HOW TO IDENTIFIED REGISTERED ESTATE AGENT?

(1) Namecard

- identify their position, if it says negotiator, it means he/she is a real estate sales person engaged by a REA, if it says principal, meaning he/she is the license holder themself.

- Check their E Number. Basically in this industry, we are made compulsory to put in our company registration number under Ministry of Finance, which we call E number. There are 2 types of E numbers you may find, i.e. one company E number (e.g. V329 & E1072 for Sheik Ali Omar & Co.) V number s is for valuer and also personal E number ( e.g. E1072 for Sheik Ali Omar).

(2) Call the office

Do call up the office number on the namecard to verify the personnel is the actual employee from the real estate agency

(3) Search the E number with the Board of Valuers' Website

You can always do a Search for E number for verification at the Board of Valuers's website, i.e.www.lppeh.gov.my, as some registrant's licensed might have lapsed or suspended for many reasons.

Whenever you deal with a registered estate agent or negotiator, ALWAYS write your cheques in favour of the COMPANY'S NAME only. 

Negotiator Id Tag (REN Number)

As the economy grows and property transaction increases more and more brokers are joining in the band wagon to deal with properties without the necessary understanding, knowledge and skill. A broker adopts poor practice standards & does not maintain ethical standards leading to misrepresentation & giving misleading information. The public at large cannot differentiate between a trained Negotiator who is employed by a REA and a broker who is independently acting on his own. By having identification tag the public is in a better situation to distinguish between a trained REN and a broker.

By doing so, illegal representation by brokers and their misdeeds will be stopped and will inadvertently curtail the blossoming of brokers. The registration exercise and the new identification tag will also help improve the level of professionalism by industry practitioners and deter the public from wrongfully appointing brokers who are in it for the quick money.

Every REN is assigned a name tag with a personal REN number, the Tag must be worn at all times while carrying out their real estate work. The public can scan the QR code on the identification tag with a mobile phone and full details of the REN would appear. The public can also call the Board or browse the website to check and verify the status of the negotiators.

The BOVAEA stresses that the public have an equally important role to play and that they, when engaging the services of a real estate firm, insist on seeing the identification tag of the REN and scan the QR code for verification. It’s important that the public appoints an authorized REN or Registered Estate Agent so as to ensure that their interest and rights are protected.

With the exercise it is incumbent on the part of the REN to ensure that his /her REN no is placed in all forms of communication including name card’s, advertisement’s, signboard’s, classified advertisements, banner’s, leaflet’s, brochure’s and all other advertising materials. Failure to do so is an offence and disciplinary action will be taken by the BOVEA.

The BOVEA in collaboration with the Malaysian Institute of Estate Agents Malaysia, PEPS, and ISM has since last October embarked on a registration exercise to help negotiators who were already in practice to be registered. The programme, known as “Negotiators Registration Exercise” allowed anyone to attend a one day course with six and a half hours of training on subjects including:

- An overview of the real estate Industry & Market,
- Understanding the Act,
- Real estate practise – business or profession?
- Standards of practice,
- Law relating to property and
- Why Real Estate as a career.

This exercise attracted 16,243 attendees since October last year and close to 10,000 RENs is now registered by BOVEA and these RENs have been issued with a tag. Effective June 2014, the registration exercise has come to an end and a two day ‘Real Estate Negotiators Certification Course (RENCC)’ has been introduced. All those who wish to become a REN will now have to attend these two day course to be registered by BOVEA.

This registration is timely, as the industry has been plagued by negative image caused by brokers and also part time sales people. Now it is hoped that the Real estate services sector will be able to maintain a high level of professionalism and also raise the standards of practice. This then will help increase confidence in the sector and the public will then use only the services of RENs and Estate Agents.

It is important to state that the Board of Valuer’s, appraisers and estate agents act 1981 very clearly states that any:

(1) No person shall unless he is a registered estate agent and has been issued with an authority to practice
(a) Practice or take up employment under any name, style or title containing the words “Estate Agent”, “House Agent”, “Property Agent”, “Land Agent”, “House Broker” in any language which may reasonably be construed to imply that he is a registered estate agent or that he is engaged in estate agency practice
(b) display any signboard/poster or distribute, circulate any card letter, pamphlet, leaflet, notice or any form of advertisement
(c) Offer for sale, rent or lease or invite offers to purchase, rent or lease any land, building and any interest therein whether such land, building and interest is located within Malaysia or outside Malaysia:
(d) be entitled to recover in any court any fees, commission, charges or remuneration for any professional advice or services rendered as an Estate Agent.

Marketing of Foreign properties shall be made by or through an estate agent practicing and residing in Malaysia;

Section 30 (1) of the act states that any person who aids and abets in the commission of an offence under this Act commits an offence and is liable on conviction to a fine not exceeding “THREE HUNDRED THOUSAND RINGGIT or IMPRISONMENT FOR A TERM NOT EXCEEDING THREE YEARS or TO BOTH and he shall be liable to a further penalty of one thousand ringgit for each day during the continuance of such offence”.