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.
“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.