Property Agency and Validity of Agent/Negotiator

Posted by John Bless on 04/02/2017 14:32

Tagged in Bangsar South, Pantai

Hi, I am John from Singapore.

I am keen to buy a condominium in KL to generate residual income/investment. Trying to look for a reliable and capable agent. A few queries:

1) There are so many property/real estate agencies in KL. How to know which are the top 10 agencies? I know Edge published a list of top 10 property construction companies but not agencies.

2) Even within an agency, there are so many agents. Each agent has a REN number. Is there a public website that I can use to confirm the validity and track records of the agent?

Answers (1)

David Wong Lai Kwong

Posted by David Wong Lai Kwong on 18/10/2017 13:39

Hi John,

I am David Wong, a registered and licensed real estate agent (E2097) practicing in KL & Selangor.

I came across your queries which I feel compelled to answer you as a practioner:-

1) There is no awards or publication to ascertain the top ten real estate agencies in KL or for that matter in Malaysia. There are awards given to the top performing real estate agencies, registered real estate agents and registered real estate negotiators in their respective residential or commercial sectors by our association, Malaysian Institute of Estate Agents (www.miea.com.my). However, this awards are presented to those who wants to participate only. Therefore, it does not encompasses the industry as a whole.

2) Our real estate practice is governed by the Board of Valuers, Appraisers & Estate Agents, Malaysia under the Ministry of Finance. (www.lppeh.gov.my). Under the Law, only registered estate agents are allowed to practice. However, due to the low number of qualified and registered agents in the whole of Malaysia, probably numbering about 3,500 persons only, the board has allowed estate agents to hire or engage negotiators to assist them in the practice to serve the ever increasing number of properties, owners and buyers. Unlike the earlier years whereby many acted as brokers unprofessionally, the governing board had made it compulsory for licensed estate agencies to register their brokers (otherwise known as negotiators here in Malaysia) and send them for short professional courses on a yearly basis and be accountable for the negotiators practices. Even that there are agencies that still hire/engage unregistered brokers/negotiators while others are practicing illegally.
To check whether the agency, real estate agents and negotiators are licensed or registered you may visit this government website www.lppeh.gov.my

I hope I have enlightened you more on our industry here in Malaysia which is still progressing to improve.

Should you need my professional assistance to find you the suitable property to invest in KL and/or any regulatory issues in regards to your property acquisition in KL, you are welcome to contact me. I have done acquisitions of properties for individual foreigners and companies alike Thank you

David Wong (Licensed No. E2097)
Principal
QUANTUM REAL ESTATE
Licensed No E(3)1320
Mobile Phone: +60193330573

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