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31 March 2014 Last updated at 12:30 BST
It will be able to issue warning and banning orders against agents acting dishonestly or breaching estate agent laws.
The move follows a decision by the UK government to disband the OFT.
Powys won the competitive bidding process to deliver the service in place of the OFT and will receive Â£170,000 a year to carry out the work.
People complaining about estate agents will still contact their local authority trading standards department, who will prosecute offenders if necessary.
However they will refer cases to Powys if they believe parts of the Estate Agents Act have been breached.
James Munro from Powys council, who will lead the new team, has said he hopes it will show Powys could take on more contracts and outside work in future.
He spoke to Radio Wales' Good Morning Wales' Peter Johnson about what the new role will involve.
Powys council is to take over the role of regulating Britain's estate agents from the Office of Fair Trading (OFT) from 1 April.