Rebosa welcomes request for probe into Estate Agency Affairs Board

Posted On Wednesday, 13 June 2018 18:56 Published by
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Rebosa welcomes request for probe into Estate Agency Affairs Board

Statement by Jan le Roux:

We welcome this investigation, but wish we had a little more confidence in the Public Protector.Her misplaced enthusiasm re SA Reserve Bank endeavour and lack thereof with the Estina farm scandal come to mind.  

We’ve heard rumours of the irregular registration of estate agents and cash changing hands in this regard, but cannot confirm. There’s however no doubt that thousands of agents are operating illegally and that the service delivery, work ethics and systems of the EAAB leave much to be desired. Rebosa wasn’t aware of a forensic report by Grant Thornton, but we are in constant interaction with EAAB officials re service delivery.

Where as we are not aware of the irregular usage of funds, we are unfortunately overwhelmingly aware of the wastage of funds and resources. An estimated 30%-50% of the current expense in the operation of the Board can be saved by more effective self-regulation. For the service it delivers, the running expenses of the Board far exceeds its efficiency.

Anything between R30 million and R50 million per annum can be saved and applied more effectively, for example to effect meaningful transformation in the property industry.

Last modified on Monday, 18 June 2018 13:52

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