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The Namibia Estate Agents Board (NEAB) has had a dynamic and impactful second half of 2024! From key legislation updates to stakeholder engagements, training workshops, and international benchmarking, NEAB continues to transform Namibia’s property sector. Quarter 3 Highlights: NEAB participated in the Ongwediva Annual Trade Fair  and Zambezi Bream Festival , fostering stakeholder engagement and cultural connections. The Property Practitioners Act  was tabled in Parliament, signaling a new era for Namibia's real estate industry. Workshops, including NEAB’s 3rd Induction Training, provided new estate agents with essential skills and knowledge. Quarter 4 Highlights: The Property Practitioners Act, 2024 , was signed into law, establishing the Property Practitioners Regulatory Authority to oversee and regulate Namibia’s property sector. Legal training workshops in Ongwediva, Swakopmund, and Windhoek empowered agents and the public with practical insights into real estate law. NEAB benchmarked best practices from South Africa’s PPRA to ensure a smooth transition under the new regulatory framework. Download our Q3 and Q4 newsletters by clicking on the button below for more details. Stay connected and join us in shaping a fair, secure, and efficient property market in Namibia! #NEAB #RealEstate #PropertyPractitionersAct #NamibiaRealEstate #Professionalism #ConsumerProtection

NEAB Office Closure Notice for the Festive Season As the festive season approaches, the Namibia Estate Agents Board (NEAB) would like to inform all stakeholders, estate agents, and the public that our office will be closed from Thursday, 19 December 2024, to Wednesday, 08 January 2025 . We will reopen and resume normal operations on Thursday, 09 January 2025 . During this time, we encourage everyone to take a well-deserved break, spend quality time with loved ones, and enter the new year with renewed energy and inspiration. Should you have any urgent matters, please ensure they are attended to before the closure. The NEAB team wishes you a joyous festive season filled with happiness, peace, and prosperity. We look forward to serving you again in 2025! Warm regards, Namibia Estate Agents Board (NEAB)

From December 12-13, 2024, the Namibia Estate Agents Board (NEAB) is visiting South Africa’s Property Practitioners Regulatory Authority (PPRA) . Led by Chairperson Ms. Marvel Tjombonde , Board Member Mr. Simeon Kahona , and Manager Mr. Festus Unengu , this initiative aligns with the recently signed Property Practitioners Act, 2024 (Act No. 11 of 2024), which sets the stage for Namibia’s Property Practitioners Regulatory Authority.   The visit focuses on gaining insights into the South Africa PPRA’s: Regulatory frameworks, Stakeholder engagement, Compliance enforcement, Consumer protection, and Capacity building. These learnings will guide NEAB’s transition to a robust authority that enhances professionalism and transparency in Namibia’s real estate sector. This benchmarking exercise is a stepping stone toward establishing a regulatory authority serving Namibians. Stay tuned for updates as NEAB works to transform Namibia’s property landscape. #NEAB #BenchmarkingVisit #PPRA #RealEstateNamibia #PropertyPractitioners

The Property Practitioners Act establishes a comprehensive legal framework to regulate the property sector in Namibia. Central to its provisions is the creation of the Property Practitioners Regulatory Authority, replacing the Namibian Estate Agents Board. The Authority will supervise property practitioners' certification, registration, and behavior, guaranteeing adherence to regulations, responsibility, and consumer protection. According to a broad definition, "property practitioners" are individuals or organizations that sell, lease, manage, or assist in transactions involving businesses or real estate. Attorneys practicing law within their scope of practice are immune from registration as long as they follow the rules and refrain from receiving commissions. Board Members Appointment The Minister appoints seven members to the Board that oversees the Regulatory Authority. The Board is in charge of creating policies, supervising finances, and running the Authority's operations. Board members come from a variety of backgrounds, including law, the financial sector, and real estate development. Those with a criminal record, insolvency, or conflicts of interest are strictly prohibited from serving on the board. The Authority is tasked with overseeing practitioners, managing the Fidelity Fund, enforcing ethical standards, looking into wrongdoing, and educating consumers. Additionally, it guarantees fair access to the real estate market, especially for underprivileged populations, and provides the Minister with yearly reports that include information on its activities, financial standing, and registered practitioners. Financial Provisions Financial provisions under the Act require the Authority to source funds from membership fees, fines, Parliamentary appropriations, and other lawful means. The funds are used exclusively for operational costs, with surplus funds invested in registered Namibian financial institutions. Annual financial statements must be prepared, audited, and submitted to the Minister and National Assembly. Similarly, the Fidelity Fund, formerly the Estate Agents Fidelity Fund, is funded through fees, interest, and recoveries, and is managed to compensate individuals suffering losses due to practitioner misconduct. Claims must be filed within three years, with exclusions for losses involving close family or business associates. The Fund is exempt from taxes and can be insured against potential claims.   Property Practitioners Registration The Act makes registration mandatory for property practitioners, barring unregistered individuals or entities from engaging in property transactions. Applicants must meet eligibility criteria, including Namibian residency or valid work permits, prescribed training, and evidence of good character. Disqualifications include insolvency, dishonesty, or prior misconduct. Registered practitioners must pay annual membership fees and comply with qualification requirements to avoid suspension or revocation. A public register of practitioners is maintained, serving as evidence of their registration status. Non-compliance, including operating without registration, attracts fines, imprisonment, or both. Fidelity Fund Certificate The requirement for a valid Fidelity Fund Certificate is a cornerstone of the regulatory framework. Practitioners must apply for the certificate, which is processed within 30 working days, provided all requirements are met. The certificate is a prerequisite for receiving remuneration, and failure to comply can lead to severe penalties, including fines, imprisonment, and repayment of commissions received unlawfully. Practitioners are required to display their certificates prominently and update the Authority on any changes to their details. Certificates may be revoked or lapse due to disqualifications, legal prohibitions, or changes in legal status, such as insolvency or death. Trust Account Trust account management is another critical aspect of the Act. Property practitioners must maintain separate trust accounts for client funds and appoint auditors to oversee these accounts. Surplus funds may be invested, but earned interest must be remitted to a designated fund. Practitioners are obligated to retain detailed accounting records, balance accounts monthly, and submit annual audit reports. Non-compliance, including improper use of trust funds or failure to maintain accounts, results in penalties. Practitioners ceasing operations must appropriately wind down their trust accounts and transfer unclaimed funds to the Fidelity Fund after specified periods. Consumer Protection and Ethical Conduct Consumer protection and ethical conduct are emphasized throughout the Act. Practitioners are prohibited from engaging in misleading practices, conflicts of interest, or activities that harm consumers. A code of conduct, reviewed annually by the Authority, governs professional behavior. Franchised practitioners must disclose their franchise status, and clients cannot be compelled to use specific services. Advertising and marketing practices are regulated to ensure fairness and transparency. Violations attract sanctions, including fines, revocation of registration, or public reprimands. Appointment of Inspectors The Authority is empowered to appoint inspectors to ensure compliance with the Act. Inspectors can conduct investigations, enter premises, and seize documents when necessary. While private residences require a search warrant, immediate action can be taken without a warrant in certain circumstances. Inspectors must follow strict procedures, including respecting privacy and dignity, and may request High Court intervention in cases involving privileged information. Inspectors are authorized to use reasonable force, assisted by police officers, if resistance is encountered during searches. Disclosure Form The Act introduces mandatory disclosure requirements for property transactions. Sellers and lessors must complete a disclosure form, which is attached to sale or lease agreements and shared with buyers or lessees. Non-compliance may result in liability for damages or sanctions by the Authority. The Act also provides mechanisms for exemptions, appeals, and dispute resolution. Exemptions are granted based on public interest considerations and appeals against decisions of the Authority can be directed to an Appeal Board or the High Court. Conclusion In summary, the Property Practitioners Act modernizes Namibia's property sector by implementing stringent regulatory measures to promote transparency, accountability, and equitable practices. It aims to protect consumers, enhance professional standards, and ensure fair participation in the property market. By establishing robust compliance mechanisms, the Act seeks to foster trust, stability, and growth in the property industry.

The Property Practitioners Act, 2024 (Act No. 11 of 2024) was signed into law by His Excellency The President of Namibia. This represents a transformative step for Namibia's property industry, repealing the outdated Estate Agents Act of 1976 and establishing the Property Practitioners Regulatory Authority . This Authority will oversee all property practitioners, including estate agents, property developers, auctioneers, and property managers, ensuring comprehensive regulation and consumer protection. Key features include the issuance of Fidelity Fund Certificates to safeguard consumer funds and expanded governance structures under the Public Enterprises and Governance Act of 2019. The Bill aligns Namibia’s property sector with international standards, addressing current and future challenges while fostering transparency and accountability. This consumer-centric legislation emphasizes protecting clients' most valuable assets—their properties. By broadening the scope of certification to encompass all property practitioners, the Bill enhances the legal and institutional framework, ensuring that the sector is responsive to modern realities. With these improvements, the Property Practitioners Act aims to establish a fair, secure, and efficient property market, providing a solid foundation for consumer confidence and trust.

On November 8, 2024, the Namibia Estate Agents Board (NEAB) joined Episode 5 of The Property Buyers Guide  on The Brief, Namibia’s premier business and finance news platform. In this insightful discussion, Justina from The Brief sat down with Mr. Festus Unengu from NEAB to unpack the crucial role that real estate agents play in the property buying process. The conversation delved into essential points for both buyers and sellers, including how agents help facilitate property transactions, steps to verify an agent’s registration with NEAB, and practical guidance on what to do if issues arise during the process . For anyone looking to buy or sell, ensuring you work with a registered agent brings peace of mind and enhances trust. Whether you’re buying or selling, being informed about your agent’s registration status can make all the difference in your property journey. Watch the full episode here: The Property Buyers Guide - Episode 5 . #ThePropertyBuyersGuide #RealEstateAgent #NamibiaRealEstate #FNBNamibia #TheBrief #YourHomeGirl

The Namibia Estate Agents Board (NEAB) proudly participated in the Rundu Annual Trade Fair from 25 October to 02 November 2024, embracing this year's theme of "Fostering Sustainable Socio-Economic Growth Through Investment." NEAB's presence underscored its commitment to contributing to Namibia's socio-economic development by promoting transparent, professional real estate practices that support stable and sustainable growth. Highlighting NEAB's engagement at the event, Hon. John Mutorwa , Namibia's Deputy Prime Minister and Minister of Works and Transport, visited the NEAB stall. His visit reaffirmed the importance of professional real estate practices in supporting economic growth, especially as the industry attracts local and international investors. By participating in the fair, NEAB aimed to empower the public and stakeholders with knowledge on property regulations and ethical practices, aligning with the nation’s investment and growth objectives. NEAB’s commitment to a sustainable, well-regulated real estate sector is crucial in creating lasting socio-economic benefits across Namibia. #NEABatRunduTradeFair #SustainableGrowth #InvestInNamibia #RealEstateNamibia

GENERAL NOTICE EXAMINATION IN ACCORDANCE WITH GOVERNMENT NOTICE R1409 OF 1 JULY 1983 (as amended) Please note that the NEAB will conduct examinations in accordance with Government Notice R1409 of 1 July 1983 (as amended). The NEAB ONLINE ESTATE AGENTS’ EXAMINATION details are as follows: - Online registration starts: 24th October 2024 - Online registration closes: 29th November 2024 - Online examination date: 07th December 2024 a. Online Registration Process i. Visit NEAB website ( https://www.neab.co.na/ ) ii. Click on Online Exam Registration b. Examination fees payable are as follows (Exam Registration & Study Material): Total Costs: N$ 2,200.00 c. Enquiries: i. Telephone Number: 061 – 249 885 ii. Email: supervisor@neab.co.na / admin2@neab.co.na d. Compulsory Induction Training: Compulsory Induction training in line with section 8( c ) of the Estate Agents Act 112 of 1976 will be conducted after passing the examination; Festus Unengu Manager: Namibia Estate Agents Board

The Namibia Estate Agents Board (NEAB), in collaboration with Werder, Kauta & Hoveka (WKH), successfully conducted a series of legal training workshops from 14-18 October 2024 in Ongwediva, Swakopmund, and Windhoek. These workshops provided valuable insights into critical legal matters affecting property management, drawing participation from estate agents and the general public. Attendees gained a deeper understanding of the following topics: Eviction : The legal process for eviction Commission : When and how commission is payable Rates and Taxes : Common law responsibilities for payment Deposit Money : Proper handling and permissible deductions Maintenance & Upkeep of Rental Property : Responsibilities of landlords and tenants Changing Locks & Cutting Electricity : Legal considerations for outstanding rent and the lessor’s rights Transfer and Stamp Duties : Overview of new amendments effective 1 October 2024 The workshops were well-received, with active participation and thoughtful discussions on addressing these issues professionally in compliance with the law. NEAB would like to thank all the facilitators from WKH for their expertise and the attendees for their engagement. This initiative is part of NEAB’s ongoing commitment to upholding professionalism in the real estate industry by educating agents and the public on crucial legal matters. Stay tuned for more training opportunities, and follow NEAB for updates on upcoming events! #NEABTraining #WKHWorkshop #PropertyLaw #EstateAgentsNamibia #EvictionLaw

On Friday, 11 October 2024, the Namibia Estate Agents Board (NEAB) successfully held its 4th Estate Agents Induction Training Workshop at Hotel Thuringerhof, Windhoek. This vital session brought together key industry stakeholders, including the City of Windhoek (COW), the Public Accountants and Auditors Board (PAAB), the Financial Intelligence Centre (FIC), and First National Bank (FNB).   The workshop opened with a keynote address from Ms. Liberty Ithete, Chairperson of the NEAB Education Committee, who emphasized the importance of professional ethics and industry compliance. Representatives from the Ministry of Industrialisation and Trade also offered valuable insights into aligning real estate practices with Namibia's broader economic goals.   NEAB Manager Mr. Festus Unengu delivered an in-depth presentation focusing on the NEAB's regulatory role and the critical importance of maintaining high standards across the real estate sector. Participants left the workshop equipped with the necessary tools and knowledge to thrive in their profession, backed by insights from industry leaders.   This induction workshop is part of NEAB's continuous efforts to foster a well-informed and regulated estate agent community in Namibia. #NEABInduction2024 #NamibiaRealEstate #FutureAgents #RealEstateTraining

The Namibia Estate Agents Board (NEAB), in collaboration with Werder, Kauta, and Hoveka (WKH), invites all members of the public to participate in a comprehensive training workshop on essential legal issues impacting property management. The goal is to provide valuable insights and equip attendees with the necessary knowledge to handle property-related legal matters professionally and in line with the law. Presentations by WKH in Ongwediva (14 October 2024): Eviction: When and How It Happens: Presented by Ms. C. Tjihero Commission: When and How It Is Payable: Presented by Mrs. P. Hango Rates and Taxes of a Property: Common Law Responsibilities: Presented by Mrs. P. Hango Deposit Money: Where It Should Be Kept and Permissible Deductions: Presented by Mrs. V. Haikali Maintenance & Upkeep of Rental Property: Common Law Responsibilities: Presented by Mrs. V. Haikali Changing Locks & Cutting Electricity: Lessor’s Rights Over Lessee’s Movable Goods for Rent Arrears: Presented by Ms. C. Tjihero Transfer and Stamp Duties: New Amendments Effective 1 October 2024: Presented by Mrs. V. Haikali Training Dates & Locations: Monday, 14 October 2024  – Ongwediva Wednesday, 16 October 2024  – Swakopmund Friday, 18 October 2024  – Windhoek Registration Fee: N$ 500 This workshop is an invaluable opportunity for anyone looking to deepen their understanding of property law and best practices. We look forward to your participation! #NEABTraining #PropertyManagement #LegalWorkshop #EstateAgentsNamibia

The Namibia Estate Agents Board (NEAB) proudly participated in the Windhoek Agricultural, Livestock & Motor Show from 27 September to 05 October 2024. This prestigious event provided NEAB with a valuable platform to engage with the public, estate agents, and industry stakeholders, showcasing our commitment to promoting professionalism and excellence within Namibia's real estate sector. Visitors to our stand had the opportunity to learn about NEAB’s ongoing initiatives, including training workshops, legal guidance for estate agents, and our efforts to enhance governance and compliance. It was an excellent opportunity to answer questions, provide insights into the real estate profession, and share knowledge on key industry trends. We extend our gratitude to all who visited our stand and engaged in meaningful discussions. Together, we continue to build a solid and trustworthy real estate sector in Namibia. #NEAB #WindhoekShow2024 #NamibiaRealEstate #BuildingTrust