Stemming out illegal property agents

From this month, all registered real estate negotiators are required to wear the identification tag issued by the Board of Valuers, Appraisers and Estate Agents (BOVAEA) as proof of their legitimacy during the course of doing business.

“All the negotiators, including project marketing staff who sell property for developers in the sales gallery, shopping complexes, hotel function room or exhibition halls are required to wear the tag,” Estate Agents Practise Committee chairman Eric Lim told participants at the launch of the public awareness campaign for the national registration exercise of real estate negotiators yesterday.

“The tag contains a specially-assigned REN (real estate negotiator) number and quick response (QR) code, which can be verified on any QR code reader or mobile application,” Lim, who is also an exco member of the BOVAEA, said.

Since the national registration exercise was initiated last October, more than 10,000 real estate negotiators have been registered with BOVAEA and they have been issued with an identification tag. The exercise is part of an effort to stem the rise of illegal real estate agents or brokers.

BOVAEA said it was important for the public to insist on seeing the identification tag of the real estate negotiator and scan the QR code for verification when engaging the services of the real estate firm.

It also stressed the importance of the public appointing only authorised real estate negotiators or registered estate agent to ensure that their interests and rights are protected.

Lim said the identification tag carried some security features to avoid imitation.

He added that effective June 2014, individuals who wanted to become real estate negotiators would have to attend a two-day “real estate negotiators certification course” in order to be registered with BOVAEA.

Deputy Finance Minister Datuk Ahmad Maslan said the national registration exercise would make real estate negotiators more accountable and responsible in the long run.

“It is also expected to result in the public having more confidence in the profession and reduce the number of complaints,” he said at the same function. “The new tag system will allow for a common database of real estate negotiators,” he said, adding that the Government was mindful of the situation and remained committed to regulating industry practices that would safeguard the rights of both buyers and sellers. - By The Star

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