EAAB 3 month fidelity certificate amnesty

Posted On Tuesday, 14 June 2011 02:00 Published by eProp Commercial Property News
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The Estate Agency Affairs Board has recently announced that a three month amnesty period for illegal estate agents (i.e. those operating without a Fidelity Fund Certificate) is now going into operation

The Estate Agency Affairs BoardThis, the EAAB has said, will promote a climate of transparency and reconciliation between those agents who are in default and the Board, the aim being to eliminate the current backlog of agents operating without Fidelity Fund Certificates.

Tony Clarke, MD of Rawson Properties (which definitely forbids any agents operating under its banner to do so without a Fidelity Fund Certificate), said that this move by the EAAB is to be commended because the number of ‘illegal’ agents is now probably higher than ever before and the situation will grow worse when those who have failed to apply for the compulsory EAAB educational training have to accept that they will no longer be issued with certificates to operate as agents.  Registration is mandatory by no later than the end of 2011.

“Also serious,” said Clarke, “is the fact that if the client of an unregistered agent finds that he has been cheated financially, he has no recourse to the EAAB compensationary Fidelity Fund.  It is, therefore, essential that all who enter into dealings with an agent check first that he has a valid up-to-date certificate from the Board.”

The EAAB itself, said Clarke, must now ‘get its act together’ and bring the issuing of certificates up-to-date.

“Different statements are bandied about on the situation, but it is quite clear that the Board itself is still a long way behind catching up with the issuing of certificates.  We have come across cases where agents who applied in October last year are still without their certificates.  Fortunately the new Chairman has undertaken to remedy the situation as fast as possible - and we are confident that he will see to this.”

 

Last modified on Tuesday, 11 March 2014 15:48

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