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Once the new legislature comes into force, landlords have 6 months to ensure they comply with all the requirements of the amended Rental Housing Act.
The Consumer Protection Act (CPA) became effective on the 1st of April 2011 and made provisions for the requirements that should be met in an estate agent mandate agreement.
Overall, the CPA serves to promote fair, transparent and ethical business practice so as to protect the consumer from unlawful conduct.
Estate agents’ responsibilities are made clear in the Institute of Estate Agents South Africa Code of Ethics and Conduct and is supported by the Consumer Protection Act.
Estate agent commission depends largely on the recording, clearly in writing and without leaving room for doubt, the exact circumstances in which the seller must pay the real estate agent his or her commission.
A sole mandate is a contract between an estate agent and seller where the seller agrees to appoint the specific estate agent to sell his property.
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