In a bid to uphold the integrity of the Real Estate industry in Namibia, the Estate Agents Board takes center stage as a pivotal statutory body, established under the Estate Agents Act 112 of 1976.
With its composition consisting of a maximum of 7 members, all carefully appointed by the Cabinet, the Board assumes a vital role in maintaining and enhancing the reputation of estate agents in Namibia.
At the heart of the Board’s mission lies the goal of fostering a high standard of professionalism among estate agents, a role executed through a range of formidable powers vested in its authority:
Fidelity Fund Certification: A cornerstone of the Board’s influence, the issuance and revocation of fidelity fund certificates, a prerequisite for practicing as an estate agent, rests solely within the Board’s jurisdiction. Upon meeting the prescribed application criteria, an individual is entitled to receive a fidelity fund certificate. However, disqualifications enumerated in the Act stand as potential barriers. In cases where an applicant faces disqualification, the Board retains discretionary authority, with Cabinet concurrence, to grant certification if deemed just.
Withdrawal of Fidelity Fund Certificate: The Board holds the authority to rescind a previously issued fidelity fund certificate under specific circumstances. Instances include instances where the certificate holder becomes subject to disqualifications outlined in the Act, involvement in a winding-up process as a company or close corporation, or a verdict of improper conduct by the Board.
Combatting Improper Conduct: Upholding ethical conduct within the industry, the Board possesses the power to launch investigations into alleged cases of improper conduct by estate agents. Upon substantiation of such charges, the Board may levy appropriate penalties, reinforcing its commitment to maintaining industry ethics.ÂÂ
Elevating Standards through Examination: In its quest to elevate professional standards, the Board is endowed with the authority to introduce an examination for estate agents. However, the examination’s standards necessitate Ministerial approval. While exemption from this examination is only granted by the Minister following consultations with the Board, prospective estate agents seeking full status can achieve this by successfully completing the Board examination.
With the current examination regulations in place, achieving full estate agent status mandates successful completion of the examination. This underscores the Board’s dedication to fostering a cohort of qualified and ethical professionals within Namibia’s real estate landscape.
In summary, the Estate Agents Board emerges as a stalwart guardian of integrity and professionalism within Namibia’s real estate realm. Armed with a range of powers aimed at certification, oversight, and maintaining conduct standards, the Board reinforces its commitment to a robust and trustworthy real estate industry, ensuring the interests of both practitioners and the public remain safeguarded.
For enquiries Text, Call or email #yourhomegirl Justina Hamupembe
Cell: +264812726001
Email: justina@chili.com.na
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