Gauteng Business News

Send  Share  RSS  Twitter  20 Mar 2012

PROPERTY: Winds Of Change for Residential Real Estate Industry


Recent Gauteng Business News

“Never before has there been a more important for the real estate industry to assert itself. The sector needs a credible voice to take the lead, one that can make a tangible and positive difference. As an industry we need to create a united, fully represented front characterised by credibility and professionalism.” So says Deidré Penfold, Interim Chief Executive Officer of the newly formed Real Estate Business Owners of South Africa (REBOSA).

19 March 2012 will see the commencement of the countrywide launch of this brand new real estate industry body, which will be positioned as an independent, voluntary organisation representing the interests of all South African real estate businesses large and small.

According to Penfold a consultative process has been conducted throughout the various regions of the country to ascertain needs in the residential real estate profession. These detailed findings formed the basis of the Memorandum of Incorporation and Code of Conduct of REBOSA, which is to represent the interests of all business owners and principals within the real estate sector.

Developing the Real Estate Industry

Commenting on the formation of REBOSA Penfold said: “The key focus of the organisation is to unite, transform, uplift, empower and develop the real estate profession across all areas of the market, achieving an environment for businesses to thrive in and expand while contributing to a vibrant economy.”

According to Penfold REBOSA will safeguard the interests of the real estate sector in the wider business environment through organisations such as Business Unity South Africa (BUSA) and the National Economic Development and Labour Council (NEDLAC). REBOSA will become a fully inclusive voice for small, medium and large businesses alike.

“It is our intention to lead the real estate sector at a business level. In so doing we hope to influence economic, social and labour policy in the interests of members. We will furthermore lobby and advocate agreed positions and policies to promote and advance the greater real estate sector. Part of our mandate will include the commissioning of research on relevant issues. In order to remain fully appraised of the situation on the ground we will communicate and consult with members on important national and international affairs that may impact the South African real estate sector.”

Projects to Develop the Real Estate Sector

Penfold explains that a number of initiatives and projects will be launched in the coming weeks to support the objectives of REBOSA. “This is a call to action for real estate businesses,” she asserts. “As a first step a comprehensive database of business owners, principals and employers has been developed for each province. This will be continuously be updated. We have also provided input on the Consumer Protection Act and the Property Code. Communication will be a significant focus area within REBOSA with the implementation of a newsletter and an interactive website, which will be a forum for members to engage, ask questions, provide comments and be updated on major industry developments and, for example, the effects of legislation.”

REBOSA will work collaboratively with key stakeholders in uplifting the industry and contributing to the professionalism of the real estate sector, thereby ensuring its long-term sustainability within the economy. Membership is voluntary, and is open to all business owners, principals and employers who are registered with the Estate Agency Affairs Board and hold a valid Fidelity Fund Certificate.

An annual membership fee is payable and there are three membership categories on offer:

· Small businesses (1 – 5 employees)
· Medium businesses (6 – 19 employees)
· Large businesses (20 and more employees)

“REBOSA is representative of South Africa’s economy and demographics and will certainly be playing a meaningful and positive role in all aspects of real estate life,” concludes Penfold.

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