{"id":28308,"date":"2022-02-03T14:44:41","date_gmt":"2022-02-03T12:44:41","guid":{"rendered":"https:\/\/stbb.co.za\/dev2\/?p=28308"},"modified":"2022-02-03T14:44:41","modified_gmt":"2022-02-03T12:44:41","slug":"property-practitioners-act-instalment-7","status":"publish","type":"post","link":"https:\/\/stbb.co.za\/dev2\/property-practitioners-act-instalment-7\/","title":{"rendered":"Property Practitioners Act | Instalment 7"},"content":{"rendered":"<p><strong>Re-looking your professional relationships<\/strong><\/p>\n<p>In case you missed our previous instalments.<br \/>\n<a href=\"https:\/\/stbb.co.za\/dev2\/property-practitioners-act-instalment-1\/\" target=\"_blank\" rel=\"noopener\">Instalment #1<\/a><br \/>\n<a href=\"https:\/\/stbb.co.za\/dev2\/property-practitioners-act-instalment-2\/\" target=\"_blank\" rel=\"noopener\">Instalment #2<\/a><br \/>\n<a href=\"https:\/\/stbb.co.za\/dev2\/property-practitioners-act-instalment-3\/\" target=\"_blank\" rel=\"noopener\">Instalment #3<\/a><br \/>\n<a href=\"https:\/\/stbb.co.za\/dev2\/property-practitioners-act-instalment-4\/\" target=\"_blank\" rel=\"noopener\">Instalment #4<\/a><br \/>\n<a href=\"https:\/\/stbb.co.za\/dev2\/property-practitioners-act-instalment-5\/\" target=\"_blank\" rel=\"noopener\">Instalment #5<\/a><br \/>\n<a href=\"https:\/\/stbb.co.za\/dev2\/property-practitioners-act-instalment-6\/\">Instalment #6<\/a><\/p>\n<p>This is #7 in our short series of instalments on all the new things to bear in mind with the coming into operation of the Property Practitioners Act on 1 February 2022.<\/p>\n<p>In this instalment we highlight the provisions that place limitations on certain relationships that estate agents may form in their daily operations.<\/p>\n<ol>\n<li><strong>Relationship with the <span style=\"color: #e66a21;\">HOA, body corporate or management body<\/span> of a residential property development<\/strong>\n<ul>\n<li>Regulation 35, in very broad terms, prohibits the management body (be it a person in control of management, or the HOA or body corporate) of a residential development to receive money or a reward in return for granting some advantage in respect of the marketing of properties in such property development.<\/li>\n<li>It also prohibits the placing of a limitation on the sale of property in such property development: An arrangement whereby a property may only be sold through the managing body or a specific agency designated by the managing body, is outlawed.<\/li>\n<li>Similarly, a provision that an owner may only sell his or her property to a designated purchaser, will attract scrutiny.<\/li>\n<li>Lastly, any arrangement that provides an advantage to some estate agent(s) (or other property practitioner) over others in providing services in the development; or, where it excludes other estate agents (or property practitioners) from rendering services in the development, is prohibited as \u201cundue business practices\u201d.<\/li>\n<\/ul>\n<p><strong>\u201cOne must bear the regulations\u2019 exact wording in mind when considering the prohibition, and you are invited to discuss this with a STBB conveyancer.\u201d<\/strong><\/li>\n<li><strong>Prohibition on conduct to influence issuing of Compliance Certificates<\/strong><br \/>\nAn estate agent (or other property practitioner) may not offer or receive any incentive (or exert influence) in respect of the issuing of Compliance Certificates.<\/li>\n<li><strong>Limitation on relationships with other industry service providers (for example <span style=\"color: #e66a21;\">mortgage originators, bridging finance suppliers<\/span>, and the like)<\/strong><br \/>\nEstate agents (and others property practitioners) may not be part of an arrangement (whether formally or not) whereby the consumer (such as a buyer or seller) is obliged or encouraged to use a particular service provider only, to the exclusion of others. This includes the conveyancing attorney, mortgage originator, service providers for compliance certificates, and the like.<\/li>\n<\/ol>\n<p>For questions and assistance, contact us on <a href=\"mailto:info@stbb.co.za?subject=STBB%20Property%20Practitioners%20Act%20|%20Instalment%207\" target=\"_blank\" rel=\"noopener\">info@stbb.co.za<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Re-looking your professional relationships In case you missed our previous instalments. Instalment #1 Instalment #2 Instalment #3 Instalment #4 Instalment #5 Instalment #6 This is #7 in our short series of instalments on all the new things to bear in<\/p>\n","protected":false},"author":36,"featured_media":28204,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_exactmetrics_skip_tracking":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1,137],"tags":[],"class_list":["post-28308","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorised","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Property Practitioners Act | Instalment 7 - STBB<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/stbb.co.za\/dev2\/property-practitioners-act-instalment-7\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Maryna Botha\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/stbb.co.za\\\/dev2\\\/property-practitioners-act-instalment-7\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/stbb.co.za\\\/dev2\\\/property-practitioners-act-instalment-7\\\/\"},\"author\":{\"name\":\"Maryna Botha\",\"@id\":\"https:\\\/\\\/stbb.co.za\\\/dev2\\\/#\\\/schema\\\/person\\\/623606b2022560795816523a4fd0bfec\"},\"headline\":\"Property Practitioners Act | Instalment 7\",\"datePublished\":\"2022-02-03T12:44:41+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/stbb.co.za\\\/dev2\\\/property-practitioners-act-instalment-7\\\/\"},\"wordCount\":387,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/stbb.co.za\\\/dev2\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/stbb.co.za\\\/dev2\\\/property-practitioners-act-instalment-7\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/stbb.co.za\\\/dev2\\\/wp-content\\\/uploads\\\/2022\\\/01\\\/Header_Property-Practitioners-Act-Insalment-1_a.png\",\"articleSection\":[\"Blog\",\"Latest\"],\"inLanguage\":\"en-ZA\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/stbb.co.za\\\/dev2\\\/property-practitioners-act-instalment-7\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/stbb.co.za\\\/dev2\\\/property-practitioners-act-instalment-7\\\/\",\"url\":\"https:\\\/\\\/stbb.co.za\\\/dev2\\\/property-practitioners-act-instalment-7\\\/\",\"name\":\"Property Practitioners Act | Instalment 7 - 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