The Property Practitioners Bill is a new piece of legislation that will replace the Estate Agency Act 112 of 1976. Its main purpose is to establish the Property Practitioner Regulatory Authority, which will replace the Namibia Estate Agents Board; to regulate the affairs of all property practitioners; to allow for transformation in the property sector, and to provide for consumer protection.
The Act will commence on a date yet to be decided upon. Regulations must still be published. The Minister must first make rules on what training requirements all the property practitioners who will now be joining the fray, need to undergo and the Minister must also publish a code of conduct. So much work still lies ahead before the Act can commence.