Firstly, let’s cover what the PPRA and the Code of Conduct does to protect you when you sell or buy a property? The Property Practitioners Regulatory Authority or PPRA formerly known as the Estate Agents Affairs Board or EAAB protects you when you sell or buy a property. Not sure that all agents are Great Agents, but an agent without an FFC is not an agent you should be using to sell your home, because it is illegal and you have no protection or standards to support you. Not sure if you knew this but as a Property Practitioner you need to have a valid license to sell property. We call this a Fidelity Fund Certificate or FFC and the cost is certainly not free. The process has changed if you are a property practitioner in as much as in order to hold a valid FFC there is a cost attached to holding a valid license that allows you to operate as a Property Practitioner.
Secondly, if a Property Practitioner does not hold a valid FFC he or she is not eligible to earn commission from the sale of a property. The PPRA’s code of conduct keeps all the standards and regulations for the industry in place and actively manages them too. And property practitioners need to adhere to this Code of Conduct.
Thirdly, KW Select does not aim low to achieve the minimum standards set out by the PPRA. We aim high. And we expect the very best, every single time. Even though Keller Williams sells more properties across the world, than any other brand, we expect the very best from our team every single time.
Let’s Cover What the PPRA and the Code of Conduct Is?
The Property Practitioners Act provides protection to the consumer – always. In other words, Property Practitioners have a duty and an obligation to uphold and protect the interests of consumers. A core requirement as a Property Practitioner is to uphold and maintain the very highest standards of ethical conduct.
The code of conduct set out by the PPRA there attempts to assist Property Practitioners in achieving the goal to ensure that standards and interests are always upheld. Whilst the Code of Conduct is considered to be a reliable and instructive guide, the obligations that this Code represents are very much the very minimum standards that demonstrate the requirements of this professional conduct. This code of conducts as set out by the PPRA are therefore minimum expected standards of a property practitioner choosing to work in this profession.
Whilst Property Practitioners are encouraged to aspire to these high standards it goes without saying that integrity, honour and competence in this industry are expected within this profession. The Code of Conduct sets out these standards.
Why Is There A PPRA Code Of Conduct As An Industry?
- There is a way in which property transactions should be conducted.
- Licensed property practitioners play and important role in providing assistance with the sale of a property and also a role in assisting buyers to buy a property.
- In all instances, when the professional services of an estate agent are required, it does mean that these duties and assistance are always provided in a professional way.
- And the Code of Conduct regulates all circumstances when an estate agent’s services are not rendered in a professional way.
What is the role and purpose of the PPRA Code of Conduct
The Property Practitioners Act requires that every property practitioner or estate agent as we are commonly known is required upon request to provide a consumer with a copy of the code of conduct.
How Applicable is the PPRA Code of Conduct
It’s quite literally and emphatically the way we do business. The Code of Conduct regulates the what and the how of a property transaction. Any agent contravening this Code of Conduct will quite literally face charges and also the loss of their license to practice anything related to the property industry. If an agent loses their ability to practice this means they will no longer be able to work in the industry.
KW Select and the PPRA’s Code of Conduct
KW Select prides ourselves on having great agents. In fact, we take the minimum standards required by the PPRA and we go a step further. We make it our mission to go above what the industry requires as a minimum standard. Furthermore, Keller Williams, quite extensively, how to provide the ultimate customer experience. Our systems and technology support us 100%. We don’t just aim for the minimum, we aim for the very very best. And what makes Keller Williams a great brand to work with is that it is our technology and our culture that drives our success. Keller Williams is the largest real estate brand on the planet. We have the tools that were built by agents for Agents. No property can be listed without a mandate or your permission to market. No Offer to Purchase or OTP can be submitted without all the correct information and all the correct documents. The system in this case provides a fail-safe process that ultimately upholds the Code of Conduct and more. To download a copy of the PPRA’s Code of Conduct, click here.
Book your property valuation with an accredited Estate Agent
If you are wanting to partner with a great Agent to sell you property KW Select is your brand of first choice. We have great Agents that know the area extremely well. We have great Agents that know how to price a property for Sale. More importantly, it’s about partnering with a great Agent from KW Select to sell your property faster and for the best price possible. Click here to get a great Agent to help you get started with a free property valuation.
Need access to further content about partnering with a great Agent
- What are the very basics when you partner with a great Agent from KW Select to sell your property?
- More about partnering with a great Agent.
- Need to work with the biggest and the best real estate brand in the world. Look no further than KW Select.
- How will KW Select market your property for sale?
- Meet the team of great Agents at KW Select, and remember the team grows monthly.
- Need more info about what goes into preparing an accurate property valuation for your property?
Book your property valuation
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