Are you working with a registered and qualified Property Practitioner?

Are you working with a registered and qualified Property Practitioner?

Category Branch Page Article

Seeff opened its doors in 1964 and has since grown to over 200 branches and over 1200 agents throughout South Africa, Namibia, Botswana, Zimbabwe, Zambia, Eswatini, Mauritius and Dubai. Seeff has become a household brand name in South Africa and as such the bar for service excellence is very high. One of the ways in which our agents ensure absolute professionalism and expertise is by complying with the legislated Training and Educational requirements, as well as all additional accreditation requirements. These include, but are not limited to: registration with the Property Practitioners Regulatory Authority [PPRA], an in-depth internship period, completion of the NQF Level 4 Real Estate Certificate (regulated by SAQA), passing the PPRA Professional Designation Exam and Continues Professional Development courses. Agents who have not yet complied with the training requirements may operate as Candidate Property Practitioners however they must hold a valid FFC and they must operate under the active supervision of a Principal Property Practitioner or a Full Status Property practitioner who has held a valid FFC for three consecutive years.

Regrettably there are many companies and agents in the industry who have not complied with one or more of the prescribed Training & Educational requirements. Furthermore, there are people who portray themselves as estate agents in an attempt to defraud a client of their money. At Seeff we firmly believe in creating public awareness around this issue and we strive to educate the public in an attempt to combat fraud, theft and to protect the public image of our industry. Below are some basic steps which we encourage all clients to take when dealing with a person who holds themselves out to be an Estate Agent.

Ask to see their Fidelity Fund Certificate

No estate agent may render any real estate services unless they hold a valid Fidelity Fund Certificate aka FFC. The FFC is issued to a property practitioner by the PPRA as proof that the agent is a member of the PPRA. Any person may request to see an agent's FFC at any time and the agent must comply with the request. On the certificate you will see that it has been issued by the PPRA, the period of validity, the full names of the agent and the name of the Estate Agency to which they are registered.

Why is an FFC Important?

All property practitioners are bound by their professional Code of Conduct. The Code of Conduct governs the actions of all Property Practitioners and most importantly outlines "undesirable conduct" which agents may not engage in. If an agent is found guilty of an offence or contravention of the Code of Conduct then may be liable for a fine, sanction or withdrawal of their FFC. If your agent is not registered then they are not bound by the Code Conduct, which means that you can take no action against an Agent that conducts unscrupulous behaviour.

The second, and most important reason to have an FFC is to have the protection of the Fidelity Fund. If you are involved in a transaction with an estate agent, you may be required to deposit money into their Trust Account. In some cases, the agency may be holding the full purchase price of a property. The Fidelity Fund will reimburse a client for misappropriation of funds by a property practitioner or theft of the money by the agent. If the agent is not registered with the PRRA, or has an invalid FFC then the Fidelity Fund will not process the claim.

Author: 7345