NEAB Warns Registered Estate Agents Against Collaborating with Unregistered Agents

The Namibia Estate Agents Board (NEAB) strongly cautions registered estate agents against engaging in property transactions, co-broking arrangements, or commission-sharing agreements with unregistered individuals, commonly referred to as "rogue agents."

It has come to the Board's attention that some registered estate agents may be collaborating with individuals who are not registered with NEAB or do not hold valid Fidelity Fund Certificates (FFCs).

Such practices undermine the integrity of Namibia's property industry, expose consumers to unnecessary risks, and compromise the professional standards expected of registered estate agents.

Know Your Legal Responsibilities

Under Section 26 of the Estate Agents Act 112 of 1976, no individual may perform the functions of an estate agent without a valid Fidelity Fund Certificate.

Registered estate agents are therefore reminded that:

• Co-broking: Agents must not facilitate property transactions involving unregistered individuals performing estate agency functions.

  
  

• Commission sharing: Registered agents must not enter into arrangements that enable unregistered individuals to earn commissions unlawfully from estate agency activities.

  
  

• Professional accountability: Registered agents must ensure that individuals involved in estate agency activities are appropriately registered and authorised.

Using a registered agent's credentials or agency to facilitate unauthorised estate agency activities does not make such conduct lawful.

Consequences of Non-Compliance

NEAB takes allegations of unlawful estate agency activities seriously.

Registered agents found to have participated in improper conduct may face disciplinary proceedings, including possible withdrawal of their Fidelity Fund Certificates. Suspected criminal violations may also be referred to the relevant authorities.

Protect the Integrity of the Profession

NEAB urges all registered estate agents and agencies to verify the registration status and validity of Fidelity Fund Certificates before entering into co-broking arrangements or other professional collaborations.

Members of the public are equally encouraged to verify an agent's registration before conducting property transactions.

Any suspected unlawful estate agency activities should be reported to NEAB for investigation.

Namibia Estate Agents Board (NEAB)

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