In Industry News

The Property Practitioners Bill was finally published on 31 March and is open for 30 days for public comment.   

When promulgated, it will replace the Estate Agency Affairs Act and bring about many changes to the industry. For example, a much wider group of practitioners is brought under the umbrella of the definition of ‘property practitioner’, requiring these practitioners also to comply with the provisions of the new Act. This includes mortgage originators, valuers (in certain instances) and property inspectors.

A short summary is provided here and the full text of the Bill can be accessed here.

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