Thursday, 20 April 2017 14:26

SAPOA Statement on the Draft Property Practitioners Bill

Written by
Rate this item
(0 votes)

The Property Practitioners Draft Bill was published for comment on 31 March 2017 and when gazetted into law, will replace the Estate Agency Affairs Act of 1976.

SAPOA supports the objectives of the draft Bill, which aims to:

·         provide for the regulation of property practitioners

·         provide for the continuation of the Estate Agency Affairs Board (EAAB) as the Property Practitioners Regulatory Authority

·         provide for the continuation of the Estate Agents Fidelity Fund as the Property Practitioners Fidelity Fund

·         to provide for consumer protection, and

·         provide for matters related matters

SAPOA recognises and supports the policy imperatives and the legislative objectives of ensuring the protection of consumers against the complexities that in most instances permeates in most business transactions.

According to CEO Neil Gopal, SAPOA conducted several engagements over the last 5 years with the EAAB to find common ground on matters impacting on the Commercial Property industry. The current version of the draft Bill does not take into account any of SAPOA’s previous recommendations.

“As a member-driven organisation, SAPOA has over the past 5 years dedicated a great deal of time, effort and resources in assisting the EAAB with redrafting and providing comments to all previous versions of the Bill. This was done at the request of the EAAB. It is unfortunate and regrettable that none of the recommendations made by SAPOA, even though accepted by the EAAB on the basis that the principles proposed were sound and rational, have been taken into consideration in the current version of the Bill,” he said.

Gopal notes that the EAAB did not act in good faith over the years of engagement and simply created the impression that the industry's comments are valid and will be given recognition. 

The Bill remains in its current form, albeit for the addition of the Exemption in Section 4, Ombud Office in Chapter 4 and, Compliance and Enforcement in Section 27.

Last modified on Thursday, 20 April 2017 14:45

Most Popular

Signatura launches Cosmopolitan lifestyle on Bantry Bay/Sea Point cusp

Mar 28, 2017
Sea_PointCusp
Some of the most exclusive real estate in the country – Cape Town’s Atlantic Seaboard –…

Corobrik contributes to Inner City rejuvenation.

Mar 30, 2017
Heritage View development Brickfields Newtown Johannesburg
The quality, durability and overall affordability of Corobrik’s face brick range has seen…

Sea Point's Mojo Market launches this April 2017

Apr 05, 2017
Mojo Market
An entire block of a Sea Point retail space will be dedicated to a new, seven-day food…

Investing in student accommodation: pros and cons

Mar 31, 2017
Bill Rawson CEO
The recent protests at universities and colleges across SA have caused many to question…

South African Council of Shopping Centres students shine at graduation function

Apr 05, 2017
CSCM Ilse Pretorius and Professor Chris Cloete
It was an evening of glitz, glamour and achievement as the 2016 Certificate of Shopping…