The Property Practitioners Bill, 2018 is intended to replace and repeal the Estate Agency Affairs Act of 112 of 1976 and is intended to govern amongst others estate agents. It was introduced to the National Assembly on 14 June 2018 and was passed by the National Assembly on 4 December 2018. It has since been passed by the National Council of Provinces on 28 March 2019 and has been sent to the President for assent.
The Bill has been amended since it was first published and our previous newsflash commented on the Bill in its initial form. This newsflash is a based on the Bill in its current form as amended and approved (B21B -2018) is intended to provide a summary and a brief outline of the proposed changes which will be relevant and applicable to “property practitioners”.
The definition of “property practitioners” is extensive and will regulate all estate agents, the Bill defines property practitioners as:
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