The Property Practitioners Bill, 2016 was published on the 31st of March 2017 (the “Bill” or “Act” for the purposes of this newsflash), is now open for public comment until 30 April 2017 and is intended to replace and repeal the Estate Agency Affairs Act of 112 of 1976. It is recommended that all interested persons, in particular estate agents, submit all comments, objections and clarifications before this date to promote that these are taken into account in revising the draft Bill.
This article 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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