After conducting a snap audit of its 50-strong franchise network around the country, the Leapfrog Property Group has cancelled, with immediate effect, its agreement with a franchisee in Cape Town whose trust account does not balance.

At the same time, Leapfrog has reported the franchisee to the Estate Agency Affairs Board (EAAB), has seized control of the administration and winding down of the business it shut down, and is monitoring the situation closely, says Leapfrog chairman and founder Jan le Roux.

“Meanwhile, we have advised the EAAB that all other Leapfrog franchises around the country are in good standing,” he adds.

The independently operated franchise in question had two offices – City Bowl and De Waterkant.

“To ensure as far as possible that no clients are inconvenienced Phill Conning, the highly successful Leapfrog Property franchisee for Tableview and surrounding areas, has opened a new franchise in De Waterkant – where it is business as usual,” says le Roux