Property body clamping down on estate agents
All intern or candidate estate agents who had been registered for more than two years by 1 February this year, must pass the industry exams by 31 January 2023 – or they will be deregistered.
Fin24 reports that the Property Practitioners Regulatory Authority (PPRA) says 9 000 estate agents may be affected, but industry body Real Estate Business Owners of SA believes the number is closer to 20 000 people.
Government launched the PPRA earlier this year to replace the Estate Agency Affairs Board.
New legislation gave the PPRA more powers, including inspections without notice and more serious consequences for non-compliance.
New regulations were adopted in February this year, which require that new entrants to the profession, who register as intern or candidate property practitioners only have 180 days (or six months) to qualify by passing the relevant exams.
The PPRA says it is clamping down on a lax approach followed by the EAAB, which simply continued to re-register those who did not qualify within the two-year period allowed in terms of regulations.
‘We want to be in line with our statutory mandate of protecting consumers and ensuring the professional standard of the industry,’ said the PPRA.
Article disclaimer: While we have made every effort to ensure the accuracy of this article, it is not intended to provide final legal advice as facts and situations will differ from case to case, and therefore specific legal advice should be sought with a lawyer.
