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On February 18th, the National Association of Real Estate Agencies (NAREA) and the Institute of Estate Agents of South Africa (IEASA) have announced that they have joined forces. In a move calculated to help unify the estate agency industry, NAREA will cease to operate and five members of the current NAREA board will be absorbed on to IEASA’s board of directors.

NAREA chairman Eskel Jawitz said that his organization wanted to create unity in the real estate industry, which was facing significant challenges and needed to present a united front in order to be able to influence its own destiny. The NAREA board had consequently resolved to join forces with the 70-year-old IEASA. This move would also further the Black Economic Empowerment (BEE) interests of the industry.

Dr. Willie Marais, national president of IEASA, said the IEASA board was pleased at the efforts made by the industry leaders represented in NAREA to enable and promote unity and make it easier for industry players to operate. “The IEASA board had previously said it was willing to accommodate all leading industry players, so it could operate from a position of strength in both national and international arenas. Now NAREA’s decision to join forces with IEASA will create a stronger lobby to deal with government on issues important to estate agents, and an organization more representative of the whole (South African) industry in international forums.”

NAREA representatives will get rights to sit on the IEASA Past Presidents’ Advisory Council, as well as on the IEASA Corporate Groups’ Advisory Council, from where they may be appointed to the IEASA national board of directors.

IRPF welcomed the move that will strengthen the Foundation’s efforts on BEE. “One of our principal objectives was to reunite the IEASA with the new (NAREA) organization, so that they would speak with one voice and give continuity to our plans to deliver BEE in South Africa,” said IRPF President and CEO, Norman Flynn.

In order to facilitate its organizational growth, the IEASA Board has resolved that two more vice-president positions will be created, bringing the total to three vice-presidents to assist with the workload of IEASA management on national and international level. One will take responsibility for regional matters, another for international matters, and the third for statutory matters.

The Foundation was applauded on its role in encouraging the unification. “This confirms that IRPF has achieved a significant milestone in its role as catalyst for building the South African real estate industry,” remarked Chris Barltrop, Senior Financial Markets Advisor, United States Agency for International Development (USAID).



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