Property market to benefit from relaunch

The property market in the Mangaung Metro is set to benefit from the re-launch of a national multifaceted real estate body known as the Property Practice Institute (PPI). It was launched in July in Bloemfontein.

Dimpho Motshabi, marketing ma­nager of PPI, explained that the chief objective of founding the PPI was to work in partnership with stakeholders.

These are the Mangaung Metro Municipality and the Estate Agency Affairs Board (EAAB), a regulatory body established in 1976 in terms of the Estate Agency Affairs Act 112 of 1976, to regulate and control certain activities of estate agents in the public interest.

The PPI represents small, micro and medium enterprises through a collective effort and vision.

“The main objective to rebrand is the fact that the National Property Forum (NPF) excluded agents whilst the PPI is inclusive, accommodates agents and real estate agents under a single roof in the property sector,” said Motshabi.

She said the core of the PPI is to recruit agents, empower young people aspiring to get into the sector, educate, give accreditation and ensure compliance with regulations of the property market in line with the EAAB.

Motshabi said strides have been made to empower new agents with approximately 36 accredited, opera­ting within the Mangaung Metro.

Walter Makibi, PPI communications manager, alluded to the fact that NPF, as a non-profit body, mainly focused on principals in the sector, registration and accreditation.

“The PPI is here to broaden the scope, recruiting people interested to venture into property.

“We provide the know-how of the sector and mentorship, as well as acting as mediator in cases of transgression,” said Makibi.

He said PPI also monitors adverti­sing to curb fraudulent dealing, harming the property sector.