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Agents and negotiators



In Malaysia, Estate Agents are simply registered agents with the Board of Valuers, Appraisers and Estate Agents.  They provide a service in buying, selling and leasing properties for clients so that optimum returns can be achieved. To avoid any conflicts of interest, an agent can only represent one party. i.e to act for the seller or buyer.
 
 
A negotiator is a salesperson employed by real estate firms. The real estate agent is responsible and accountable for all the actions of the negotiator. A negotiator is trained, managed and supervised at all times by the real estate agent.
 
 
As defined under Section 22C of the Valuers, Appraisers and Estate Agents Act of Malaysia, only registered estate agents can practice, carry on business or take up employment as an estate agent. They can prevail on the court to recover any fees, charges or remuneration for their professional advice or services rendered as an estate agent.
 
 
Non-registered agents are not allowed to display any signboards or circulate any advertisements that imply they are registered estate agents, nor can they undertake any work that involves real estate transactions.
 
 
A person can be punished by law, under Section 30 of the Act. On conviction of an offense under the Act, the person is liable to a fine not exceeding RM 25,000 or imprisonment for a term not exceeding three years, or both. The offender shall also be liable to a further penalty of RM 500 for each day during the continuance of such an offense.
 
 
To avoid getting scammed, the general public can verify the authenticity of the agent by his registration number. Each registered agent is given a number with the prefix “E”, e.g. E1234. A real estate firm also has an E number, e.g. E(3)1234, which is the registration number of the firm with the board. This number must appear in all forms of communication from the firm
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To verify the authenticity of an agent, kindly refer to the Board of Valuers, Appraisers and Estate Agents’ website at http://www.lpph.gov.my