Real Estate News

Do you have your 2021 FFC?

FFC's

Picture: Rebosa offers assistance to compliant estate agents still waiting on their Fidelity Fund certificates for 2021.

A new year dawns and yet again a number of anxious estate agents began the year without their 2021 Fidelity Fund certificates (FFC’s), despite having applied and paid timeously. If this applies to you, Rebosa will aid you to get the matter resolved.

For the past couple of years, the Estate Agency Affairs Board (EAAB) has battled to issue all the annually renewed FFC’s to registered and compliant estate agents before 31 December. Last January industry body Rebosa supplied a list of hundreds of outstanding queries to the board.

Also read: EAAB disappoints

A few weeks into this year, once again there appears to be many registered and compliant agents without renewed FFC’s for 2021 – an FFC is a mandatory requirement to claim commission. Jan le Roux, chief executive of Rebosa this week said they are receiving queries and complaints from agents who have not been issued with FFC’s.

This is despite assurances to Rebosa from the EAAB that FFC’s have been issued to all that qualified. Rebosa has asked for confirmation of the number of FFC’s issued but unlike previous years totals have not been disclosed.

Rebosa is therefore inviting all registered and compliant estate agents who held a valid FFC in 2020 and who applied for their 2021 FFC renewal in the prescribed manner and period to log their information on their website by clicking the link HERE and they will try to assist. There is no cost involved.

  • Property Professional also sent a query to EAAB CEO Mamodupi Mohlala for an update on the situation at their side. Our questions in bold and their response in italics as received on Friday 15 January 2021 follows:

Please provide comments on the situation regarding the issuing of FFC renewals for 2021. 

All compliant FFC’s for 2021 have been issued. We have also asked all industry bodies if there are any compliant FFC applicants who have approached them about delays or non-issuance. They have all confirmed they are in receipt of their FFC that are compliant.

How many FFC’s must still be issued to agents who applied and paid for them timeously last year?

All compliant FFC’s on our system were issued on 31 December 2020. We therefore believe all compliant FFC’s have been issued.

Why is there again a backlog in the timely issuing of FFC’s?

There is no backlog of complaint FFC’s these have all been issued as per the records. The only FFC’s remaining are those that are not compliant and we have asked them to provide outstanding documents, once those documents have been provided we will proceed to issue an FFC to a compliant applicant for an FFC.

What is being done to remedy the situation?

We are in the process of finalizing the appointment of a suitable ERP service provider who will come in and update the system accordingly once the system is properly upgraded we will be better positioned to ensure timeous and complete issuance FFC’s without too much human involvement but have the system mostly much improved efficiency.

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