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STBB Newsflash | Reminder: Changes to Property Practitioners’ Qualification Requirements

Recently, the Property Practitioners Regulatory Authority (‘the PPRA’) announced significant changes to the qualification regime for estate agents. In case you missed our previous communication regarding the PPRA’s decision to phase out logbooks, which was shared on our social media platforms on 16th May 2024, here’s an overview of the latest information.

On 2nd May 2024, the PPRA issued an important notice confirming the discontinuation of logbooks as a requirement to qualify as a property practitioner.

Effective 1st July 2024, logbooks will be replaced by six practical modules as part of the new QTCO NQF4 Real Estate qualification [SAQA 118714].

Consequently, candidate property practitioners scheduled to be issued with new Fidelity Fund Certificates from 1st July 2024, no longer need to comply with the logbook requirement.

Candidates who are currently completing their internship, and who would have been required to submit their logbooks after 30th June 2024, are also exempt from this requirement.

However, candidates who are nearing the completion of their 12-month mandatory internship and are still able to submit their logbooks by 30th June 2024, are encouraged to do so.

Regardless, as of 1st July 2024, candidates won’t need to submit a logbook, irrespective of their internship commencement date.

Instead, principals and mentors must provide a letter confirming that the candidate has completed their internship or practical training course, whichever is applicable. To that end, the PPRA indicates that it will provide a standard template for this purpose before 1st July 2024.

Additionally, per its original notice, the PPRA further advises that it will issue new guidelines outlining the eligibility criteria and other relevant requirements for practical training.

New candidates intending to register from 1st July 2024 must enrol with an accredited service provider to complete their qualifications.

As it stands, there is uncertainty as to whether the PPRA will amend the qualification requirements for principal property practitioners. For this reason, all agents who are currently interns – and those aspiring to qualify as principals – are encouraged to enrol for the requisite courses in June 2024.

Furthermore, the PPRA has not yet specified the requirements for the new NQF5 qualification, which is set to replace the existing NQF5 programme. However, the PPRA assures that it will continue to provide updates to all relevant stakeholders.

Please view the PPRA’s original notice here.

Should you require legal assistance, kindly contact us at info@stbb.co.za.

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