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BL Premium reports that a non-profit group that is the largest representative body of estate agents in SA, the Real Estate Business Owners of SA (Rebosa), has welcomed a forensic probe into the Estate Agency Affairs Board (EAAB).
Jan le Roux, CEO of Rebosa, which is taking legal action against the EAAB, said the audit called for by Human Settlements, Water & Sanitation Minister Lindiwe Sisulu was a positive step towards resolving the EAAB’s long-standing problems. The probe follows criticism of the EAAB’s record in regulating an industry that oversees about 46,000 agents and 5,000 firms nationwide. Last month, Rebosa launched a legal challenge against the EAAB because of its failure to issue operating licences timeously. In her letter, dated 1 March, Sisulu said the scope of the forensic audit would cover events that occurred in select areas over the past two years. First there would be an audit of the Estate Agents Fidelity Fund, including all transactions and investments done and processes followed. The appointment of EAAB staff as well as tenders awarded and procurement processes followed would also be investigated. All legal matters attended to by the EAAB and how they were paid would be interrogated. The minister asked for co-operation for the audit and said that its cost would be for the account of the EAAB.
- Read the full original of the report in the above regard by Alistair Anderson at BusinessLive (paywall access only)
Get other news reports at the SA Labour News home page