Asset-1-1.png

IS YOUR ESTATE AGENT OR NEGOTIATOR REGISTERED WITH BOVEAP?

Asset-2.png

DOWNLOAD CHECKLIST FOR RENTING AND BUYING PROPERTIES

Frequently Asked Questions

For any property transactions, buyers can choose to handle the transaction on their own or engage a property agent. Buyer can also appoint more than one agent to facilitate a transaction if he/she wish to.  If buyers prefer to engage a property agent to help with the transaction, they should first verify if the individual is registered with BOVEAP. Additionally, consumers should negotiate and compare commission rates before signing any agreement with the agent.

Property buyers can verify if an estate agent or negotiator is registered via BOVEAP by calling during the office hours at 603-22876666, search via BOVEAP’s webpage at www.search.lppeh.gov.my Consumers can also utilise the Quick Respond (QR) code which can be verified using a smartphone. Buyers can also use the property agency’s name or licence number as well as the property agent’s name, registration number or mobile number to do the verification. 

You may visit the property agencies’ websites to get their contact details as well as request their agents’ contact information. 

A real estate agent (REA) is an individual who has attained the following requirements:

  • Have passed part 1 & part 2 comprising of 12 papers
  • Registered as a Probationary Estate Agent (PEA)
  • Have completed two years of post-practical training with a real estate firm
  • Have completed task 1 & 2 
  • Passed the test of professional competence (TPC), after which:
  • Whose name has been placed on a register in the Board as a Registered Estate Agent.
  • An estate agent can operate his/ her own Real estate firm.
  • Provide real estate service in selling, leasing properties or finding a property for the clients.
  • To employ up to 30 Real Estate Negotiators to assist the Real Estate Agent to providing Real Estate Services.

You may visit the property agencies’ websites to get their contact details as well as request their agents’ contact information.  A Real Estate Negotiator (REN) is an individual who is employed by a Registered Estate Agent. They are not registered with the Board but certified to practice. They must attend the full two day course on real estate and be issued a certificate of attendance. They are then able to seek employment by a real estate firm. The real estate firm then will apply for the Ren tag with the BOVEAP and they will certify and designate a REN number & issue a Tag. Only then the REN can be employed by the firm and only then can they represent sellers, landlords, buyers & tenants in the sale and marketing of properties.

A REN Tag is an identification tag issued to a real estate negotiator (REN). It contains all the information including their name, photo, IC no, REN no, firm name, firm registration no, quick respond code (QR) and security features, This tag must be worn by the REN at all times while they conduct business.

A REN Tag is an identification tag issued to a real estate negotiator (REN). It contains all the information including their name, photo, IC no, REN no, firm name, firm registration no, quick respond code (QR) and security features, This tag must be worn by the REN at all times while they conduct business.

The Quick Respond (QR) code can be verified using a smartphone. It contains all the negotiator information including their photograph. If in doubt, conduct a search at www.search.lppeh.gov.my. Alternatively, call BOVEAP during the office hours at 603-22876666.

Then he/she is an illegal broker. He/she is not authorised at all and as such stop dealing with them. Report them to the police immediately with full information.

Genuine REN Tag contains watermark security features. When you scan the Quick Respond (QR code) using a smartphone, it will feature the negotiator information.

Any foreigner who wishes to work as a Negotiator is required to obtain a work permit from the Immigration Department and only then will the BOVEAP will consider the application.

Foreign Real Estate Agents or developers cannot sell property on their own in Malaysia. They are required to engage a local registered real estate firm to market any foreign properties. The local firm is required to make an application with BOVEAP and required to be present at all times at the exhibition hall.

These signboards are done by illegal brokers. REN are not allowed to put-up signboards on lamp-post and tree trunks.

Minimum Fee: As above subject to a minimum fee of 1 month rental

 *Rent Reviews- 50% of the fees chargeable under lettings 

*For tenancies less than one year, the fee may be calculated on a pro rata basis

* The above scale shall not apply to *serviced offices or apartments* or any other premises of a similar nature.

All advertisements posted by a REN must contain the company E registration number with BOVEAP and a REN number beside their mobile number. Do not respond to any advertisement if it does not contain all this information. It is considered illegal for any advertisement to not follow the requirements above except advertisements by property owners.

Yes, they can. Majority of these are primary properties or new projects, however they are required to wear the REN tag at all times.

Besides the normal company details, the name card shall also display the Firm E registration number and the REN number.

Flyers or leaflets distributed by negotiators must contain the companies’ names, firms’ E registration numbers and the REN No. Do not respond if the flyers or leaflets do not contain this information.

Flyers are permitted under the following conditions:

  • The contents in the flyer shall specify the types of property for sale/rental/lease or wanted.
  • The flyer shall produce in a firm’s letterhead which bears the name registration number, the telephone number, address of the firm. It shall carry the signature of the REA. It shall include the negotiator’s name with the REN Number.
  • The flyer must also carry the following statement:
  • “Persons responding to this flyer are not required to pay any estate agency fee whatsoever for properties referred to this flyer as this firm is already retained by a particular principal” The font size for this statement shall be similar to the general contents of the flyer.

Flyers or leaflets distributed by negotiators must contain the companies’ names, firms’ E registration numbers and the REN No. Do not respond if the flyers or leaflets do not contain this information.

Flyers are permitted under the following conditions:

  • The contents in the flyer shall specify the types of property for sale/rental/lease or wanted.
  • The flyer shall produce in a firm’s letterhead which bears the name registration number, the telephone number, address of the firm. It shall carry the signature of the REA. It shall include the negotiator’s name with the REN Number.
  • The flyer must also carry the following statement:
  • “Persons responding to this flyer are not required to pay any estate agency fee whatsoever for properties referred to this flyer as this firm is already retained by a particular principal” The font size for this statement shall be similar to the general contents of the flyer.

Besides the normal company details, the name card shall also display the Firm E registration number and the REN number.Any foreign property being approved to be marketed in Malaysia is required to display the BOVEAP approval number, example LPPEH/88/8888/KL. A separate application is required for a different venue which is only valid for one month from the date of approval.

Any person who acts in contravention of section 22(c) commits an offence under Section 30(i) of the Act and is liable upon conviction to a fine not exceeding RM300,000 or imprisonment for a term not exceeding 3 years or both.