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History of IEASA |
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History of IEASA Organisation The Institute of Estate Agents & Auctioneers of South Africa (IEAASA) was founded in 1937 by four provincial estate agent associations which joined forces as a national body: the Real Estate Agents' Institute of the Transvaal (formed in 1905); the Natal institute; the Orange Free State institute (formed in 1932); and the Cape of Good Hope Institute of Chartered Estate Agents and Auctioneers (formed in 1935). The first president van Henry Hermann. The objects of the IEAASA were to to look after the professional interests of their members; to raise industry standards; and in so doing to help protect the consumer. The auctioneers formed their own association in the 1960s, and in 1967 the IEAASA changed its name to the Institute of Estate Agents of South Africa (IEASA), which has remained its name, except for a few years (1995-2001) when the organisation was called the " Until the early 1990s, the IEASA was a single organisation, with a chief executive and head office in Recent national presidents have been: Industry standards and consumer protection At the outset, the IEAASA identified a need for government-backed industry regulation and consumer protection, but it proved difficult to persuade the government to introduce them. The IEAASA tried unsuccessfully in 1938-39, 1944-45, and 1950-51, to persuade Parliament to pass national legislation. In the late 1950s, it tried to have provincial legislation passed instead, but the idea was still far ahead of its time. In the face of government reluctance to set standards, the IEASA took the initiative and established a voluntary Estate Agents Fidelity Fund in 1966, to protect sellers and buyers. At last, in 1977, the government established an Estate Agents Board to regulate the industry. By law, every estate agent had to be registered with the EAB, and contribute to the fidelity fund, which the IEASA handed over to the EAB. Services to members The IEASA introduced many member services and benefits over the years. They included standard legal documents; training; magazines and newsletters; a film and videotape library; supplier discounts; a pension scheme; a provident fund; group life assurance; and guidelines on professional fees and commissions. The latter was discontinued in 2004, after changes in the competition laws. Industry development Besides its efforts to establish industry regulation and consumer protection, the IEASA has contributed to the development of the industry in other ways. Services to members The IEASA introduced many member services and benefits over the years. They included standard legal documents; training; magazines and newsletters; a film and videotape library; supplier discounts; a pension scheme; a provident fund; group life assurance; and guidelines on professional fees and commissions. The latter was discontinued in 2004, after changes in the competition laws. Industry development Besides its efforts to establish industry regulation and consumer protection, the IEASA has contributed to the development of the industry in other ways. IEA directors and members have served on the Estate Agents Board since its inception, and some have chaired the EAB. In the late 1970s, the IEASA served on the Steyn Commission sub-committee to establish a Black estate agency industry. In 1995, it played a prominent role in squashing a proposed "Property Transactions Bill" which would have undermined industry standards and consumer protection. With the advent of democracy and public consultation on legislation, the IEASA has given input on government proposals such as the new municipal rating system, new electrical installation regulations, coastal land management, and land reform. In 2005, it produced an extensive report on industry regulation and legislation, for submission to a government investigation. The IEASA is a signatory to the Property Sector Empowerment Charter, which promotes Black economic empowerment in the industry. Education and training The IEASA attached great importance to professional education. In 1976, in the absence of any official qualifications, it introduced the Certificate of the IEA (CIEA) qualification, which continued until 1984. In the 1980s, it imported some American courses and programmes, and co-founded the National Property Education Committee. Today, the IEASA is a member of the SA Property Education Trust, and the Services SETA's property chamber. International links The IEASA has been affiliated with the National Association of Realtors (NAR) in the |
