In order to become a full pledge estate agent in the South African real estate industry, you need to undergo some training or internship and provide all the requirements of the Estate Agency Affair Board. Of all the requirements, one that seem to be the most confusing among new intern agents as well as the principal agents is the eaab logbook 2015. All of those who would be registered as intern agents need to have it whether or not they go through the academic qualification or be exempted from it due to having higher degrees.
The logbook serves as proof of all the tasks you have done and all the experiences you had during your internship. This would include the list of tasks you did like inspections, show houses, establish property values, provide after sales service, assist buyers or sellers, attend trainings or meetings, and many others.
Sections Covered During Internship
The whole internship should cover ten workplace experience sections and these should all be noted in the logbook. The different sections include, paralegal environment, estate agency management, agency administration and systems, marketing, code of conduct, real estate products, accounting/ financial process, and legal environment, which is divided into the contracts and acts.
People Involve In The Internship
The internship will include the intern as well as a principal agent who will have the task of completing the logbook. The principal agent is your mentor or your guide during the whole internship process. It is important to build a mentor-protégé relationship between the two of them. Communication is also very important to make sure that the intern will learn a lot from his or her experience in the internship.
Requirements Interns Have To Make
During the internship, assignments and projects would also be given in order to test or teach the intern to thrive in the workplace. It is required to have 10 or more projects within the year of internship and some of the projects that can be given would include developing a business plan, developing a marketing plan, designing a brochure, drafting activities schedule, research projects and many others.
Responsibility Of Principal Agent
As the principal agent, he or she is required to make sure to know the different requirements with regards to the logbook. You need to interact with the intern to plan activities for him or her. It is also up to you to provide training or workshops for the intern. The logbook should be duly signed by you and you should also create monthly reports. At the end of the internship year, you should also certify that the intern you have is ready.
Other Parts Of The Logbook
Aside from the tasks the intern does, the logbook should also contain the contract between the two parties, time sheets, proof of training, appraisal reports, and other reports. These should all be signed by the intern and the principal agent. The logbook will be sent to the EAAB for approval so it is best to make sure that everything is complete and in order so that the year of internship will not go to waste.