WHAT WE DO
The Estate Agents Council of Zimbabwe (EACZ) is a statutory body set up by an act of Parliament [Chapter 27:17] captioned No 6/99. It was enacted: to provide for the functions and powers of the Estate Agents Council; to provide for the registration of estate agents and the regulation of the practise of estate agents in Zimbabwe; and to provide for the operation of the Estate Agents Compensation Fund. The Council was enacted to also regulate the keeping of money held by estate agents on behalf of other persons; to repeal the Estate Agents Act (Chapter 27:05); and to provide for matters connected with or incidental to the foregoing.
The EACZ has been in existence since the 1970s initially focussing on property sales and valuation under practise as an estate agent but subsequently amended in 1999 to exclude valuation but to now include property management. The business of estate agency is thus anchored on two main activities: property sales and property management. Two separate bodies now regulate the professions of estate agency and valuation – the Estate Agents Council under the Ministry of Justice, Legal and Parliamentary Affairs and the Valuers Council under the Ministry of Public Construction and National Housing. As such not all estate agents are valuers and neither are all valuers estate agents but some members are qualified and registered under both bodies.