The Property Practitioners Regulatory Authority (PPRA) has clarified its stance on its BEE requirements for the next round of FFCs.
The Property Practitioners Regulatory Authority says despite precedents set in the past, level 8 BEE compliance is now non-negotiable for all real estate agencies with a turnover of more than R2.5 million.
According to Le Roux, the only requirement is a valid BEE certificate issued by a SANAS-registered verification entity, and no minimum score is currently necessary. Le Roux said this is a major concern, especially for small businesses, sole proprietorships, “one-man bands or mom-and-pop shops,” as he calls them because it amounts to more than 50% black ownership.
it is imperative to underscore that compliance with regulations such as those set forth by the Property Practitioners Regulatory Authority is non-negotiable.
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