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South Africa industry continues reorganization
July 04, 2012
The process of reorganising South African estate agents into separate representative bodies for "business" (i.e., principals) and "labour" (i.e., non-principals) continues. The Institute of Estate Agents of South Africa (IEASA)
has finalized a new Memorandum of Incorporation as the labour body and submitted it for registration.
According to IEASA President Johalna Minnaar, the group has also made good progress towards creating the principals' body. “This will be the ‘business’ counterpart to the IEASA,” she writes in a member update. “It will be called the 'South African Real Estate Principals Organisation,' or SAREPO. Once SAREPO has been registered, principal estate agents will migrate from the IEASA to their new organisation.”
The need for separate bodies is to comply with government in order to be recognized as the representatives of the profession. IEASA is now part of the finance/real estate/business services sector, which is the largest single contributor to South Africa's economy (currently 15% of the gross domestic product). “We need to have a say in decisions that affect us. If we don't, others will take it upon themselves to speak for us,” says Minnaar.