B Property Law supports compliance in the Real Estate Sector and the implementation of the Property Practitioners Act of 2019.
Why deal with a registered and qualified property practitioner and what are the requirements?
It is legally required that all property practitioners practicing in the Real Estate Industry, must register with the Property Practitioners Regulatory Authority (PPRA), when they join the industry and renew that registration on an annual basis, to practice as an estate agent.
The PPRA issues the agent with a Fidelity Fund certificate (FFC), which is proof of valid registration. The registration fees of all practitioners are paid to the fidelity fund, administrated by the EAAB.
The biggest advantage in dealing with a registered property practitioner, is that the public (Seller or Buyer), will have recourse to the PPRA and fidelity fund, should there be any misconduct. (Certain conditions apply). It is therefore good practice for a potential buyer or seller to ask a property practitioner to provide them with proof that they are registered with the PPRA, compliant and in possession of a valid FFC.
From 2008 it is a legal requirement of a person that intends to practice as a property practitioner, to undergo a 12-month internship and submit a portfolio of evidence to the PPRA as proof thereof, as well as to complete the NQF Level 4 Real Estate qualification. Once the candidate property practitioner is competent, the PPRA Level 4 Professional Designation Exam (PDE4) must be written. After writing and passing the exam a Property Practitioner in Real Estate (PPRA) certificate will be issued by the PPRA.
These prerequisite qualifications, without a doubt, bring trustworthiness and professionalism to the real estate industry and add value to a seller and buyer, in knowing that they’re dealing with a qualified professional property practitioner.
Why deal with a registered and qualified property practitioner and what are the requirements?
It is legally required that all property practitioners practicing in the Real Estate Industry, must register with the Property Practitioners Regulatory Authority (PPRA), when they join the industry and renew that registration on an annual basis, to practice as an estate agent.
The PPRA issues the agent with a Fidelity Fund certificate (FFC), which is proof of valid registration. The registration fees of all practitioners are paid to the fidelity fund, administrated by the EAAB.
The biggest advantage in dealing with a registered property practitioner, is that the public (Seller or Buyer), will have recourse to the PPRA and fidelity fund, should there be any misconduct. (Certain conditions apply). It is therefore good practice for a potential buyer or seller to ask a property practitioner to provide them with proof that they are registered with the PPRA, compliant and in possession of a valid FFC.
From 2008 it is a legal requirement of a person that intends to practice as a property practitioner, to undergo a 12-month internship and submit a portfolio of evidence to the PPRA as proof thereof, as well as to complete the NQF Level 4 Real Estate qualification. Once the candidate property practitioner is competent, the PPRA Level 4 Professional Designation Exam (PDE4) must be written. After writing and passing the exam a Property Practitioner in Real Estate (PPRA) certificate will be issued by the PPRA.
These prerequisite qualifications, without a doubt, bring trustworthiness and professionalism to the real estate industry and add value to a seller and buyer, in knowing that they’re dealing with a qualified professional property practitioner.
Why would B Property Law be involved in this process?
In our working relationships with real estate agencies, we have identified the need for facilitation and assistance with the required qualifications and we have setup a program of facilitation sessions around the country, assisting numerous property practitioners, monthly.
Our passion to provide a value-added service to the Real Estate Industry, drives this initiative and supports the effort to gain professional status, for those people engaged in the business
of selling houses. We believe this supports our vision to keep all clients satisfied, by introducing them to a confident and professional attitude of people.