 We hadden een aantal vragen gegeven, heel veel, en het is my plezier om het toe te prooien. Het is ongelooflijk dat de atharaatie nie oorspron die van de 1e februari moest uitnodig, zodat het die mevrouw die best is, want de vragen is eerlijke en die uitnodiging van die ongelooflijkheid die op die moment is. Ik geef jou m'n interpretatie based op het beste atharaat dat ik kan, en op die samelheid wil ik jou nie actieel nie doen. het is best in al die instanties waarin het mogelijk is om de praktische noten in de guidelines van de autoriteit te bekijken, zodat die steem-lein processies later, dat je nie uiteindelijk te gaan doen, twaie, etc. Laten we het doen, we hadden entrust-accounts sinds 1977, en nog een paar maanden nie heen, dus om nu met een applicatie te rushen, om het entrust-account nie te hebben, is het niet het beste kaas van de actie van die. hier toe de vragen. Our sole trade is not liable for registration. Of course they are any business whether it's a company at Lowes Corporation, a trust or a sole trader want to trade in this it's a property practitioner they have to register. It's maybe important to the view of other questions as well to keep in mind the basic understanding of the definitions. I'll just read you the very first clause property practitioner means any natural or juristic person who or which for the acquisition of gain on his or its own account or in partnership in any manner holds himself herself or itself up as a person who or which directly or indirectly on the instructions or on behalf of any other person and then follows all the actions setting that in managing all that. So keep that in mind it's on behalf of another person it's for amuneration, for example. Let's take the next one. Do caretakers need FFCs, where they own open doors and allow tenants into property? No, but if they were to act in any of the instances that I've mentioned like offering a rental agreement or something then of course they do. Do you need to have an FFC if you manage holiday homes and what about big companies like Lakerslop and Airbnb earn commission on buckets? First of all of course holiday people managing holiday homes must register that's very clear. When it gets to those companies it very much depends on the exact operation. I tend to think that they'll have to register because if they would if they are collecting the money on behalf of clients and so forth then I think it meets the definition but it once again depends on the facts. Is a private property investment company required to register and is it staff required to have an FFC? The company itself is such no if it just manages its own property and it has its own staff to manage to do it to let its own property no. Do property managers non-financial but attending AGMs and issuing levy statements need FFCs again if they only attend AGMs and take minutes I guess not but if they fulfill any management function again test the definition then they do. Are managing agents seen as property practitioners and do they need FFCs for the managing of property of a private company portfolio? Yes if you manage a portfolio on behalf of another company or for another company then you meet the definition and should register. Does an FFC allow an agent to work for more than one agency? No it does not you register like before with one firm but the principles of those firms could register as for example directors of various estate agencies or business property practitioners as they are now called. The current Fidelity Fund certificate has the company name specified. If an agent changes companies how can that FFC be valid? Now this is good news here I think for you and that is that the Fidelity Fund certificates in future will look very different from what we used to. It will only stipulate your detail a Fidelity Fund number and the period for which it's valid. It will not mention the company nor your status as principal qualified agent or inter and that means that since it will be registered issued for a three-year period that you don't have to make any changes in that three-year you are just a registered property practitioner hence it will be valid to answer that question. When will the backlog with FFCs for 2022 be sorted? How will the EAAB be able to implement this if they cannot issue FFCs on time? Of course it's now called the authority name change and I'm afraid it is just the name change it's the same building the same staff the same defund IT system so I'm afraid this problem will be with us for some time to come. What is the process for people that have applied for the FFCs before the first of February? Well just like anyone who applied last year it's a one-year certificate it's still in the name of the EAAB and it's valid till December and it must be renewed by 31 October at which time you'll be issued with a three-year certificate from the PPRA. When you have not yet received your FFC can you prove to attorneys that you have registered and use your previous FFC to prove that you are just waiting for your current FFC. Now I'm afraid this is actually really a problem to the industry because the conveyances are now instructed by law to only pay if you have an FFC a valid FFC so some system will have to be put in place if you don't have one yet. For example the arrangement that the authority must now issue a certificate both in 30 days and 20 days extension and so forth after which you are deemed to have one presents the same problem because I do not know how you prove a deemed certificate. What I've heard is that some attorneys are working on getting agents to sign a declaration that they have every reason to expect they should be issued to see that they've taken all the steps and to pay on that basis. I hope that would work. Is the 30-day period and 20-day additional period for FFCs approvals applicable to registrations before the 1st of February? No it is not. What happens with new agents who need FFCs now? Do they need to wait until April before applying? I'm afraid so. The authority has decided without any basis in law to not issue certificates in terms of the new act before the 1st of April. It's not correct but that's how it is so you're left to wait until the 1st of April to get practical response and we hope that they will adhere to that date that that is possible given the challenges in the IT system. If an agent is in position of a valid FFC will a current FFC then be issued in terms of the new act, when will the changes to the FFCs be implemented? No, there will be no new certificate issue. Everyone in position of a valid FFC for 2022, it remains like that till December that you reapply before mid of October at which time a new certificate will be issued. Practically new applications then from the 1st of April and renewals from the 1st of July. If candidates register today what is the cost of the certificate? It is 380 rand for that 1st year and of course a 400 rand contribution to the faculty fund. Am I regarded as a property practitioner if I manage my own commercial buildings not using nature? As I understand it if you have managed your own buildings it's not on the off of another person it's not for immigration you don't have to register you're not using energy. If I am a property investor my properties are in the trust of company and I'm drawing a salary from that company do I need to register. I believe not because you're not doing it on behalf of the company you are merely employed by the company and the company is doing its own letting and so on and so forth and you're collecting rentals so I would believe not. A member of the authority said on a public forum last week that a private landlord who rented a property a privately and therefore received a gain would be required to register as a property practitioner and require an NFFC please clarify same as the above if it's a company through its own staff letting its own property I believe you don't have to register. Where do developers fit into the PPA structure? I work for a developer selling his property do I need to register and why would developers need an NFFC? Are they not in effect selling their own property? Yes in future developers selling their property will have to register as property practitioners it's just clearly clear in terms of the act on the regulations so if you work for that developer then you will also have to register if that developer however registers his own business property practitioner then only the people employed in that business will have to register and not the entire development company of course the best option for industry is if that developer decides I do not want to register as a property practitioner nor do I want to start a business property practitioner I'll rather employ a business practitioner to appoint a state agent a business property practitioner to sell my properties and yes they are selling the property but I think the thinking behind this was that they are interacting just like other property practitioners with the public half of that transaction that evolves around the buyer the purchaser and they must be able to give the same good advice than any state agent would have to give on the normal circumstances. Hoe does the PP Act effect the property auction industry? Well auctioneers have to register so all the same ones apply. As a permanent resident I'm concerned that the act states that it would see will only be issued to South African citizens now that's in this understanding somebody who's not a South African citizen but resides here legally can obtain it. With a full status agent to purchase an agency franchise and thus operate the company automatically become a principal who can employ agents no obtaining a going concern does not make the principal the normal supply. Hoe do private owners sell in their own capacity without a DVC? Again my mention of the definition they're not doing it on behalf of somebody else for a new immigration so they don't meet the definition and do not have to register. If a private person has one or numerous flats in the houses rented out must he also have a trust account and be registered as he also holds deposits. No for the same reason he does not meet the definition and does not have to register. Sometimes owners sell privately should the owner have to be registered in order to have the property actually transferred on to the new owner. No having an FFC has got nothing to do with the transfer process whatsoever. And private seriously you don't have to register as proper practitioners. Our auctioneers who call themselves property practitioners but don't hold FFCs allowed to en commission. No they'll have to register auctioneers now meet the definition. Candidate property practitioners start in 1 february 2022 do not know where and how to start their training although they are 10 days down the 6 month period without the training program from the industry. Of course it's now 30 days down the period but as mentioned before the authority has decided to only register be bought in terms of the new act from 1 february in fact no FFCs since 1 february has been issued only restart on 1 february and hence nobody 6 month or under the may be under the may be they start as you. What are the penalties for intern agents who take over 12 months to complete the log book. There are no financial penalties that I'm aware of but the new act states that interns have to qualify within 6 months and they only have the right to approach the authority for an extension of 180 days should in the first 180 days they have attempted to write the exam and failed if they never even tried writing the exam and they can't ask for an extension. Does the authority require us to do NQF 45 if you have done the NQF full certification but haven't submitted your log book as yet can you still write your PDE anyway. Our clear understanding in law is that NQF 4 and NQF 5 is no longer required but as stated before I would hold my horses and wait for the practice guidelines so that I take the right steps and don't act over history again if you wait another few weeks or months what does it really change. Two potential candidates with postgraduate degrees still require the NQF qualification they do not necessarily understand the real estate industry as stated they don't need NQF weekends but they will need PDE 4. Does the one-year training for candidates full away under the PP Act and Canada candidate become fully qualified in six months yes that is our understanding. Do you lose your qualification after five years of not being in the industry yes when you re-enter after five years you have to write the PDE for exam or a lesser exam as the authority might determine in good time. Would a person was previously for seven years as an estate agent and wrote the CIEE exam from the 1980s need to start all over again even having a BA degree yes the answer is the same you've been out of the industry for five years new PDE 4 must be taken. Is the practice note still applicable with agents needing to get their qualifications and PDE 4 in place by in June 2022 those are all the current interns 23,400 of them or most of them because as I remember that practice note that says everyone who succeeded the two-year maximum period in terms of the old act must qualify by 30 June and here's the practice note that's still in place. Now should NQF or still have applied that of course would have been a laughable impossibility but with only PDE 4 having to be written in our understanding that is actually doable provided the authority can make that exam happen for everyone and maybe even more than one exam before the 30th of June which of course presents its own challenges. Access to CPD how will that work we are battling to gain access and get response as I explained before this is a leopard changing spots it's the same old board that's now authorities the same IT systems it's the same challenges so you contact the same people at the same number and try and make it happen. I paid 2000 rand for my three-year CPD cycle beginning in 2021 will this be payable again before in February 2022. Yes it will be every year but of course for the next year it will be the lesser amount of 1500 rand we believe it might even be the case for this year but that's still a mood point under discussion. Amnesty was mentioned where can I apply for FFCs on the website when you say amnesty was mentioned I'd like to read one more clause and that's actually regulation 41.41 in the sheet of fire the transition arrangements it reads an applicant shall not be precluded from registering as a property practitioner or obtaining a fidelity fund certificate under the act in consequence of such person having been in any way non-compliant with any of the provisions of the previous act that constitutes an amnesty so you don't need to apply for an amnesty you just apply for a certificate after the first of April and start with a clean slate on the website if you only worked at admin and did not cancel you if FFC will amnesty be offered the clause I've just read applied to everyone not just whatever you've done and under what circumstances and so forth if you add an FFC you want to register again in terms of the new act the regulation should apply my company never deregistered me and to reinstate my FFC I need to pay about 8 000 land and penalties when will this be scrapped and while I be able to renew my FFC exactly the same answer as before in terms of regulation 41.41 you can apply after the first of April how long does feedback for penalty exemptions take to obtain as a previously disadvantaged individual same regulation applies even if you did wait and we know they were some issues with the PDI resolution and the application they are often feedback and so forth but I think that comes to a stop or should come to a stop if you apply after the first of April we will be enforcing this act across the board in respect of all agencies you employ unlicensed agents runners or interns our sign is going to be monitored and if and unnecessarily fine as this is a huge concern well the board the the authority mentioned to us that they will employ many more inspectors to assist with the policing of all the regulations so we'll have to wait and see but that's the expectation and that really needs to be done what measures are in place to enforce the act specifically in the coastal areas where there is a large industry relating to holiday rentals the majority of proprietors are not agents and have no FFC certificates the owners will be on authority with additional staff to actually take action and of course you as a property practitioner will be able to report people like that to the authority like before whose responsibility is it to deregister an agent from the authority when they leave it's your responsibility as a property practitioner to do so on the portal of the EAB as a property auction does the mandatory disclosure document apply to property going under the hammer as they have traditionally been sold foods to us yes auction years will be property practitioners and therefore the disclosure document applies and please note however the food stores clause is as legal and as effective as it always has been whatever is in this act does not change that at all apparently the mandatory declaration is applicable to rentals and sales in the residential industry to protect consumers but how does it apply to industrial sales and leasing where mandates are in the form of emails like growth points vacancy schedule now i think it will be a rational approach for the authority to allow such documentation provided all the necessary information that's prescribed in the regulation is contained in that schedule i can't imagine that the exact format and i would set out should make a difference what is the procedure the annual audited figures we submit to the board by 30 june you of course mean within four months after the end of the financial year of the particular business that stays in place for all the companies that audits done financial years before the first of february but going forward that becomes a six month period instead of a four month period which gives you more time to get the order done if a company has a turnover below two and a half million will full order the report still be needed no not so a review a review process by a registered account that will suffice when can we close trust accounts that has never been used as far as we are concerned with immediate effect but since the authority has put a halt on everything under the first of april we'll be best advised to wait till then and follow the procedure set out in the act if is it only real estate companies that must be b e compliant or every individual agents agent no agents natural persons are excluded from having to do so it's only the businesses the estate agencies what is the b e level required no level was specified in the act order regulations if your turnover is over to an half million how do you obtain a b e certificate is there a standard template for the wording of the affidavit for the b e exemption no is it well you can find one on the bozo website but all you are really doing is to state under oath that the turnover of your business is below two and a half million for the financial year stated in the affidavit please clarify if any property practitioner business can apply for an exemption from having a trust account not only a business that has an annual turnover of less than two and a half million yes there is no limit on people who can apply and should you apply please just follow the procedures and regulation that's pretty straightforward and like i suggest please wait a couple of weeks then you can apply and should you no longer have a trust account the real advantage is that your business account then does not have to be ordered at any more but a review process by a registered account that suffices will the transformation fund assist us to pay individuals being a commission earning industries difficult to survive without payment to your first commission now the transformation fund still has to be formed incidentally that's the only thing in the act that is has not taken effect on the first of february and in that specific six month period was allowed now once that is put in place they left to put together their own rules and guidelines en plans and so forth so i can't preempt that and i unfortunately cannot answer that question we'll have to wait please address the matter of a state's charging huge accreditation fees i have to pay a 20 000 rand for one agent and one estate to work in in that estate have a small business and cannot afford this fortunately that has now been outlawed for practical purposes of course the authority can't exercise any control over homeowners associations but it's clear in the regulations that no estate agent the property practitioner is allowed to participate participate in any such scheme it'll be in breach of the regulation and you will then be prosecuted so that should put an end to the preferred agency issue with homeowners associations what about privy seal this was terminated by the eaab will this be reinstated i have no idea but i also have absolutely no reason to think that they're going to do so i need to register in the state agency do i still contact and do this through the eaab yes of course it's now the ppr a but same procedures as before the industry was given only two weeks to comply with the final version of the regulations is there a period of time for the industry to make these changes to the marketing material cards boards et cetera as well as the many digital assets that property practitioners use now technically the authority can't suspend the act it could be not the first of ever but they can make an announcement and i hope and trust that they will that they will not take any action in this regard after you know with immediate effect giving it an industry some time to get this done it would just be totally unreasonable not to apart from which the authority certainly does not have the staff compliment at the moment to try and enforce such an arrangement on the industry with the immediate effect but i am pretty sure a practical note will be forthcoming in this regard soon i've received an email from the eab stating that i have outstanding debt which i'm unaware of now please look at the practice notes and you can find that on the reposa.coza as well there was a practice note stating that there's some fraud some they just went out fraudingly from somewhere else and are they warning agents not to respond please consult that go practice note before you do anything because it seems to be illegal can an agent ask an unregistered person to take photos on their behalf absolutely yes have education levels north of nqfr been considered at any level or would it be considered at some point for example honours degrees and so forth now i don't know of anyone considered that but nor was it really an issue because that would be an optional thing to do it certainly will not be a prerequisite of becoming an estate agent to confirm from one february all candidates have six months to comply do all the non-compliances in the old body fall away yes regulation 41 41 that i read start fresh nothing that was a mis in the old act in the old against you of course with exceptions i should have added basic exceptions that provided you are being prosecuted criminally that there's no discipline in the action and process and that your ffc is not being withdrawn before for some misdemean and so barring those qualifications you're okay and don't have to worry about that thank you i hope that made some sense