The Property Practitioner’s Regulatory Authority (the PPRA, as it is more commonly known) issued a notice on 2 May 2024, informing Property Practitioners of the significant changes to the qualification framework for Property Practitioners.
Once a key requirement for transitioning from a Candidate Property Practitioner to a full-status Property Practitioner, the submission of an intern logbook and portfolio of evidence has now been phased out and removed as a requirement by the abovementioned amendment, effective 1 July 2024.
The Property Practitioners Regulations, 2002, states the following:
No person shall be entitled to practice as a property practitioner unless such person has first completed a practical training course in respect of non-principal property practitioners; and
The practical training course will constitute a maximum of six modules to be completed over a maximum period of six months;
To give effect to the abovementioned Regulation, the below-mentioned amendments have been made to redevelop the educational standards and requirements.
Effective from 1 July 2024, logbooks will be removed as a requirement for Candidate Property Practitioners. Instead, any non-principal property practitioners/candidate property practitioners will be required to enroll for and complete the new Occupational Certificate: Real Estate Agent SAQA QUAL ID 118714 (“new Occupational qualification”) via an accredited Skills Development Provider (“SDP”).
Therefore, Candidate Property Practitioners who are to be issued new Fidelity Fund Certificates from 1 July 2024 no longer need to comply with the old logbook requirement.
The PPRA has issued comprehensive guidelines outlining the requirements for the newly introduced practical training, which can be found here.
Principals and mentors will be required to submit a letter confirming that the Candidate Property Practitioner has completed their internship/or the practical training course, whichever is applicable. A standard letter to be used for this purpose has been made available by the PPRA and can be found here.
Since the transition from the EAAB to the PPRA, there have been considerable changes in the regulatory landscape of the property industry. To stay updated on these changes, check out lmw.co.za.