What qualifications are needed to become an estate agent?
Category Article of Interest
Very few people, excluding estate agents, know exactly what qualifies a person to become an estate agent in South Africa. The requirements have changed over the years, and more recently in 2008 by the publishing of regulations by the Minister of Trade and Industry as empowered under s33 of the Estate Agents Affairs Act of 1976, and determinations published by the Estate Agency Affairs Board (EAAB) in 2012. The current position in respect of new entrants into the market as estate agents is thus as follows:
- Completion of a 12-month internship under the mentorship of a full status estate agent with no less than 4 years' experience
- Completion of a NQF4 Further Education and Training Certificate in Real Estate with a Services SETA (SSETA) accredited training provider
- Completion of a Professional Designation Examination (PDE), conducted by the EAAB
The 12-month intership period starts automatically upon registration as new estate agent with the EAAB. The internship period entails the completion of a logbook of practical activities performed during the duration of the internship, as well as projects and assignments that need to be completed and filed as a portfolio of evidence (POE), which needs to be submitted to the EAAB for approval.
The NQF4 qualification can, and preferably should, be started alongside the 12-month intership period. The contents of this training differs from one accredited training provider to another, but generally entails theoretical knowledge of the different aspects of the real estate industry, such as Ethics, the Code of Conduct, Marketing, Legal, Finance and etc. It typically takes between 6 - 18 months (depending on work ethic) for an estate agent to complete the NQF4 training, which upon completion, needs to submitted to the training provider (also in the form of a POE), which then needs to be assessed and moderated by an assessor and moderator appointed by SSETA.
The final requirement to attaining status as a Full Status estate agent is to write and pass an open book, four hour exam (PDE) conducted by the EAAB.
After attaining Full Status as estate agent, aka Professional Practitioner in Real Estate, estate agents need to undertake regular professional training (Continuing Professional Development) of no less than 15 hours per year in the case of formal training, plus 5 hours per year of informal training.
At RE/MAX Bay, we pride ourselves on our high levels of guidance and support to our estate agents in ensuring that we are compliant in all respects of our business. RE/MAX Bay estate agents have access to a company training programme that deals with various topics, which is presented by a host of different trainers from both within the company as well as outside trainers who are experts in their respective fields. Our training programme also contains exclusive RE/MAX training courses acquired by RE/MAX International and compiled by the leading real estate trainer in the world, Brian Buffini.
Author: RE/MAX BAY