Pricing Changes with the PPRA (formerly EAAB)

Hello, Property Practitioners!

With the new Property Practitioners Act that came into effect on 1 February 2022, there has been much anticipation on what the new rules are for Property Practitioners, particularly the Prices.

Though there has not been much revealed with the Regulations Gazetted on 14 January 2022, the following prices was mentioned clearly and have since been confirmed by the Property Practitioners Regulatory Authority:

1. New Registrations for Candidate Property Practitioners (formerly known as Intern Estate Agents) will now cost a hefty R1940.00 - it Should be noted that your Fidelity Fund Certificate will then be valid for 3 Years and you would only need to renew it after the 3 years have lapsed. This means that Property Practitioners will not need to renew their FFC's annually as it was previously.

2. Employment Changes of Property Practitioners will now be R2340.00. Once again, it should be noted that the Fidelity Fund Certificate will also be issued for a 3 Year Period. This is a major change, as the employment changes cost R374 under the old Act.

3. Renewals of Fidelity Fund Certificates will also cost R2340, and will also only need to be renewed every 3 Years. It should be noted that Candidate Property Practitioners will have to pay this amount as well when renewal time comes, regardless if they have achieved their Full Status or not.

4. The Penalty for Late payment of renewals will reduce to R125 per month. The previous cost was R240 per month for Interns and Full Status Agents.

The new templates and documents have in part been contemplated in the Regulations gazetted, but have not yet been sent out as such by the PPRA.

We at Agent Aid have taken the liberty of drafting our own usable templates based on the Regulations and previous documents published by the EAAB. Copies can be obtained by contacting our offices on email at info@agentaid.co.za

We will be posting more updates as new Regulations get Gazetted, so feel free to subscribe to our Blog here.

With Love,