve the regulation of the tenant-landlord relations (ag, more regulation - who needs it - CH).

Anyone use this portal?

This is how they invite you:

"Come Home to PropertyHome . PropertyHome has a wonderful suite of offerings for every active player in the Property Industry. Come in – connect, buy, sell, rent, let, find and click your way through.….” http://www.propertyhome.co.za

What is neat is that they give you a 3-moth free trial period. That should be enough to even sell the property.

Give us some feedback of your experience here. I'm going to market a property here - I'll let you know how it goes...

(I have no relationship or interest in this website - in fact they don't even know about me writing about them - just thought that my readers should know about it!).

BTW - the Florida flat has been sold - an ad on Privateproperty did the trick (I must say it was well priced too!) Hope the buyers manage to get the bond. But Karien at .............. always comes through for me!

Free Assessor Training for Agents

If you are an experienced agent/principal - there is a shortage of qualified assessors in the real estate industry - to alleviate the situation the Services Seta is sponsoring free assesseor training. This is a three day event that equips you to assess the portfolios of other agents. If this is something that you are interested in, talk to me.

Charl Heydenrych
082 637 3710

Earn respect from your clients.

An interesting read:

http://www.realestateweb.co.za/realestateweb/view/realestateweb/en/page228?oid=8030&sn=Detail

Can you afford it?

BUYER TIPS

Applying for a Home Loan

LIST OF INFO NEEDED

Copy of ID (If you are married IN Community of Property you need both spouses ID’s)
Marriage Certificate
Offer to Purchase
Employment Details

Proof of income:
Salaried earner – copy of latest payslip
Salaried earner (basic & Commission) – 6 months payslips -
Commission only – 6 months payslips & 6 months bank statements
Self Employed – 6 months personal bank statements. Letter from the auditor to confirm monthly drawings and audited set of financial statements.
3 months Bank Statements.
A list of ASSETS and LIABILITIES
Monthly Expenses and Income
Not that your relationship with the tax man is any of their business the banks may ask for latest SARS assessment
If property is under sectional title, copy of the financials from the body corporate and name of the managing agent
The National Credit Act which came into effect on 1 June 2007 has forced the financial institutions to be more meticulous when assessing your bond application. They have to make 100% sure that you can afford to pay the bond every month. If it can be proved that the bank has "recklessly" granted you a bond the bank may be liable and could face a fine from the Credit Regulator.

How much do you qualify for?:
The Banks base their bond approvals on your TOTAL disposable income. This means they deduct tax and all monthly expenses (including groceries etc) from your salary and whatever is left is your DISPOSABLE income.

If you have R10000 left after all deductions per month you may qualify for a bond of about R950000. Remember, you can also apply for a bond jointly and thereby qualify for a larger bond amount.

Further Education and Training Certificate (FETC): Real Estate (NQF 4)

The Department of Trade and Industry (DTI) has released (draft) regulations that require all estate agents and principals to have acquired a real estate qualification by December 2011. Agents will be required to earn the Further Education and Training Certificate (FETC): Real Estate (NQF 4) and the principals will be required to earn the NQF 5 Real Estate Certificate in . Agents and principals with relevant working experience may earn their qualification through RPL - contact me for a cost-effective solution. proplib@tiscali.co.za

SAPOA’S 40th Convention

Welcome message from the SAPOA CEO Mr Neil Gopal and the Convention Chairman Mrs Nicole Baumgarten
SAPOA’S 40th Convention will get under way in the Cape Town International Convention Centre from Thursday 29 to 30 May 2008. We anticipate that it will be bigger, better and busier than its predecessors.
South Africa is poised on a new reality, with legislation, leadership and globalisation taking us further into “the new”. We need to gear up, lead and embrace the new environment for growth, and shift our thinking to make it happen.
An exciting line up of local property gurus, as well as a few leading international real estate experts, will discuss and debate matters where powerful leadership is vital if the South African property fraternity is to embrace the challenges that lie ahead. Issues such as the foreign land ownership debate, delivery and capacity at government levels, safer cities and the harnessing of the property sector in the interests of economic development are just some of the subjects that will be explored and debated.
We trust that the 2008 Convention will take into account participants’ wishes, viz a viz the 2007 Convention survey: There will be more local speakers, increased platforms for debate, less powerpoint presentations, and generous time will be built into the programme for networking. Everything possible will be done to ensure that participants will be afforded opportunities to exchange ideas and practical solutions on the sidelines of the speakers’ programme itself.
As in the past, the 2008 Convention will host the SAPOA Awards for Excellence in Property Development and a record number of entries is again expected.
Red line your diary for the 28th - 30th May 2008.

Attention: All Residential Estate Agents

I received this in my in-basket the other day. If you have made money from your dealings with this organisation - write us a comment below!

"Attention All Residential Estate Agents
If you come across a commercial or industrial property for sale, land for development or any seller or buyer for non-residential property, or businesses for sale, then this email is of critical importance to you!
Occasionally in your business dealings, a client will mention that he wants to buy or sell a business, some industrial land etc – a deal which neither you nor anyone in your office is equipped to handle. This is where the Broker Exchange comes into the picture.
By publishing the property through the Broker Exchange you can now receive 40% of the commission for the sale, yet all the detail is handled by those experienced in those processes.
We shall help you with any documentation you require and coach you in its use – all very simple I assure you.
The next step is that you register with us – easy enough as all you need to do is send us an email with your company and personal details. We’ll send you the operating procedures (very simple!) and samples of the most common documents you may require to submit buyers or sellers to the Broker Exchange.
So don’t delay – do it today!
Looking forward to hearing from you.

Kindest regards, Mark RothschildBROKERS EXCHANGEhttp://us.mc552.mail.yahoo.com/mc/compose?to=zaboykie@888dragon.com P.O. Box 3773, Dainfern 2055, South AfricaTel: 082 574 6688Fax: 0866 187 011"

Service with a smile - keep in contact

www.ServiceWithaSmile.co.za

I have not used this service - if you have, write a comment here.

Self regulation?

The business Business Times website carried the article: RE/Max calls for industry overhaul

According to an article by Don Robertson in the SOWETAN on 22 April 2008 RE/Max, has called for the deregulation of the Estate Agency Affairs Board and for the industry to be allowed to regulate itself.

It claims the body is incompetent, fails to return telephone calls, often fails to issue fidelity certificates or does not issue them in time. Estate agents need a fidelity fund certificate to be able to claim commission on the sale of a property. Has this been your experience? Comment below.

About 80000 estate agents were registered with the board last year. It is reported that Jeanne van Jaarsveldt, marketing and financial director of RE/Max, believes that with residential property price growth slowing, the number of agents will drop to about 35000 in time.
What are your views on this?

Van Jaarsveldt also said the consumer and industry interests would be better served if the board was deregulated and the industry could regulate itself.
Have you any views?

Eskel Jawitz, chairman of Jawitz Properties, whose son Herschel was recently appointed vice-chairman of the board, is reported to have said he doubted the board would be deregulated as there is nothing else to replace it. He also admitted, though, that the board was not functioning as it should, but the estate profession should be proactive and try and effect change from within. He also said the call to “unbundle” the board was focussing only on the negatives, but ignoring all the positives that have come about since the board came into operation such as the Code of Conduct and educational standards.

It is also reported that Ken Ralph, vice-president of the Institute of Estate Agents said the matter was “delicate and difficult”.

For Sale: One bedroomed flat in Florida - Lake View

Priced to sell. R 299 000
http://www.privateproperty.co.za/

http://www.privateproperty.co.za/search/details_new.asp?refpro=F0252_2_511_15_1_FLORIDA%201%20bedrooms,%201%20bathrooms%20apartment%20%20for%20sale

The Property Charter

Property Charter


If you need any information on the property charter you may find the following site useful: www.propertycharter.co.za

This website gives detailed information about transformation within the property sector and, in particular, to the implementation of the property sector charter. It contains explanations of how the Charter works on a practical level.

There is in existence a Property Sector Charter Council, the composition of which is listed on the above website. There is also a copy of the Constitution of the Council on the website.

It must be kept in mind that the property sector charter has been gazetted in terms of section 12 of the BEE Act, and is thus an expression of commitment to transformation by the property sector. The property sector charter is not, however, a binding document.

Companies who are committed to complying with the goals set in the charter often call in an independent ratings agency to determine their extent of compliance. Once a ratings agency has rated the transformation in a company it will issue a certificate reflecting the extent of compliance. There is no formal reporting requirement for companies in the property sector at the moment. Listed companies may, however, publish information as to the extent of compliance on their websites and in their annual reports.

As stated above, because the property sector charter has been published in terms of section 12 it is not a set of binding requirements. However, whether the goals set out in the charter have been attained may be relevant, for example, where a tender is made for work from the state. The panel evaluating the tender will ask questions regarding transformation and the answers to these questions are relevant in determining who the tender will be awarded to.

(This text is adapted from an email received by Charl Heydenrych from Nikki Stein, a candidate attorney at Bowman Gilfillan, in Johannesburg - 17 April 2008)

Obtain your FETC:Real Estate!

Contact:
Charl Heydenrych
082 637 3710
011 672 9019
proplib@tiscali.co.za

Property, whose property? It has been expropriated!

Free Market Foundation director, Temba Nolutshungu, recently commented to Realestateweb on the Expropriation Bill that has now been introduced into Parliament. A report on his comments is reproduced below as well as links to view the full article and to download the Bill.

The Bill is available at http://www.info.gov.za/gazette/bills/2008/b3-08.pdf

It is no longer a draft Bill but a full-blown Bill that has been introduced into Parliament, that is why the info has to change.

Eustace Davie
Director
Free Market Foundation
Tel: 011 884 0270
Fax: 011 884 5672
Email: fmf@mweb.co.za
Website: www.freemarketfoundation.com




Property: ANC's land expropriation policy slammed

A leading former black consciousness activist has called the race-based policy and ANC resolutions on land policy 'utterly despicable' and 'repugnant' and says the country should focus attention on policies that will help fuel much-needed economic growth instead. As reported in Legalbrief Today last week, the SA Property Owners Association, Sapoa, issued a cautiously-worded statement in a tone of resignation around land expropriation. It said it was of the view that the adoption of the Bill would provide adequate protection for land and property owners in the event of expropriation'. The ruling party wants to see at least one in three farms 'redistributed' over the next five years, among its property-related plans. But according to a Realestateweb report, Temba Nolutshungu, respected Free Market Foundation director and a former black consciousness movement activist of the late 1960s and 1970s, said SA should forget about land expropriation. Land grabs should be 'scrapped alto
gether' and the political leaders
should instead apply their minds to developing policies to help get the economy growing at 8%. Farms that have been handed over on a restitution basis so far are lying fallow in many cases, he noted, which is 'evidence' you can't just hand over commercially productive agricultural land to the inexperienced and expect a positive result. Instead of expropriating land currently in the hands of white farmers, the government should hand over state land to emerging farmers, he suggested. Nolutshungu added that the fact that expropriation is to be conducted on a 'racial basis' was 'a very bad idea'. 'I find it so utterly despicable and repugnant that we can still issue racially discriminatory policies. It is something I feel strongly about. It is not right at all. I can't come to terms with the fact that our statutes reflect racially-oriented policies,' he said.

Full Realestateweb report


Draft expropriation policy paper (PDF file)

http://www.legalbrief.co.za/publication/archives.php?mode=archive&p_id=Legalbrief_Today&issueno=2000&format=html

Tough times ahead

Up to 15 000 estate agents could be out of business by the end of the year, the Business Day reported on Monday. 14/04/08
Herschel Jawitz, CEO of Jawitz Properties, said the market would find a "fairly significant fall off" in the number of registered estate agents this year.
"It could be as much as a 15% to 20% fall off, which translates into around 10 000-15 000 fewer estate agents," said Jawitz.
He said there were about 80 000 estate agents registered with the Estate Agency Affairs Board.
He said the challenge for estate agents at the moment was less a matter of property prices and much more the volume of home sales, which had also declined by as much as 20% year-on-year

The sign of the devil - Agent off the hook

Taljaard v Botha Properties (666/06) [2008] ZASCA 38 (28 March 2008)

CASE NO: 666/06

Some people may say this is the Sign of the Devil – if you look at the case number.

But, not to pay the agreed commission to an agent that does not have a fidelity fund certificate is not on – they had a deal the judge said.

The estate agency (Botha Properties) has won a court victory that will support estate agents who sell property without having a valid fidelity fund certificates.

The Supreme Court of Appeal of SA ruled that a seller does not have the right to have commission returned if it emerges that the estate agent was operating without a fidelity fund certificate.

The delay in issuing of Fidelity fund certificates by the EAAB are a sore point in real estate sales' circles right now - A war of words is taking place in the media between agents and Ms Mapetla of the Estate Agency Affairs Board (EAAB), after it emerged that many estate agents are not in possession of valid fidelity fund certificates.

According to the previous interpretation of the law, estate agents who do not have a valid certificate when they act as agents are not entitled to commissions earned. This seems to have been overturned by this case. As judge Nugent said:

“It seems to me that that misconstrues the purpose of the section. It was not enacted for the benefit of clients who have incurred a contractual obligation to pay remuneration to an estate agent who has performed his or her mandate – I have already held that the contract giving rise to the obligation remains valid notwithstanding the breach of s 26 – but rather to penalize estate agents who have breached the section. An estate agent who claims remuneration in conflict with s 34A might expose himself or herself to criminal sanction, and will be prevented from enforcing his or her claim, but I do not think it follows by necessary implication that a client who has settled his or her contractual obligation is accorded a right of action for its return.”

Nugent dismissed the client's appeal with costs.

Who's to blame?

The Estate Agency Affairs Board (EAAB) has denied accusations from the Institute of Estate Agents of South Africa that the board is incompetent. The issue is that estate agents are operating without certificates and they reckon that the board has failed to issue them.

It is law that agents must have a fidelity fund certificate to be able to practice legally. CEO of the EAAB, Nomonde Mapetla, said (according to an article on the SABC website) that the fault lies squarely at the door of the estate agents. “It is their duty in terms of the law to ensure that they get these certificates...that they make the necessary submissions even at the end of their financial year to ensure that they don't get blocked...those that are blocked have not submitted their audited trust accounts. Last year we did inspections for the first time in 30 years and were able to discover this and therefore started blocking people...”

The SABC site also mentions that the President of the Institute of Estate Agents of South Africa, Willie Marais, said the board was inefficient.

My focus is on the new Qualification requirements - Let us all work in a way that will ensure that we do not have a similar crisis when the deadline arrives!

Take action now and avoid the inevitable crunch that I predict will happen - thousands of agents not having the fidelity certificates because of ... Who will be to blame?!

To the point - what a fantastic response!

I received the following letter from an agency after receiving the "to the point" checklist.

"Thanks Charl - quite an interesting checklist - my agents have a weekly
training session.. on top of that they do a one month intensive course that
I have designed when they join my company (even if they are experienced).

We are currently very small, however my goal is to produce high income
earning agents - not one great performer and nine below average sales
people. They receive weekly goals and a daily allocation sheet of tasks
that need to be done. Already from this framework I have spotted a few
points that I have failed to address in my current program and training eg.
Money laundering - not much focus on this.

I will print it off and run through the checklist with each individual agent
and provide more feedback then.

Thanks again"
(reprinted with permission)

...and this is the whole purpose - to develop a living and practical tool, that will lead to agents easily being able to collect the evidence necessary to meet the requirements of the Further Education and Training Certificate: Real Estate. This together with the "paint by numbers" toolkit will save you time, money and agony. Talk to me - order your free "to the point" instrument and invest in the "paint by numbers" file; also ask about the free "palette" resource guide and "the outside of the box" all tools to make it easy to attain Recognition of Prior Learning and get your FETC: Real Estate (SAQA ID 59097) to be able to keep on selling property after December 2011!

Here is the "Outside of the Box"

This weekend (15-16 March 2008) I photographed the entire Portfolio of Evidence that one of my learners handed in to be RPLed on the Further Education and Training Certificate: Real Estate (SAQA ID 59097). I have not yet assessed it and the process has not been moderated but I thought it would be useful as is to my other learners that wish to see an example of a possible end product(and to you!).

I have blackened out some portions - a) to protect identities b) to protect some copyright material and c) to limit plagiarism (the copying of answers without wrapping your own mind round the subject matter). Still I think it will be a useful model to anybody wishing to compile his her own portfolio of evidence (POE) for RPL purposes of the FETC: Real Estate and to a person learning the job of an estate agent as a candidate.

If you wish to have a copy of this 180 image file - I will be selling it as soon as I have sorted out some issues (most probably around R 300 plus VAT).

8. Managing Agents are not excluded.

In terms of the act a person who collects rent or receives levies must also register as an Estate Agent with the EAAB (Estate Agency Affairs Board) and have a valid Fidelity Fund Certificate. This means, according to my interpretation, that they too have to meet the requirement of having completed the Further Education and Training Certificate: Real Estate by December 2011. Though the qualification is largely aimed at residential Real Estate practitioners, the evidence that manging agents need to produce to demonstrate their competency can be slanted towards the work that they perform.

Another interesting point must be noted when a member of the public wants to claim from the fideliy fund:
A. [i] A person must suffer pecuniary loss (loss of money)
[ii] The loss must be as a result of theft.
[iii] The monies stolen must be trust monies.
[iv] The theft must be committed by an estate agent.

Now here is the interesting point - the EAAB website says: "It does not matter whether or not the agent was registered with the Board or had been issued with a fidelity fund certificate. All that is required is that the claimant prove that the person he dealt with acted as an estate agent. [The definition of an estate agent is contained in the Act]."

Talk to me if you wish to obtain the qualification - there are many routes to get there. Add a cellphone number to the cellphone directory here.
Click here if you wish to be listed in our directories.

7. Not hot off the press, but news nonetheless!

This is copied from an email received from IEASA (Central) - end Feb 08.

"In a move calculated to help unify the estate agency industry, the National Association of Real Estate Agencies (NAREA) and the Institute of Estate Agents of South Africa (IEASA) have announced that they have joined forces.
To this end, NAREA will cease to operate and five members of the current NAREA board will be absorbed on to IEASAs board of directors.

NAREA chairman Eskel Jawitz said this week his organisation wanted to create unity in the real estate industry, which was facing significant challenges and needed to present a united front in order to be able to influence its own destiny. The NAREA board had consequently resolved to join forces with the 70-year-old IEASA. This move would also further the BEE interests of the industry.

Dr Willie Marais, national president of IEASA, said the IEASA board was pleased at the efforts made by the industry leaders represented in NAREA to enable and promote unity and make it easier for industry players to operate.

The IEASA board had previously said it was willing to accommodate all leading industry players, so it could operate from a position of strength in both national and international arenas.

Now NAREAs decision to join forces with IEASA will create a stronger lobby to deal with government on issues important to estate agents, and an organization more representative of the whole SA industry in international forums.

NAREA representatives will get rights to sit on the IEASA Past Presidents Advisory Council, as well as on the IEASA Corporate Groups Advisory Council, from where they may be appointed to the IEASA national board of directors.

Meanwhile, the IEASA board has resolved that two more vice-president positions will be created, bringing the total to three vice-presidents to assist with the workload of IEASA management on national and international level. One will take responsibility for regional matters, another for international matters, and the third for statutory matters." Add a cellphone number to the cellphone directory here.
Click here if you wish to be listed in our directories.