Jan le Roux, CE of Rebosa, wrote the following article regarding the turmoil in the real estate industry over the new feature FNB added to their banking app enabling their clients to privately list and sell their properties online without estate agents.

   
   
OPINION: THE FNB PANIC IN A TEA CUP
Change comes to every industry, also the real estate industry, the key thing for estate agents is to remain relevant and deliver value to their clients – then they will always have a place in the industry writes Simon Smith, director at Harcourts.

   
   
1 APRIL 2019 IS DEADLINE FOR FIC COMPLIANCE
In less than 5 months estate agents could face penalties of up to R10 million when 1 April 2019 rolls by and they are found to be non-compliant with the Financial Intelligence Centre (FIC) Amendment Act, yet the Estate Agency Affairs Board (EEAB) has yet to release the study material to instruct them on the Act and its implications for the industry.

   
   
IN 2019 AFFORDABILITY AND LOCATION WILL BE KEY PROPERTY DRIVERS
Affordability and location have emerged as key considerations with property buyers during this tough as nails year and they are expected to remain important in 2019. This and other insights as to the increased popularity of sectional title homes emerge in the Pam Golding Properties Annual Residential Property Report 2018 by Dr Andrew Golding, CE of Pam Golding Property group.

   
THE IMPACT OF THE PROPOSED RENTAL HOUSING AMENDMENT ACT
Landlords can in future be liable to a fine or imprisonment of up to two years, or both, if they fail to provide their tenants with a written lease agreement or fail to repay a tenant’s deposit with interest or rent out properties that are not deemed ‘habitable’. It is expected that South Africa will soon see important changes to its rental housing legislation.

   
   

     

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