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The Namibian Estate Agent's Board and the Association (Institute) of Estate Agents in Namibia

Many people confuse the two organisations which causes frustration all round.  There is indeed a world of difference between the Association of Estate Agents in Namibia (the Association) and the Namibian Estate Agency Affairs Board (the Board).

The Board


The Board is the official regulating authority for the estate agency profession, and every estate agent must, by law, be registered with it. The Board is a statutory body which generally means a board, council or body of persons established by or under an Act of Parliament - the Legislative Assembly. The Board falls under the jurisdiction of the Ministry of Trade and Industry.

The primary function of the Board is to protect the public interest (consumers) in their dealings with agents while maintaining and promoting the integrity of estate agents in the following ways:


•     Overseeing the compulsory qualification and admittance of estate agents as well as the issuance of Fidelity Funds Certificates to qualified agents;
•     Administering the Estate Agents’ Fidelity Fund, from which consumers who have suffered loss as a result of theft of trust monies by estate agents are reimbursed;
•     Preventing unsuitable persons from entering the industry and denying the right to practice as an estate agent to those persons who had been disqualified in terms of the Act.

It could be said that the Board maintains and promotes the activities and standard of conduct of estate agents in general.

In order to obtain registration with the Board, the estate agent will have met the requirements of the Act which include passing or exemption of the Board’s examination. In return The Board will issue a Fidelity Fund Certificate to a qualified estate agent. It would be illegal for the agent to act without being registered and without holding an active fidelity Fund Certificate. As these certificates expire at the end of each year, you need to ensure that the registration and certificate of the estate agent of your choice are both current.

Every registered agent must further comply with the provisions of a special Code of Conduct framed in terms of the Act and should you - as a buyer or seller of a property - feel unhappy about the improper conduct of a particular estate agent, a written complaint should be lodged with the Board for investigation and possible disciplinary action.

Members of the public should indeed have a legitimate expectation that the agent will act according to the law and if not the Board will address the issue. However, the Board can only deal with issues regarding registered agents. It is understandable that the Board is constantly in the process of promoting the fact that the public should deal only with registered estate agents.

 

The Board’s office is in Windhoek and can be contacted at:

 

Tel: +264 61 24-9885

Fax: +264 61 234709

E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it

 

 

 

The Association (formerly known as Institute of Estate Agents in Namibia)

 


The Association is a professional volunteer organisation which supports its members, and membership is voluntary.   The Association looks after the interests of its member estate agents and agencies, and is a prominent spokesman for the agent and profession.

The Association offer property related training and guidance which are specifically designed to provide agents with the knowledge and skills necessary to conduct their business in the most professional manner to ensure that member agents will provide a high standard of service to the public and amongst each other as professionals.

Members of the public who are dissatisfied with the conduct of an estate agent, or who want to claim compensation from the fidelity fund, should lay a complaint with the Board in the prescribed form (affidavit).  As a volunteer organisation, the Institute is the wrong port of call and cannot help even if the agent concerned is an Institute member.


In Conclusion:

Proper registration with both the Board and Association immediately establishes an estate agent’s credibility with both potential clients and fellow estate agents. It holds the promise that you will receive a professional service which adheres to a strict code of conduct, and it will encourage the belief that it is safe for you to do business with the estate agent concerned.