8 Things you might not have know about the South African Real Estate Industry

8 Things you might not have know about the South African Real Estate Industry

Did you know that:

1. 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.)
2. The PPRA (Property Practitioners' Regulatory Authority) regulates all Estate Agents in South Africa www.theppra.org.za  
3. 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.
4. Attorney Employees who sell property, are also deemed Property Practitioners in terms of the PPA.
5. 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.
6. This means that Attorneys, appoint employees who then train and qualify as Property Practitioners, and sell property.
7. Is enough being done to combat illegal Property Practitioners? The PPRA has announced that they are launching an aggressive campaign to tackle this issue.
8. 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