The property market in the country also stands to gain from the newly signed Property Practitioners Act of 2019 which repeals the 43-year-old Estate Agency Affairs Act of 1976 (Act 112 of 1976), signed into law on the 2 October 2019 - This will greatly enhance security of title and the acquisition and disposal of fixed assets. The Bill that the President has assented responds to the dynamic needs of the real estate industry and is aimed at improving the functioning of the property market which includes regulating the buying, selling and renting of land and buildings. Among other innovations, the Act establishes a Property Practitioners Regulatory Authority and provides for the appointment of the Board of this regulatory authority. The Act also puts in place better monitoring mechanisms, including requiring inspectors to obtain warrants to enter premises.

THE ACT
To provide for the regulation of property practitioners; to provide for the
continuation of the Estate Agency Affairs Board as the Property Practitioners
Regulatory Authority; to provide for the appointment of the members of the Board
and matters incidental thereto; to provide for the appointment of the Chief
Executive Officer and other staff members of the Authority; to provide for
transformation of the property practitioners sector; to provide for the establishment
of the transformation fund and establishment of the research centre on
transformation; to provide for compliance with and enforcement of the provisions
of the Act; to provide for the continuation of the Estate Agents Fidelity Fund as the
Property Practitioners Fidelity Fund; to provide for consumer protection; to
provide for the repeal of the Estate Agency Affairs Act, 1976; and to provide for
matters connected therewith.
PREAMBLE
WHEREAS a healthy property market is a national asset that restores the dignity of all
South Africans through the basic constitutional right to ownership of immovable
property through security of tenure;
AND WHEREAS a property is an asset to enhance economic activity, growth and
development;
AND WHEREAS patterns of property ownership are historically imbalanced;
AND WHEREAS there are distortions within the property market, especially the
secondary property market;
ANDWHEREAS transformation of the property market is a necessary intervention that
will benefit the historically disadvantaged individuals;
AND WHEREAS consumers require assistance when conducting property transactions;
AND WHEREAS property practitioners can play an important role in providing such
assistance;
AND WHEREAS it is necessary to ensure that such assistance is rendered in a
professional way;
AND it is necessary to regulate circumstances when such assistance is not rendered in
a professional way,

PLEASE CONTACT AGENT FOR A PDF DOCUMENT OF PROPERTY PRACTITIONERS ACT