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No place for illegal brokers, more concrete actions needed.

Let’s listen to what a former President of the Malaysian Institute of Estate Agents (MIEA) has to say about illegal brokers. His article appeared in NST just days ago. Reference here.  “A word of caution to the general public: DO NOT DEAL WITH ANY ESTATE AGENT WHO IS NOT REGISTERED. The consequences, should something go wrong, are dire. And if the amount of money involved is big enough, you may find it difficult to financially recover from the ordeal. All bona-fide Real Estate Agents and Negotiators are registered with the Board of Valuers, Appraisers & Estate Agents. Each of them is given a tag by the board which they are supposed to display prominently at every meeting, viewing or inspection. When dealing with estate agents, always ask to see their tag. If they don’t have a tag, don’t deal with them. NO TAG, NO TALK.” Please refer here for his full article. 

Here’s what our Minister of Housing and Local Government Zuraida Kamaruddin said in another article in TheSundaily.my She shared that the ministry is sad that not even ONE illegal broker had ever been charge in any court. The Housing and Local Government Ministry will start to tackle the issue of illegal brokers. She said, “I am concerned that such brokers are having a time of their life in practising illegally, resulting in the public being cheated or misrepresented.” Zuraida noted that as it was a housing-related issue, she was willing to discuss the matter with the relevant entities on how best to mitigate the problem to ensure the real estate practice was safeguarded. She added, “I wish to stress that … we have no place for illegal brokers.” Here’s that full article for reference.

Hopefully this time it’s going to be a tough time for the illegal brokers. I also would like to listen to the actual plans that our Minister of Housing and Local Government will be rolling out. Consultations with the market must start asap and this time, all parties to help it make it work. MIEA has a huge role to play too; teaching the RENs how to keep warning their customers again and again about the dangers of illegal brokers too. These days, accountability is so important. We should always work towards a better Malaysia. As for RENs who are NOT professional at all despite having tags, actually this is one major reason why illegal brokers continued to be trusted by the public too. All the best yeah to everyone involved in the real estate industry.

written on 23 Oct 2018

Next suggested article:  Investors coming back into the market. Improving till 2020

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