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The Property Practitioners Act Is Passed

The Property Practitioners Act was finally passed (after about 4 years in the making) and will come into effect from 1 February.

There is a lot to be happy about for all in the estate agency industry.

All estate agents will be required to present their own current FFC (Fidelity Fund Certificate) and the business/company they are employed at.

These must be submitted to the conveyancing attorney at the time of Deed of Sale. No transaction may register, and commission paid out unless the agent and agency have current FFC’s.

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The actual documentation around the Property Practitioners Act is quite long and obfuscated, so Marsha from Harcourts (Jeffreys Bay and St Francis Bay) found all the essential elements.

Read more here

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