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The Property Practitioners Regulatory Authority has issued a notice dated November 2022, to usher in the new Property Sector Research Centre.
At Face Value, this does not sound like relevant information to Property Practitioners, but we think this could be a great initiative!
The Aims of the research centre are as follows:
Increasing the national scientific research and innovation capability through the development of human capacity and stimulating the generation of new knowledge in the property sector;
Being the central repository of expert knowledge on pre-determined areas of the transformation of the property sector in South Africa; and
Supporting the realization of South Africa’s transformation into knowledge-based economy.
They further put emphasis on the fact that they want to focus on conducting research to determine what the barriers of entry of the industry is, and to educate consumers on their rights and responsibilities in relation to Property Transactions.
The PPRA will be posting their research on their website, and will be asking stakeholders to participate in future research projects. And this is where we get excited, because this is where us, the Industry, get to raise our voices on relevant issues, and where real change can be effected.
One of the biggest problems the old Estate Agency Affairs Act posed, was that Estate Agents were unable to a large extent, to raise their concerns around most issues, and have the EAAB head their call. This research centre will go a long way in rectifying that problem.
We recommend all Property Practitioners regularly visit the PPRA's website, to stay up to date on news and research, and participate as much as possible.
With Love,
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