Property Hunter Magazine September Issue 2014 | Page 68

/// East Malaysia Property News

“Anybody in Malaysia – if they want
to do marketing for properties –
they have to be registered with the
board,” Wong stressed.
“People like us – principals of
estate agents – under us we’ve got
negotiators. Every negotiator is
registered and also provided with
a proper tag and number. Without
that proper license, any other
broker is illegal.”
The latest move by Bovaea to have
negotiators registered with a ID tag
and number, says Wong, will help
the public distinguish who is legal
and who isn’t.
This is in line with enhancing the
level of transparency, instilling
integrity and to uphold standards
of practice among the professionals
representing the industry.
It is envisaged that with the new
system cases related to brokers are
expected to reduce significantly.
‘No responsibility’
The main problem with these
unlicensed brokers, explains Hii
from Simon Real Estate, is that they
have no responsibility to their client
to be fully transparent and honest
during transactions.
This is compounded by the fact that
this industry is still growing in terms
of regulation and enforcement.

Hii explained. “When a consumer
appoints you to help sell or buy
properties for him/her, you must act
on behalf of that person and that
person only.

In return, consumers can sell or
buy properties fa 7FW"