Towards better industry standards

According to Malaysian Institute of Estate Agents (MIEA) president Siva Shanker, there are between 30,000 to 40,000 unregistered real estate agents and negotiators (REN), operating in the country. Though not all, many not only profit through various misconduct practices but are putting the professionalism of the industry in question.
"Potential homebuyers today are bogged down with various concerns and qualms over the local property market and the possibility of owning their dream home. The last thing they need is to be anxious over their RENs," adds PropertyGuru (Malaysia) country manager Gerard Kho.
Pooling together for the better
In view of this alarming trend, PropertyGuru Malaysia is supporting MIEA in its bid to get RENs to register themselves as certified agents. This partnership was recently officiated with the signing of a Memorandum of Understanding (MoU) between PropertyGuru Malaysia and MIEA.
"We believe the licensing and certification programme initiated by MIEA is instrumental to aptly equip RENs with both the attitude and aptitude to serve potential homebuyers. We are excited over our partnership with MIEA and we look forward to more collaborations and proactive efforts ahead as we work together to champion the interest of homebuyers, as well as RENs," said Kho.
"In our strive to push for licensing and certification among the RENs, it is crucial for MIEA to partner with like-minded industry players like PropertyGuru Malaysia, that complement our aim to protect the interests of homebuyers, as well as real estate agents," Shanker added.
REN benefits
Under the partnership, not only can licensed REN members enjoy special listing packages, they can tap into the PropertyGuru Malaysia network of online visitors, get market insights, industry updates and better equip themselves in their job. Additionally, agents registered with the Board of Valuers, Appraisers and Estate Agents Malaysia (BOVAEA) enjoy a special package from the property site, where they get to enjoy 10 listings for a period of 12 months at just RM80.
The signing was witnessed by director general of valuation and property services department and BOVAEA president Datuk Haji Abd Hamid Abu Bakar.

Property outlook
In addition to the MoU signing, MIEA shared its insights on the property market for next year, concluding the event which also featured seven talks by industry professionals.
- Land prices in all property sectors is expected to continue rising and land along major infrastructure projects will continue to be in demand.
- Properties with both residential and commercial development mix will also be most appealing to buyers. There will be a trend of re-developing existing buildings into these higher value added development mix.