Unregistered Property Negotiators Double
the Licensed
Registration fee is
RM450 and those who
are interested can call
MIEA Sabah branch
treasurer Mary Yu Yen
Tshin at 019-8218798.
The seminar will
feature two speakers,
namely MIEA president
Siva Shanker and
past president K.
Soma Sundram from
Peninsular Malaysia.
Property Expert, Ahyat Ishak
sharing his tips to registered
estate agents how to ultilise
great marketing tools with
Property Hunter
There are between 50
and 60 licensed real
estate agents in Sabah
employing up to 600
registered negotiators,
said Malaysian Institute
of Estate Agents (MIEA)
Sabah branch chairman
Victor T.K. Wong.
However, the number of
unregistered negotiators
in the state is estimated
to be close to double
the figure of their
registered counterparts.
This was revealed
by Wong in a press
conference to announce
the coming Negotiators
Registration Seminar
organized by MIEA
Sabah.
“We estimate there are
between 800 and 1,000
unregistered negotiators
in Sabah.”
Hence, he urged
unregistered negotiators
to attend the seminar at
Sabah Golf and Country
Club here on May 26,
from 8.30am to 6pm.
The event is organized
by MIEA on behalf of
the Board of Valuers,
Appraisers and Estate
Agents (Bovaea) under
the purview of the
Ministry of Finance.
This is the third
Negotiators
Registration Seminar
organized by MIEA
Sabah; the first was held
last December and the
second in January which
were attended by 288
negotiators in total.
“We expect between 50
and 60 participants to
turn up for this coming
event and we hope
negotiators who have
yet to register will come
forward.”
Wong pointed out
that negotiators who
registered themselves
at the seminar would
still have to work under
a licensed real estate
agent, meaning they
were still not allowed
to operate a real estate
agency.
To become a licensed
real estate agent, one
must have passed estate
agents examinations,
worked full time with
a licensed real estate
agency for two years,
submitted two task
papers to Bovaea
and finally passed an
interview with Bovaea.
A licensed real estate
agent can employ
up to 20 real estate
negotiators to assist
them in carrying out
their business.
Under Section 30 of
the Valuers, Appraisers
Draft KK Local Plan 2020 Still Open
for Debate
and Estate Agents
Act 1981, real estate
agents found operating
without a licence
will face a fine not
exceeding RM300,000
or imprisonment
not exceeding three
years, or both, upon
conviction.
In relation to the 76
unsuspecting buyers
who were conned a total
of RM1.56 million by a
company claiming to be
a property developer
recently, Wong said
this could have been
avoided if the victims
had consulted a licensed
estate agent.
MIEA has advised house
buyers not to deal with
unregistered estate
agents as they could not
be held accountable if
something went wrong.
“If anything goes wrong
along the line, they
(unregistered agents)
will say they are merely
introducers,” says Wong.
On the contrary, Wong
said licensed estate
agents have to be
responsible for the
whole transaction
process until the
buyers have moved
into their properties. He
added that registered
agents would not have
asked for 10 percent
commission as offered
by the company to
property agents who
successfully sold its
products.
“We are governed by the
law that our maximum
(commission) is three
p