Author: Abbaas Kamalie
As the Property Practitioners Act (the “Act”) came into effect on the 1st of February 2022, the Estate Agency Affairs Board (the “Board”) has been replaced by the Property Practitioners Regulatory Authority (the “Authority”).
The Authority is governed by the Act and is tasked with regulating the affairs of all property practitioners in the property related industry. One of the main focuses of the Authority is the conduct and compliance of property practitioners in their dealings with property related consumers as the protection of consumers is foremost. The Authority now has additional powers whereby there is more serious consequences for non-compliance by property practitioners. The Authority may now request documents from property practitioners and further inspect property practitioners’ business premises without notice in terms of section 25 of the Act.
The Authority will also be regulating, transforming and putting measures in place for financing, marketing, managing, letting, hiring, sales, property consumer education and the purchasing of property as stipulated in section 5(4) of the Act.
Section 6 of the Act specifically stipulates the functions of the Authority as follows:
a) regulate the conduct of property practitioners in dealing with the consumers;
b) regulate the conduct of property practitioners in so far as marketing, managing, financing, letting, renting, hiring, sale and purchase of property are concerned;
c) regulate and ensure that there is compliance with the provisions of the Act;
d) ensure that the consumers are protected from undesirable and sanctionable practices as set out in section 62 and section 63;
e) regulate any other conduct which falls within the ambit of the Act in as far as property practitioners and consumers in this market are concerned;
f) provide for the education, training and development of property practitioners and candidate property practitioners;
g) educate and inform consumers about their rights as set out in section 69; and
h) implement measures to ensure that the property sector is transformed as set out in Chapter 4.
The Minister of the Department of Human Settlements has also published the Property Practitioners Regulations in terms of section 70 of the Act, which further deals with the application of the Authority in order to achieve the objectives of the Act and to ensure that it is properly complied with.
While the Authority’s website is still currently reflecting information of the previous Estate Agency Affairs Board, it is continuously being updated on how one may approach the Authority with complaints or inquiries via their website below. https://theppra.org.za/home
As it is evident that in order to achieve this massive positive transformation in the property related sector, various departments, regulations, boards and legislation has been put in to place to work hand in hand. It is vital to note that property consumers are more protected now than before and property practitioners along with the regulatory authority and boards are answerable with specific functions and processes in place to attend to issues, complaints, procedures and accountability.
To familiarise yourself in more detail with the Property Practitioner’s Regulations and the Property Practitioner’s Act: https://www.gov.za/sites/default/files/gcis_document/202201/45735pr47.pdf
https://www.gov.za/sites/default/files/gcis_document/201910/42746gon1295.pdf