Sexwale announces new Estate Agency Affairs Board
HUMAN Settlements Minister Tokyo Sexwale on Thursday announced the new 15-member Estate Agency Affairs Board in Johannesburg, after he had dissolved the old board and placed the regulatory body under administration for six months.
Amanda Visser | BDLIVE
He dissolved the board in August last year after it was “wracked” by instability and allegations of corruption, the acrimonious parting of the previous CEO, Nomonde Mapetla, and the resignation of the board’s chairwoman, Ina Wilken.
On Thursday, Mr Sexwale assured the industry that the multibillion-rand Estate Agents Fidelity Fund had not been plundered.
The fund is meant to reimburse any person who has suffered monetary loss due to theft of trust monies by an estate agent.
“We remain committed to ensuring that there is total transparency around this fund to avoid any suspicion,” he said.
Mr Sexwale also said investigations into claims of corruption were continuing and that the police’s Special Investigative Unit would report to him in due course.
He said the integrity of the industry always had to be beyond reproach. The total property market in South Africa is worth slightly less than R5-trillion.
The board will meet in April and then appoint a new chairperson.
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