Page 18 - Nexia SAB&T Property and Tax Guide 2025

THE PROPERTY PRACTITIONERS ACT

The Property Practitioners Act (22 of 2019) aims to regulate all property practitioners
(not just estate agents), including estate agents and agencies, property brokers, home
inspectors, providers of bridging finance, bond brokers, marketers, auctioneers, property
managers, sellers of time share, developers, rental agents, home owner associations
(where a service is provided as intermediary primarily to sell/lease property in that home
owner’s association), digital portals that publicly exhibit properties, and employees of
attorneys who act as estate agents. The Act specifically excludes a person who does
not carry out any of these functions in the ordinary course of business, and a natural
person who sells their own property (even if it is in the ordinary course of business), as
well as attorneys, candidate attorneys and the Sheriffs of the Court. The Act applies to
the marketing, promotion, managing, sale, letting, financing and purchase of immovable
property. Some of its provisions include:
◆ The Property Practitioners Regulatory Authority (PPRA)
◆ The Estate Agency Affairs Board (EAAB) has been replaced by the PPRA,
known as the Board of Authority, which governs the property practitioners
profession (not just estate agents). It is also required to conduct campaigns
to educate and inform the general public of their rights and the obligations of
property practitioners.
◆ Transformation of Property Sectors
◆ When procuring property related goods and services, all organs of state must
utilise the services of property practitioners who comply with the broad-based
black economic empowerment and employment equity legislation and
policies.
◆ The PPRA must, within 6 months of its establishment, open a Property
Sector Transformation Fund, into which grants are paid- with the aim of
benefiting previously disadvantaged individuals (small black-owned property
practitioners).
◆ The Board must also consult with the services SETA to develop special
dispensation for training and development of the historically disadvantaged.
◆ The Minister may prescribe measures to promote economic transformation by
facilitating the accessibility of finance for property ownership, development
and investment in order to enable meaningful participation of historically
disadvantaged individuals including women, youth and the disabled.
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