From the pen of iSiKOLO
Since the amendment to the Estate Agency Affairs Act in 2008 all real estate industry members are required to obtain prescribed qualifications and achieve a professional status with the EAAB. The EAAB is the only regulatory body of the real estate industry.
Consumers have the right to request proof of registration with the governing body. This is called the agent’s FFC- Fidelity Fund Certificate- the only proof that they are indeed registered as real estate practitioners.
In addition- all registered practitioners are required to reflect their privy seal on their email correspondence with consumers. The privy seal is a consumer protection initiative introduced by the EAAB to indicate to a prospective consumer that they are dealing with a registered real estate practitioner.
The onus rests on the consumer to ensure they are dealing with professionals.
