What does the Property Practitioner's Act (PPA) mean for you?

The Property Practitioners Act (No 22 of 2019) (PPA) will repeal the entire Estate Agency Affairs Act (No 112 of 1976 (EAA Act). Key objectives of the PPA are around protecting consumers, and facilitating transformation in the property industry.

The PPA impacts on you in a few ways. One of the game-changers for which the industry has been lobbying for many years, is the compulsory Immovable Property Condition Report, which must be provided by sellers/landlords, detailing all known defects on the property. There is now a positive obligation on a property practitioner to not accept a mandate from a seller or landlord without receiving this comprehensive disclosure document first, and it must be signed by all parties, and attached to the sale/lease agreement.

Employment in the property industry also gets a welcome look in, particularly for previous disadvantaged individuals who are keen to make a career in property. The PPA deals with transformation, putting in place mechanisms for promoting and enhancing participation of disadvantaged South Africans. Traditionally, it was often prohibitive for commission-only agents to comply with the numerous rulings. The PPA has made it easier and more affordable - prospective agents can study and sit their Professional Designation Examination (PDE) before joining an estate agency. If you've passed your PDE, you can start selling property (under supervision) in less than six months.

Myles Wakefield, CEO of Wakefields Real Estate, says they've long had a focus on equipping previously disadvantaged individuals with the skills needed to make a success of this industry. He pointed to Wakefields' own in-house Academy: "We're always keen for candidate property practitioners - formerly interns - who see themselves as being successful in the property world, to come and talk to us. Our highly rated Wakefields Academy not only sees sales consultants obtaining the required qualifications, but equips them with the skills they need to succeed in this competitive industry. With our numerous branches throughout the province, there's always a place for a keen, committed individual to carve their own niche."

According to the PPA, there is a greater obligation on property practitioners and estate agencies to carry and display their Fidelity Fund Certificate (FFCs), and are required to produce a copy on request to any interested party.

The Protection of Personal Information Act (POPIA) may have been in existence for a while now, but here's a little refresher. In a nutshell, POPIA protects your rights as individuals, specifically by insisting that 'data collectors' (that is, everybody who collects personal information):

• Obtain your consent before collecting, processing, storing or sharing data.
• Only collect data required for legitimate purposes - so don't 'over-collect'.
• Use the information in a way that matches the purpose of collection.
• Eliminate that information once it no longer serves the original purpose (unless required by law to retain it)

POPIA puts the decision of what information is given out, back in the hands of the individual to whom the information belongs. Essentially, you're getting your power back.