IEASA National - News

Rawson says Estate Agency Affairs Board fee increases are not unreasonable   Article Date :24 Mar 2006 EAAB Fee increases as per Government Gazette 28588 Adopting a supportive attitude to the Estate Agency Affairs Board's recently approved increases in fees, Bill Rawson, President of the Institute of Estate Agents, said that the effect of the rises might deter part-timers and those lacking in commitment from joining the property industry. "The rises are, it has to be admitted, really steep," said Rawson, "but, on reflection, that might not be a bad thing because with 72,000 registered agents, 20,000 of whom have joined in the last 12 months, we now, in my opinion, have too many people serving the industry." With the new fees now presented, * the examination fee rises to R400 * the Fidelity Fund Certificate for an agent entering the industry rises from R212 to R529 * an agent renewing his or her registration now pays R364.80 instead of R122 and * a first time principal certificate costs R1,270 instead of R487 whilst his renewal fee increases from R320 to R866 Rawson said that the Board had been denied several smaller increases over the last five years. "We have to acknowledge that had these been approved the current levels would have seemed far more reasonable," he said. “The Department of Trade and Industry (DTI) has called for nominations to be appointed for a new Board and the increases will certainly help in achieving their objectives.” CLICK HERE TO RETURN TO THE MAIN NEWS PAGE