Share

More estate agents in suspected graft

Johannesburg - Two more big estate agents have been linked to alleged corruption as the Estate Agency Affairs Board (EAAB) announces a three-month amnesty period, board chair Thami Bolani said on Thursday.

“Since last week Wednesday we have had two more reports against two major companies,” Bolani said.

The amnesty period for estate agents will start on April 15 for three months, but if there were sufficient demand it could be extended for up to six months.

“The real purpose of this initiative is to get those estate agents operating illegally... to start complying with the law,” Bolani said.

There are around 5 000 to 10 000 agents operating without valid Fidelity Fund Certificates, which are required by the Estate Agency Affairs Act.

The EAAB wants agents operating in townships and rural areas to take advantage of the amnesty period to get their certificates and then to be assisted with training, to become professional estate agents.

“It's really meant to attract those in disadvantaged areas,” he said.

Bolani said part of the criteria for amnesty was that the applicant make honest disclosure and must not have been involved in illegal activity like dipping into their trust fund.

The complaints against the two “major” agencies had been referred to the EAAB's executive committee to see if they were valid. Should a decision be taken to formally investigate the agencies, it would be make public, Bolani said.

The EAAB recently conducted an investigation into high-profile Wendy Machanik for misuse of trust funds, which led to the closure of Wendy Machanik Properties.

The EAAB is also investigating Seeff Properties, Dusty Moon Investments t/a Seeff Klerksdorp, Constantia Sectional Title Management and Keith Wakefield Properties.
We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.90
+0.2%
Rand - Pound
23.86
+0.2%
Rand - Euro
20.36
+0.3%
Rand - Aus dollar
12.31
+0.2%
Rand - Yen
0.12
+0.2%
Platinum
908.05
0.0%
Palladium
1,014.94
0.0%
Gold
2,232.75
-0.0%
Silver
24.95
-0.1%
Brent Crude
87.00
+1.8%
Top 40
68,346
0.0%
All Share
74,536
0.0%
Resource 10
57,251
0.0%
Industrial 25
103,936
0.0%
Financial 15
16,502
0.0%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders