New Estate Agents
All new estate agents who enter the estate agency profession for the first time after 15 July 2008 are required to serve a compulsory one-year internship period working under the active supervision and control of a principal estate agent, or of a full status estate agent, who must had had at least three years of practical estate agency experience. A mentor-protégé relationship is created while the intern estate agent should also maintain a logbook (often also referred to as a 'Portfolio of Evidence') reflecting the various estate agency functions and activities undertaken during the course of the internship period.
Intern Estate Agents
The intern estate agent is required to complete the Further Education and Training Certificate: Real Estate. It has already been noted that this qualification is intended to enhance the provision of entry-level service within the property and real estate professions and to provide the broad knowledge, skills and values needed in the property and real estate environment. The intern estate agent may be certified against the Qualification after undergoing training through an accredited education provider or by way of the Recognition of Prior Learning route. It is expected that, after having served as in intern estate agent for a continuous period of twelve months, the new entrant into the estate agency profession will attain a similar degree of knowledge, skills and practical ability to those estate agents who have already been active in the profession for quite some time. The new educational dispensation has been carefully designed to ensure that the theoretical knowledge acquired in the classroom and the practical experience gained in the workplace compliment one another to provide a head start to succeed by introducing newcomers as painlessly as possible to the exciting new career that awaits them.
New Entrants Who Wish To Act As Principal Estate Agents
New entrants wishing to act as principal estate agents must be certificated against the National Certificate: Real Estate. This qualification not only adds value to the understanding of the property and real estate sector by principal estate agency practitioners but also enhances their appreciation of the practical functionalities occurring within the workplace. As the qualification is intended to build on the skills that have been gained during the Level 4 qualification before proceeding to the NQF 5 qualification. The NQF Level 5 qualification consolidates the broad knowledge, skills and values required in the property and real estate profession. The new entrants may be certificated against the NQF Level 5 qualification after undergoing training through an accredited education provider or by way of the Recognition of Prior Learning route.
Professional Designation Examination (PDE)
The completion of the Further Education and Training Certificate: Real Estate or the National Certificate: Real Estate, as the case may be, constitutes a precondition for admission by estate agents to the Professional Designation Examination ("PDE"). The PDE is a practical and integrated test of knowledge for estate agents that will be conducted by the EAAB. The PDE is the final test of the estate agent's ability practically to implement and apply the learning that has been achieved and successful candidates will be awarded a Certificate of Professional Recognition by the EAAB.
Continuous Professional Development (CPD)
A continuing professional development program will also be implemented in due course in accordance with current best practice requirements in most world-wide real estate regulatory jurisdictions. A major intention of the EAAB in introducing outcomes-based education for estate agents was to raise societal perceptions of estate agents to professional status. It has become increasingly accepted that members of a profession should maintain their professional competencies and standing through undergoing continuing professional education and development.