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Press Release: MIEA APPLAUDS THE RAID BY BOVAEP & PDRM AND URGES THEM TO MAKE MORE RAIDS ON MORE ILLEGAL REAL ESTATE FIRMS

MIEA APPLAUDS THE RAID BY BOVAEP & PDRM AND URGES THEM TO MAKE MORE RAIDS ON MORE ILLEGAL REAL ESTATE FIRMS 

Petaling Jaya, 14 March 2020: The Malaysian Institute of Estate Agents (MIEA) would like to extend its thanks and support to Polis DiRaja Malaysia (PDRM) and the Board of Valuers, Appraisers, Estate Agents and Property Managers (BOVAEP) for the recent raid on the premises of a cooperative who was suspected of conducting the business of real estate agency illegally.

The president of MIEA Mr. Lim Boon Ping said that this form of ‘Natural Justice Action’ has been long overdue and we look forward to BOVAEP for taking this stringent action as there are thousands of other suspected illegal real estate agents and businesses across the country. MIEA believes the public will only be fully protected if these illegals are exposed and brought to justice. Estate agency practice comes an Act 242 and it is highly regulated to protect the public. There are illegal project marketing firms, individuals who act as illegal brokers in land sales, brokers who use the yellow sign on lamp post, those who do rentals transactions in the name of providing insurance premium and many more. It is indeed a big move by the commercial crime division of PDRM to act on these illegals as they are empowered to investigate under section 30A and to charge them under Section 30 of the Valuers, Appraisers, Estate Agents and Property Managers Act.

In support of BOVAEP and PDRM’s efforts, MIEA has also launched its own public awareness campaign called #MYREALAGENT to educate the public on the dangers of using illegal brokers and the benefits of using professional, trained and skilled registered estate agents and negotiators. Further information can be found at www.myrealagents.com or on social media platforms such as Facebook and Instagram @MYREALAGENTS.

We strongly urge the public to be vigilant and be proactive and engage registered estate agents and negotiators to better protect themselves.

— end of press release —

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Charles Tan The Founder The Writer Kopiandproperty
Charles Tan

Charles is Founder of kopiandproperty.com He writes from his investment experience for the the past 20 years in investments including property, stock, unit trust and more as well as readings and conversations with many property gurus in the industry. kopiandproperty.com is an independent property blog which is not affiliated to any media company, property developer or even real estate agencies.

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