The publication of the Property Practitioners Bill, 2016, was approved in the Government Gazette for public comment. The Bill repeals the current Estate Agency Affairs Act, 1976 (Act No. 112 of 1976).
“The Bill responds to the changing market conditions and dynamics, and strives to create an enabling environment to enhance economic activity within the real estate market,” the Minister said.
It also addresses the need to enhance compliance and enforcement, as well as to ensure transformation in the sector and to regulate the conduct and behaviour of property practitioners.