Good Response to MIEA Registration of
Negotiators
trained since October
2013,” said Siva Shanker,
the president of the
Malaysian Institute of
Estate Agents (MIEA).
Siva Shanker, the president
of the Malaysian Institute
of Estate Agents (MIEA)
He was speaking to the
28th Malaysian Annual
Real Estate Convention
(Marec) 2014. Held
over the weekend, the
convention was titled
“Innovative Solutions in
a Challenging Market —
Ideas That Work”.
The recent registration of
real estate negotiators,
which has been under
way since October last
year, has yielded 11,000
registrants.
“In the past couple of
months, there have been
many changes in the
real estate landscape,”
said Lim Boon Ping, the
convention chairman, in
his opening speech.
“To date, we have
conducted over 40
classes held across 10
locations nationwide
... Nearly 11,000
negotiatiors have been
Based on research by
PPC International Sdn
Bhd, a total of RM142.84
billion was transacted in
the real estate industry in
2012. Approximately 60%
of the transactions (RM85
billion) were made in the
secondary market.
Hence, MIEA hopes the
organisation will be able
to play a more active
role in the future. “We
hope ministers and
policymakers will consider
engaging us prior to any
major policy changes
which may affect us,” said
Soma Sundram, past
president of MIEA.
MIEA will spend RM1
million this year to create
more public awareness
about the importance of
dealing with registered
estate agents. Later this
year, MIEA will issue tags
with QR codes to all its
members. Customers
will be able to scan the
QR codes with their
smartphones and access
the agent’s professional
information.
RM1 Million Per Unit Minimum Threshold for
Property Acquisition by Foreign Interests
Kicks in 1st of March 2014
properties valued at less
than RM1 million per
unit, especially residential
units.
A foreign interest in Mal