How to start an estate agency in South Africa
Looking to start your own estate agency? A well-known estate agency principal shares the steps and tips to start your own estate agency.
Get 12 months work experience
All new estate agents must join an existing estate agency as an intern for 12 months in order to obtain your Fidelity Fund Certificate (FFC). During your internship you will build a portfolio of evidence (PoE) which will be submitted to the EAAB.
If you’re already part of an agency or have past agency experience, you would still have to provide your PoE, to indicate you were active in the industry for at least 1 year.
Complete your studies
In order to become a full status agent you must complete the following within two years from the time you receive your Fidelity Fund Certificate (FFC):
- National Qualification Forum Level 4 Real Estate (NQF4)
- EAAB Professional Designated Exam level 4 (PDE4)
Once you have completed the above you will be granted a full status agent position.
You can complete the courses online here.
Tip: To save time you can start your NQF4 after you have been in the business for three months.
Qualify as an estate agency principal
After completing your NQF 4 course, you would have to obtain at least 2 years worth of experience in a management role, or by running the estate agency.
Whilst you are busy obtaining your experience of running an agency, you must:
- Complete your NQF 5 course and obtain your NQF 5 certificate.
- Obtain your certificate of competency at SSETA.
- Submit your certificate and PoE (Proof you have two years experience as a manager for an agency) to the EAAB to register and write your PDE 5.
Once you have completed and passed your PDE 5, you will be qualified as an estate agency principal and would be allowed to run your own estate agency.
Register your company
At this stage You’ll be fully qualified. You can complete the process by registering your company with the CIPC to get your official registration documents.