Once you passed the Namibia Estate Agents Board (NEAB) exam you can apply for your Fidelity Fund Certificate (FFC) at the NEAB offices. A person may not act as an estate agent unless that person is in posession of a valid FFC. When you apply for your FFC it takes ± two weeks for the NEAB to issue your FFC. You will also get a FFC ID card that you can carry with you for easy identification with clients.
In terms of the Namibia Estate Agents Act (112 of 1976), every estate agent and estate agency firm must obtain a FFC from the NEAB. It's illegal to operate as an estate agent unless the NEAB has issued you with an FFC for the current calendar year. It's also illegal to claim commission if you don't have a valid FFC at the time you rendered the services to the client.
With the new regulation that was implemented on 1 October 2015, the NEAB now also requires all estate agents and the estate agency to pay a yearly membership fee to the NEAB. Should you fail to pay the yearly membership fee then you will have to rewrite the NEAB exam to be able to obtain a valid FFC. The membership fee is N$500 per year per agent and agency.
This membership fee does not give you permission to act as an estate agent, you still have to register for your FFC before you may act as an estate agent.
See the required fees below:
One of the following fees are payable by NEW estate agents:
- N$2,400 - First Issue of FFC for Estate Agent joining during the period 1 January to 30 June (includes Membership Fee)
- N$1,650 - First Issue of FFC for Estate Agent joining during the period 1 July to 31 December (includes Membership Fee)
One of the following fees are payable by current agents that wish to renew their FFC for the upcoming year:
- N$2,100 - FFC Renewal for Estate Agent that applies before 31 October (includes Membership Fee)
- N$3,100 - FFC Renewal for Estate Agent that applies after 31 October (includes Membership Fee and Penalty)
The following fees are also payable for the main office and each branch office:
- N$800 - FFC Application for main place of Business (includes Membership Fee)
- N$300 - FFC Application for every Branch Office
Contact the NEAB on (061-249885) to confirm the correct registration amount and to obtain the registration documentation. You need to submit the completed registration documentation with all other required documents and proof of payment at the NEAB offices for registration. Once you received your FFC you can start trading as an Estate Agent.
2017 FFC - Estate Agents Renewal Application Form