Media Statement - 05 October 2012
The Estate Agency Affairs Board Summit held in Gallagher Estate over the past two days ended today with a wide range of valuable recommendations made by role players in the industry.
In his closing remarks the Director General of the Human Settlements department Mr Thabane Zulu assured the practitioners that their deliberations will not be lost. "There will be constant communication with various stakeholders in this summit. Rest assured this is not a talk shop”, said Zulu.
Key among recommendations from the practitioners were:
- The need to improve education and training by encouraging the tertiary institutions to offer more courses relating to the industry.
- A need to provide capacity building and mentorship programme for PDI agents
- Transformation of the industry to be more representative of all races and along gender lines; with an emphasis in attracting the youth into this industry.
- The involvement of the Department of Human Settlements in regulating the industry and enforcing transformation
- Transparency in handling of the Fidelity Fund and its protection through reinsurance
- Legislation development that will enhance new entrants into the industry
‘EAAB needs to align its mandate along the vision of the Department of Human Settlements ensuring creation an environment that creates opportunities for all’, said Zulu.
Following the EAAB being put under administration, the summit recommended that board members upon appointment should relinquish their active participation in the market to avoid possible conflict of interests. Also the role of EAAB needed to be more visible and supportive of estate agencies.
Further consultation and engagement will take place to ensure that all role players are afforded an opportunity to contribute in turning around the institution.
Issued by the Department of Human Settlements
For any queries contact Xolani Xundu