Real estate negotiators subject to registration exercise

Posted on November 27, 2013  |  1995 Views |  Topic : Property News.

BY NATALIE CHAN

nataliechan@thestar.com.my

From left :

(From left) RISM representatives Tunku Fauzi Datuk Abdul Malek and Adzman Shah Mohd Ariffin, MIEA president Siva Shanker, PEPS president Lim Lian Hong, MIEA past president Soma Sundran and MIEA representative Lim Boon Ping.

Malaysian real estate negotiators will now be subject to a nationwide registration exercise implemented by the Board of Valuers, Appraisers and Estate Agents.

In a joint conference organised by the Malaysian Institute of Estate Agents (MIEA), the Royal Institution of Surveyors Malaysia (RISM) and Association of Valuers, Property Managers, Estate Agents and Property Consultants in the Private Sector, Malaysia (PEPS) , MIEA president Siva Shanker said that the rationale of the exercise, among others, was to enhance professionalism in the real estate industry.

To date, only real estate agents are required to be registered with the Board of Valuers. Under this exercise, real estate negotiators need to attend a one-day training programme run by MIEA, RISM and PEPS to obtain a certificate of attendance which will then enable them to register via a registered real estate agent.

The registration exercise, which began last month, is expected to end on 31 Jan 2014. Upon registration, negotiators will receive a tag, which they are required to display at all times during their conduct of business starting 1 Apr 2014.

PEPS president Lim Lian Hong said that the exercise is to ensure good governance and regulation in the industry. “As the country progresses, we look towards a regulated profession, where people toe the line.”

When asked about the exercise, Hartamas Real Estate Malaysia Sdn Bhd associate director Christopher Chan said that he was pleased with the move and that it was long overdue. “Up till this point, there are no qualifying exams to sit for. But with this one-day training programme, it is a good start to enhance professionalism,” said Chan.

A real estate negotiator who declined to be named was also supportive of the move. “I think it’s a good move as it will weed out illegal real estate agents and negotiators,” she said.

Real estate negotiators who have yet to register can contact :

MIEA : +603-7960 2577

RISM : +603- 7954 8358

PEPS : +60-7960 1318

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