8 Things you might not have know about the South African Real Estate Industry
Category 3%.Com Properties
8 Things you might not have know about the South African Real Estate Industry
Did you know that:
- All Estate Agents are required to complete a formal qualification? (This includes a NQF4 Qualification, a 1 - year internship, as well as a formal examination.)
- The PPRA (Property Practitioners' Regulatory Authority) regulates all Estate Agents in South Africa www.theppra.org.za
- The new Property Practitioners Act ("PPA") that came into effect on 1 February 2022, now refer to all Estate Agents as 'Property Practitioners'. Property Practitioner is simply a new term for what was formerly know as an Estate Agent.
- Attorney Employees who sell property, are also deemed Property Practitioners in terms of the PPA.
- Attorney Employees, also qualify as full status Property Practitioners, and complete and undergo the exact same training and qualification requirements, as all other Property Practitioners.
- This means that Attorneys, appoint employees who then train and qualify as Property Practitioners, and sell property.
- Is enough being done to combat illegal Property Practitioners? The PPRA has announced that they are launching an aggressive campaign to tackle this issue.
- The average real estate agent commission in South Africa is between 5 and 8%. At 3%.Com Properties we only charge 3% sales commission upon the successful sale of your property.
Need to sell your property? Contact Us today and we can assist to sell your property safely and legally, at a mere 3% sales commission. In addition, we could also attend to the legal transfer of the property into the name of the new purchaser, should the seller appoint us. www.threepercent.com
Author: Monique Botha