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Strategic Objectives

Strategic Objectives

STRATEGIC OVERVIEW

The Property Practitioners Regulatory Authority (PPRA) is a schedule 3A public entity of the National Department of Human Settlements which was established in February 2022, in terms of the Property Practitioners Act 22 of 2019 (the PPA). 

The Property Practitioners Regulatory Authority (PPRA) has the responsibility to regulate, maintain and promote the conduct of property practitioners.

The authority seeks to enable ease of conducting business in the property sector, while ensuring compliance with the PPA and applicable legislation and giving full effect to the transformation objectives of the PPA.

THE MANDATE OF THE PPRA

The mandate of the PPRA is

  1. Regulate the conduct of property practitioners in dealing with the consumers
  2. Regulate the conduct of property practitioners in so far as marketing, managing, financing, letting, renting, hiring, sale and purchase of property are concerned
  3. Regulate and ensure that there is compliance with the provisions of the Act
  4. Ensure that the consumers are protected from undesirable and sanctionable practices as set out in section 62 and section 63 of the Act
  5. Regulate any other conduct which falls within the ambit of the Act in as far as property practitioners and consumers in this market are concerned
  6. Provide for the education, training and development of property practitioners and candidate property practitioners
  7. Educate and inform consumers about their rights as set out in section 69 and
  8. Implement measures to ensure that the property sector is transformed as set out in Chapter 4.

ADDITIONAL TO PRIMARY MANDATE OF THE PPRA

The PPRA is aligned to National Government’s National Development Plan 2030. The PPRA’s 2022-25 strategic plan aligns in particular with the Medium-Term Strategic Framework priorities 1 and 5.

Through priority 5, the PPRA will thrive for a transformed property sector and to give effect to the transformation objectives the PPA.

In particular, the PPRA has been mandated to establish a Property Sector Transformation Fund to drive transformation initiatives, as well as to establish a Research Centre, that will among others, conduct research on barriers to transformation in the sector.

FINANCIAL INTELLIGENCE CENTRE

The PPRA is the Supervisory Body of the property practitioners’ profession pursuant to the Financial Intelligence Centre Act and is obliged to take all steps required to prevent; alternatively, identify and report on, anti-money laundering and terrorist financing activities in the property practitioner sector.

VISION

Our vision is that of a transformed, professional, and well-regulated property sector in a spatially integrated society.

MISSION

Protect - Through education, awareness building and information sharing, we strive to protect the interests and dignity of the property consuming public and their security of tenure.

Regulate - We regulate the property practitioner profession by establishing norms and standards, educating, licensing, enforcing regulations and standards for industry role-players and administrating of the Property Practitioners Fidelity Fund.

Transform - As the leaders of the sector, we drive the transformation of the property market to facilitate equitable economic growth through broad participation.

VALUES

The PPRA has adopted the following values as it strives to deliver on its mandate.

Agility

We pledge agility and responsiveness to emerging issues within the property sector, as well as adherence to serving our stakeholders within agreed timelines

Professionalism and Simplicity

We commit to, always, acting professionally, delivering on our mandate, and exceeding the expectations of our shareholder and all the stakeholders we serve.

Innovation

We embrace the spirit of innovation, and pledge to continually align ourselves to be at the forefront of innovation, for the benefit of our stakeholders and the society we serve

Transparency

 We declare for all to know that, as a matter of principle, our interactions with our shareholder and all stakeholders, will be conducted in an open fashion and that we will be accountable for our actions.

Trust

We aim to establish trust with our stakeholders by pledging adherence to the highest moral principles and professional standards.

LEGISLATIVE MANDATES

The Property Practitioners Regulatory Authority (PPRA) is a schedule 3A public entity of the National Department of Human Settlements which was established in February 2022, in terms of the Property Practitioners Act 22 of 2019 (the PPA). 

The Regulatory Authority replaces the Estate Agency Affairs Board, which had been formed in 1976 under the Estates Agency Affairs Act, which has been repealed by the PPA. The PPRA has the mandate to Regulate, Educate and Transform the activities of property practitioners in the public interest.

 



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