Government looks to speed up transformation in estate agency sector

Human Settlements Minister Connie September has launched an initiative to speed up transformation in the estate agency sector.

The ‘One Learner – One Estate Agency’ programme, which will be administered by the Estate Agency Affairs Board (EAAB), aims to change the landscape of the industry.

Minister September on Thursday said only about 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… This patent lack of meaningful transformation, notwithstanding the consistent endeavours of the EAAB to inculcate awareness amongst sector role players of the transformation imperative, can no longer be tolerated,” she said.

Through the programme, the EAAB and its partners are targeting to recruit 10 000 new entrants to the sector over a period of three years, commencing in April 2014 and ending on 31 March 2017. This means over 3 300 new entrants will be recruited to the sector every year.

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 on 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. – SAnews.gov.za

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