Rapid change envisaged for South Africa’s estate agencies

The South African estate agency landscape is set to change  rapidly in the next three years by the introduction of 10 000 previously disadvantaged people to the sector from this month until March 2017.

This means more than 3 300 new entrants will be recruited to the sector every year.

Human Settlements Minister Connie September has launched an initiative to speed up transformation in the estate agency sector. This is because  only 10% of the 40 000 estate agents currently registered are black.

“It is an unfortunate reality that the sector presently remains characterised by an acute under-representation of formerly disadvantaged persons,” Spetember said today, 24 April, 2014. “This patent lack of meaningful transformation, notwithstanding the consistent endeavours of the EAAB to inculcate awareness among sector role players of the transformation imperative, can no longer be tolerated.”.

 The ‘One Learner – One Estate Agency’ programme, which will be administered by the Estate Agency Affairs Board (EAAB), aims to change the industry. Through the programme, To date, the EAAB has received support for the programme through written pledges from 20 estate agency firms to collectively take on 750 learners into the programme.

This will increase the number of estate agents by 20% and increase the level of understanding of property as an asset for economic wellbeing and trading. The EAAB said this will also promote the real estate market as a career of choice and development.

During the Real Estate Summit, which was held from 4-5 October 2012, industry stakeholders committed to the adoption of the One Learner – One Estate Agency’. Minister September hailed the programme saying it was paramount to the growth of the industry.

She said more women, the youth and physically disabled persons should be given an opportunity to participate in the sector. The EAAB regulates the estate agency profession through ensuring that all persons carrying out the activities of an estate agent as a service to the public are registered with the EAAB. Currently, there are about 10 000 estate agency enterprises that are controlled by EAAB.

Sources: SAnews.gov.za

(edited)

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