With the need to effect meaningful transformation in South Africa, the principals formed a body to represent their best interests and the to advise members of how they can most effectively deal with the aspirations of both the consumer and all who wish to make real estate their career.
There are also a plethora of new bills that affect the way that we act as employers and how we treat our consumers. It is of vital importance that the industry has a clear understanding of new legislation and also gives recommendations on any point, where we feel that the drafter of the bill has not applied their mind effectively.
Certain of our functions were originally attended to by the Institute of estate agents and with that body now changing its function to represent employee Agents, it has become necessary have a body which is there to look after the best interests of Principals and to guide them on best codes of practice.
Our industry is also heavily reliant on the banking industry to provide mortgages for the greater majority our purchasers and one of our challenges is guide our consumers in the best way to arrange the finance that they need, especially as the banks are tightening up on their lending requirements. REBOSA will develop meaningful interaction with the banks so that we can help estate agencies to understand the different policies adopted by the various banks. Furthermore there is a symbiotic relationship between the banks and estate agents that needs to be developed to our mutual benefit and also to assist the consumer as well.
REBOSA is upbeat about the future of our beloved country and very conscious of the need for quality housing throughout our land. In this respect, although we are not necessarily developers, we will encourage developers to do their market research and then provide the product that the consumer wants.
One of the bills that we are looking at presently is “Draft National Credit Amendment Bill2013. This bill seeks to tighten measures relating to debt counsellors and the conduct of their practices as debt counsellors; to allow debt counsellors to voluntarily cancel their registration; to empower the NCR to cancel registrations; to empower the NCT to suspend certain reckless credit agreements; to tighten the requirements that credit providers must adhere to in respect of marriages in community of property; to provide for the registration and accreditation of Alternative Dispute Resolution structures and to provide for matters connected therewith.”
The intention of this bill is to make the entire industry more responsible and to give more emphasis on the rights of the consumer. REBOSA supports the aims of this legislation and will be looking at what submissions that we can make to enhance the application of this bill. We have until 23/6/2013 to make these submissions.