Property sector has entered a new era
South Africa’s real estate industry has entered a new era with the signing of a memorandum of understanding (MoU) by its two biggest self-governing bodies.
This is according to Jeanne Van Jaarsveld, GM of Harcourts SA, and vice-president of the Institute of Estate Agents of South Africa (IEASA), who regards the partnership between the institute and newly-formed Real Estate Business Owners of South Africa (REBOSA) as a major step towards professionalising the sector.
“The IEASA and REBOSA represent an overwhelming portion of the real estate industry.
“Together, they intend to carve a new road into the country’s property landscape in the interests of the public, as well as businessowners and estate agents.”
Van Jaarsveld believes that the partnership is another welcome and positive step towards professionalising the sector, following the transfer of the Estate Agency Affairs Board (EAAB) from the Department of Trade and Industry to the Department of Human Settlements under the watchful eye of minister Connie September.
“The EAAB is the government-appointed industry regulator, so it’s critical that its governance is sound. The transfer of the EAAB and the real estate industry to minister September’s department was a strategic move by government, and one that has proved to be extremely successful.”
To this end, he endorses former Department of Human Settlements minister Tokyo Sexwale’s decision to appoint Advocate Taswell Papier to administer the EAAB, saying that his move had paid off.
“Advocate Papier got stuck into getting the EAAB’s house in order, as a result of which the administration of the EAAB has been lifted and it has a new acting CEO at the helm.”
The signing of the MoU is a further indication of the move towards professionalising the industry, and one that could not have come at a more important time, he believes.
According to Van Jaarsveld, one of the partnership’s key objectives is the transformation of the industry in a way that will benefit both employees and businessowners going forward.
“Statistics released by the EAAB at the end of 2012, show that the real estate industry is predominantly white, with a mere eight per cent of the 34 191 registered estate agents being black.
“Accordingly, the partnership will focus on creating awareness among black people of the viability of real estate as a career, not only financially, but also with regard to personal growth and development prospects.”
Further to this, he says the affiliation between the two entities will serve as a springboard for industry-related bodies to engage in meaningful discussions about key issues such as legislation and industry governance.
